Moscow, Russia – March 27, 2012 – Rostelecom OJSC (MICEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its financial statements for the full year of 2011 under Russian Accounting Standards (RAS) have been made available on its website on:       https://www.rostelecom.ru/ir/results_and_presentations/financials/RAS/detail.php?SECTION_ID=1096

The Company would like to draw the attention of investors, shareholders and other stakeholders to the following:

Rostelecom’s financial results under RAS for the first quarter of 2011 do not include any contribution from the seven regional telecom operators or OJSC Dagsvyazinform, which were merged with Rostelecom on April 1, 2011. The Company’s results under RAS for the second, the third and the fourth quarters of 2011 do however comprise the results of the new combined Rostelecom, and therefore include the contributions from the seven regional operators and OJSC Dagsvyazinform, while excluding any contribution from the subsidiaries of Rostelecom OJSC, the regional companies, including NTK and mobile subsidiaries, which is in line with RAS. Rostelecom’s balance sheet as at December 31, 2011, comprises the contributions from all of the companies merged into the new Rostelecom.

A direct like-for-like comparison of the Company’s financial performance under RAS is therefore not appropriate[1], as Rostelecom’s financial results under RAS for the full year of 2010 do not include any contribution from the seven regional operators or OJSC Dagsvyazinform.

Rostelecom intends to publish its consolidated financial results for the twelve months of 2011 under IFRS on April 25, 2012. These results will comprise the contributions from Rostelecom, the seven merged regional operators, OJSC Dagsvyazinform and their subsidiaries, including NTK and mobile subsidiaries.

Please use the following link to access Rostelecom’s combined and consolidated results under IFRS for the years 2008 - 2010, the financial results for the first quarter of 2011, for the first six months of 2011 and for the nine months of 2011:        https://www.rostelecom.ru/ir/results_and_presentations/financials/IFRS.

[1]Notes to the statements include a like-for-like comparison for 2010-2011