News

The BoD Announces AGM Agenda and Recommended Dividend

25.04.2008

Ekaterinburg – April 25th, 2008 - Uralsvyazinform (RTS and MICEX: URSI/URSIP, ADR: UVYZY/UVYZYP), the leading carrier of fixed-line and mobile services in the Urals region, Russia reports on the Agenda of the forthcoming Annual General Meeting.

On April 24th, 2008 Board of Directors validated the agenda of AGM to be held on June 4, 2008 in Tyumen, and announced recommended dividend and Auditor for Meeting’s approval.

The Meeting’s Agenda is comprised of the following:

1. Approval of the Annual Report, the Annual Financial Statements, including the Profit and Loss statement (profit and loss account) of the Company, as well as the Company’s profit (including dividend payment) and loss distribution as of the reporting (2007) fiscal year.
2. Election of members of the Company’s Board of Directors.
3. Election of members of the Company’s Audit Commission.
4. Approval of a new version of the Charter.
5. Approval of a new version of the Regulation on the Audit Commission.
6. Approval of a new version of the Regulation on the Company’s Board of Directors.
7. Introduction of amendments to the Regulation on the Management Board.
8. Termination of membership in Regional Mobile Operators Association.
9. Nomination of the Company’s Auditor for 2008.
10. Setting the amount of annual remuneration payable to the members of the Company’s Board of Directors.

The Board has provisionally approved the annual report and annual accounting, including profit and loss statement and profit distribution as of 2007.

The Annual General Meeting is also recommended to approve the pay-out of 2007 dividend at the rate of:

• RUR 0.047031 per 1 preferred share payable till August 3, 2008;
• RUR 0.022821 per 1 common share payable till December 15, 2008.

Total amount of dividend payment, if approved by AGM, amounts to RUR 1,105.6 mln or 30.0% of net profit of the company as of 2007 under RAS. The rest of net (retained) profit in the amount of RUR 2,579.7 is recommended for the increase of equity capital.

The Board recommends KPMG (ZAO) as the Auditor of financial statements under Russian and International Accounting Standards as of 2008. KPMG was announced winner of the tender to assign the company’s auditor.

The AGM will take place on June 4, 2008 at the following location: 34, Respublika St., Tyumen, 625000 Russia. Record date (the date of compiling the list of persons entitled to participate in the AGM) – April 18, 2008.

The information, subject to disclosure to shareholders under preparation for Annual General Meeting, may be reviewed at company office (Ekaterinburg), regional offices, as well as at corporate web-site at www.usi.ru/en

For additional information, please contact IR department on tel. +7 343 379 1219, +7 343 379 1859 or e-mail: [email protected].
The most recent company information is also available from this website and www.skrin.ru (complex disclosure information system) or URSI_RU page in Bloomberg system and URSI.RTS page in Reuters system.