Annual General Shareholders' Meeting to be held on June 25, 2005

Rostelecom (NYSE: ROS; RTS and MICEX: RTKM, RTKMP), Russia's national long-distance telecommunications operator, today announced that the Board of Directors met on April 18, 2005, to discuss the agenda for the Annual General Shareholders' Meeting.

Rostelecom's Annual General Shareholders' Meeting (hereinafter — AGM) will be held on June 25, 2005 at the Company's Bekasovo Training Center (Moscow region, Naro-Fominsky district).

Shareholders of record at May 6, 2005 will be entitled to participate in the AGM and receive dividends.

The Board of Directors has recommended the following annual dividends for 2004 to the Annual General Shareholders' Meeting:

• RUR 2.9738 per preferred share. The total amount of dividends to be paid to holders of preferred shares will amount to RUR 722.1 million or 10.0% of 2004 RAS net profit;
  
• RUR 1.4593 per ordinary share. The total amount of dividends to be paid to holders of ordinary shares will amount to RUR 1,063.3 million or approximately 14.7% of 2004 RAS net profit;
  
• The total amount of the proposed dividend for 2004 is RUR 1,785.5 million, representing a 24.9% increase compared to 2003.

Holders of the American Depositary Receipts will receive payment in accordance with the 1:6 ratio of ADR to ordinary shares. ADR holders will receive the dividend in US dollars through their usual financial intermediary.

Further details on the agenda and other issues related to the AGM as well as information on dividend payment procedures will be made available in the Corporate Governance section of the Investor Center of Rostelecom's website at https://www.rt.ru/en/icenter/administration/meeting/.

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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.

These 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 include the risk of changes the Company's operations and business prospects, the general financial and economic circumstances, relating to regulation of the Russian telecommunications industry and the Russian legislation; the competition and other risks.

For a more detailed discussion of these and other factors, see the Company's Annual Report on Form 20-F for its most recently completed fiscal year and the Company's other public filings with The  U. S. Securities and Exchange Commission. Many of these factors are beyond the Company's ability to control or predict. Given these and other uncertainties, the Company cautions 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 to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as maybe required under applicable the U.S. federal securities laws.

Rostelecom Headquarters Address: 14, 1st Tverskaya-Yamskaya street, Moscow, 125047, Russia

Phone: +7 (095) 972–82–83 Fax: (095) 787–28–50