Rostelecom OJSC: ROSTELECOM PRESIDENT SERGEY KALUGIN BECOMES A SHAREHOLDER IN THE COMPANY

  Rostelecom OJSC: ROSTELECOM PRESIDENT SERGEY KALUGIN BECOMES A SHAREHOLDER   IN THE COMPANY  UK Regulatory Announcement  MOSCOW     ROSTELECOM PRESIDENT SERGEY KALUGIN BECOMES A SHAREHOLDER IN THE COMPANY  Moscow, Russia – July 4, 2014 – Rostelecom OJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its President, Sergey Kalugin, has acquired 339,480 ordinary shares in Rostelecom for approximately RUB 30 million. This block of shares is equivalent to 0.0117% of the Company’s share capital.  Sergey Kalugin, President of Rostelecom, commented: “Rostelecom is currently implementing its long-term strategy, which we believe will help us to transform the Company into a leader in Russia’s telecommunications market by product quality and client service. I acquired Rostelecom shares because I am confident of the Company’s potential and I want to demonstrate my personal and direct interest in Rostelecom’s successful development to our shareholders.”  Rostelecom has share capital of RUB 7,280 million, which is represented by 2,669,204,301 ordinary shares with a nominal value of RUB 0.0025 per share, and 242,831,469 preferred shares with a nominal value of RUB 0.0025 per share.                                      * * *  For more information please visit http://www.rostelecom.ru/en/ir or contact:  “Rostelecom Investor Relations / Rostelecom IR” application is now available to download for free from the Apple App Store and Google Play  Investor Relations Department  Tel. +7 (499) 995 97 80  ir@rt.ru                                      * * *  Rostelecom (www.rostelecom.ru) is one of the largest national telecommunications operators in Russia and Europe. The Group operates in all segments of the telecommunications market and covers more than 34 million households.  Rostelecom is an undisputable leader of the broadband and pay-TV markets in Russia with over 10.8 million fixed-line broadband subscribers and over 7.6 million pay-TV subscribers.  The Group generated RUB 80.4 billion of consolidated revenues, RUB 26.5 billion of OIBDA (33.0% of revenues) and RUB 6.9 billion of net income for the first three months ended March 31, 2014.  The Group is a market leader in providing telecommunications services to government bodies and corporates of all levels. It is also an important innovator that provides solutions in the field of medicine, E-Government, cloud computing, education, security and housing & utility services.  Rostelecom was assigned ‘BBB-’ and ‘BB+’ international credit ratings by Fitch Ratings and Standard & Poor’s respectively.                                      * * *  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     pricing;   *the Company’s plans with respect to improving its corporate governance     practices;   *the Company’s expectations as to its position in the telecommunications     market and the development of the market segments within which the Company     operates;   *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 filings.  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.  Contact:  Rostelecom OJSC  
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