Rostelecom newly issued bonds commence trading on micex

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Moscow, Russia – May 20, 2011 – Rostelecom (the “Company”) (RTS, MICEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its newly issued documentary interest-bearing inconvertible bearer bonds series 01-14 have commenced trading on the CJSC Moscow Interbank Currency Exchange (“MICEX”).

The Federal Service for Financial Markets (“FSFM”) registered the reports on the issue of OJSC Rostelecom bonds on May 5, 2011. These documentary interest-bearing inconvertible bearer bonds series 01-14 were placed on April 1, 2011, through the conversion of bonds issued by seven regional telecommunications companies (“RTOs”), which since merged with OJSC Rostelecom.

The state registration / identification numbers and series of the RTOs bond issues and their respective OJSC Rostelecom bond issues are as follows: