OREANDA-NEWS. On 21 August 2008 was announced, that OJSC Far East Telecom entered a resolution for establishing two committees within the Company Board of Directors: Audit Committee and Personnel and Emolument Committee.

The work of the committees within the Board of Directors will be aimed at improving quality of Company decisions and corporate management level increasing in general. The committees are made of representatives of minority shareholders and OJSC Svyazinvest to allow interests of all the parties concerned to be considered in decision making.

Audit Committee membership:

Degtyarev Valeriy Viktorovich, General Director, JSC Professional Telecommunications;

Golubitskiy Bogdan Ivanovich, Deputy Head of Department of Economy and Finance, OJSC Svyazinvest;

Vasilyeva Ekaterina Olegovna, Director of Corporate Finance Department, Investment Block of OJSC KIT Finance Investment Bank.

V.V. Degtyarev was elected the Committee Chairman.

Personnel and emolument Committee membership:

Shevchuk Alexander Viktorovich, Expert, Investors Rights Protection Association;

Feoktistova Natalia Vadimovna, Head of Division, Department of Corporate Management and Legal Support, OJSC Svyazinvest;

Alekseev Mikhail Alekseevich, representative of OJSC Svyazinvest.

A.V. Shevchuk was elected the Committee Chairman.