Rostelecom OJSC: Statement re Bellared Holdings Limited to Acquire 10.7% of Rostelecom Ordinary Shares from Universal Teleсom

  Rostelecom OJSC: Statement re Bellared Holdings Limited to Acquire 10.7% of
  Rostelecom Ordinary Shares from Universal Teleсom Investments Strategies

UK Regulatory Announcement



Moscow, Russia – February 28, 2013 – Rostelecom OJSC (MICEX - RTS: RTKM,
RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today
announces that Arkady Rotenberg’s Bellared Holdings Limited has reached an
agreement to acquire Marshall Capital Partners’ entire 10.7% stake in
Rostelecom, which is held by its Universal Telecom Investments Strategies

The new shareholder’s representatives, Arkady Rotenberg, Nikolai Sabitov and
Artem Obolensky, will be nominated to the Board of Directors, the composition
of which will be elected during the Annual General Meeting of shareholders in
June this year.

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For more information please visit or contact:

Investor Relations Department
Tel. +7 (499) 995 97 80

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Rostelecom ( is Russia’s largest national telecommunications
operator with presence in all Russian regions. The Group is a universal
operator and undisputable leader of broadband and pay-TV markets in Russia
with over 9 million fixed-line broadband subscribers and over 6 million pay-TV
subscribers. As Rostelecom develops its mobile data networks, its position as
a major mobile operator is growing with over 13 million currently subscribed
to Rostelecom’s mobile voice services. The Company currently has approximately
28 million local fixed-line voice subscribers and it is the leader in the
corporate and government services segment. The Group is also an important
innovator that provides solutions in the field of medicine, E-Government,
cloud computing and education.

Rostelecom was assigned a ‘BBB-’ and ‘BB+’ international credit ratings by
Fitch Ratings and Standard & Poor’s respectively, both with a ‘Stable’
outlook. The Group generated RUB 238.7 billion of consolidated revenues, RUB
94.0 billion of OIBDA (39.4% of revenues) and RUB 30.6 billion of net income
for the nine months ended September 30, 2012.

                                    * * *

Certain statements in this press release are forward-looking statements within
the meaning of the U.S. federal securities laws and are intended to be covered
by the safe harbors created thereby.

Those forward-looking statements include, but are not limited to:

• Management’s assessment of the Company’s future operating and financial
results as well as forecasts of the present value of future cash flows and
related factors;

• the Company’s anticipated capital expenditures and plans to construct and
modernize its network;

• the Company’s expectations as to the growth in demand for its services,
plans relating to the expansion of the range of its services and their

• the Company’s plans with respect to improving its corporate governance

• the Company’s expectations as to its position in the telecommunications
market and the development of the market segments within which the Company

• economic outlook and industry trends;

• the Company’s expectations as to the regulation of the Russian
telecommunications industry and assessment of impact of regulatory initiatives
on the Company’s activity;

• other statements regarding matters that are not historical facts.

Such forward-looking statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from those
expressed or implied by these forward-looking statements. These risks,
uncertainties and other factors include:

• risks relating to changes in political, economic and social conditions in
Russia as well as changes in global economic conditions;

• risks relating to Russian legislation, regulation and taxation, including
laws, regulations, decrees and decisions governing the Russian
telecommunications industry, securities industry as well as currency and
exchange controls relating to Russian entities and their official
interpretation by regulatory bodies;

• risks relating to the Company, including the achievement of the anticipated
results, levels of profitability and growth, ability to create and meet demand
for the Company’s services including their promotions, and the ability of the
Company to remain competitive in a liberalized telecommunications market;

• technological risks associated with the functioning and development of the
telecommunications infrastructure, technological innovations as well as the
convergence of technologies;

• other risks and uncertainties. For a more detailed discussion of these and
other factors, see the Company’s Annual Report and the Company’s other public

Many of these factors are beyond the Company’s ability to control or predict.
Given these and other uncertainties, readers are cautioned not to place undue
reliance on any of the forward-looking statements contained herein or
otherwise. The Company does not undertake any obligation to release publicly
any revisions to these forward-looking statements (which are made as of the
date hereof) to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events, except as may be required
under applicable laws.


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