Investor Presentaiton

31 Rostelecom List of abbreviations BoD CDMA CAPEX DLD DTH Direct To Home FMC AGM BB Annual General Shareholders Meeting Broadband Board of Directors Code Division Multiple Access (3G) Capital Expenditures Domestic Long Distance Fixed/mobile convergence FTTx Fiber to the x FX GSM HH ILD IPTV Internet Protocol Television RTO Foreign Exchange Global System for Mobile Communication (2G) Households International Long Distance Interregional Company LTE Long Term Evolution (4G) LTM Last Twelve Month MSCI MVNO NGN OIBDA RTCM SG & A SME Morgan Stanley Capital International Mobile Virtual Network Operator Next Generation Network Operating Profit Before Depreciation and Amortization Rostelecom Selling, General and Administrative expenses Small and Medium - size Enterprise www.rostelecom.ru

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