OREANDA-NEWS. December 26, 2012. The board of the directors of Svyazinvest (hereafter, the Company) held a regular meeting

The meeting was presided over by Alexander Trubetskoy, who was elected as chairman of the board of the directors of the Company at a meeting held by absentee balloting on November 13, 2012.

The board reviewed a management report on the pace of cost-cutting on the procurement of goods, works, and services per unit of production in real terms for the first nine months of 2012. The pace of cost-cutting on the procurement of goods, works, and services amounted to 28.2%, (while the target value for cost-cutting was at least 10%) for the first nine months of 2012 compared to the year-earlier period. The report received a positive assessment by the board of directors.

The board also examined a report on the results of Svyazinvest’s procurement activity for the third quarter of 2012. This issue was submitted for consideration to the board of directors in execution of instructions of the board of directors for management on February 21, 2011 whereby management is to report to the board of directors on a quarterly basis on the results of the Company’s procurement activity.

In accordance with a number of resolutions issued by the government of the Russian Federation , the Company is to publish complete information on its procurement activity on the official website zakupki.gov.ru.

The board of directors also considered other issues pertaining to the Company’s internal activity.

The board of directors meeting was attended by the following members:

Mikhail Zadornov;

Yury Kudimov;

Ivan Rodionov;

Vadim Semenov;

Alexander Trubetskoy.