OREANDA-NEWS. Open Joint Stock Company “MegaFon” (“MegaFon”, or the “Company”) (LSE: MFON), a leading Russian universal telecommunications operator, announces the results of the Extraordinary General Meeting of shareholders held on March 4 at 30, Kadashevskaya Embankment, Moscow.

The EGM elected 7 members to serve as Directors on the Board of OJSC MegaFon. The Board now comprises:

Mr Sergey Soldatenkov, Chairman (representing AF Telecom)

Ms Marie Cecilia Edstrom (representing TeliaSonera)

Mr Jan David Erixon (representing AF Telecom)

Lord Myners (Independent)

Lars Gunnar Nyberg (representing TeliaSonera)

Mr Jan Erik Rudberg (Independent)

Ivan Streshinsky (representing AF Telecom)

Mr Sergey Soldatenkov, Chairman of the Board of Directors, stated:

“I would like to welcome Lord Myners to the Board of MegaFon, as an Independent Director. We look forward to his contribution to our discussions, drawing on his long experience of governance at public companies. With this appointment a majority of the members of the Board now represent minority shareholders, further strengthening MegaFon’s corporate governance framework.”