News

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that MTS’ Voluntary Tender Offer (“VTO”) to COMSTAR – United TeleSystems JSC (“Comstar” – LSE: CMST) shareholders will close at 17.00 EST on September 8, 2010 for Global Depositary Receipt (“GDR”) holders in advance of the closing on September 21, 2010 for all other Comstar shareholders.

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has acquired a 95% stake in Metro-Telecom CJSC (Metro-Telecom) from Invest-Svyaz CJSC, a wholly owned subsidiary of Sistema, the largest diversified public financial corporation in Russia and the CIS and majority owner of MTS.

Moscow, Russian Federation – Mobile TeleSystems OJSC («MTS» – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, today announces its unaudited US GAAP financial results for the three months ended June 30, 2010.

Moscow, Russian Federation – Mobile TeleSystems OJSC (the “Company” or “MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that “COMSTAR – United TeleSystems” JSC (“Comstar” - LSE: CMST), a majority-owned subsidiary of MTS, has released its second quarter 2010 financial and operating results on August 25, 2010.

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has reached an agreement with Sberbank to lower interest rates on RUB 53 billion in loans.

The management of Mobile TeleSystems (MTS) will be holding a conference call to discuss the Company’s Second Quarter 2010 Financial and Operating Results on Thursday, August 26, 2010.

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that Standard & Poor's Ratings Services has revised upward its Outlook on the Company from Stable to Positive and affirmed existing bond ratings at BB level.

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces the commercial launch of a 4G network based on the Long Term Evolution (LTE) technology in Uzbekistan – the first fully operational 4G network in the CIS and Central Asia.

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has acquired a 100% stake in CJSC Multiregion (“Multiregion”), one of the leading groups of broadband and cable TV providers in the Russian regions, from Cavolo Trading Limited (Cyprus).

Moscow, Russian Federation – Mobile TeleSystems OJSC (the “Company” or “MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, notes the announcement made by COMSTAR – United TeleSystems JSC (“Comstar” – LSE: CMST), the largest integrated fixed–line telecommunications provider in Moscow and 83 Russian cities. Comstar announced that its Board of Directors has recommended today that its shareholders accept the voluntary tender offer (“VTO”) by MTS and tender up to 37,614,678 Comstar ordinary shares representing up to 9.0% of Comstar’s issued share capital and including shares underlying Comstar Global Depositary Receipts (“GDRs”) for RUR 220.0 per Comstar share.