As the result of monitoring current corporate events at OJSC North-West Telecom, the RID-Expert RA national corporate governance rating of the Company was confirmed on level A.

The Level A rating was assigned to OJSC NWT by RID-Expert RA consortium in January 2005. In accordance with the National corporate governance rating methodology, Level A is assigned to the companies if their corporate governance practice level is rated as rather high. Such a high level has been assigned to date to only 5 of the 151 companies participating in the RID-Expert RA National Corporate Governance Rating.

In particular, rating A means that the corporate governance practice of the company meets the requirements of Russian legislation; the company complies to a significant extent with the basic recommendations of the Corporate Conduct Code of the Federal Commission for the Securities Market; risks relating to the infringement of the shareholders’ rights by the insufficiently efficient operation of the management bodies as well as by the information non-transparency of activity are insignificant.

In the experts’ opinion, “compliance with the corporate governance principles is an integral component of the business activity and ethics of OJSC North-West Telecom and the increased obligations of the Company to the shareholders and investors are reflected in the effective corporate governance code of OJSC North-West Telecom”.

For the current results of the National Corporate Governance Rating, visit the web-site of the agency: https://www.raexpert.ru/ratings/corporate/