June 2000

Mobile TeleSystems OJSC Announces the Completion of Its Initial Public Offering

First Russian Company to Enter International Equity Markets Since August 1998 30 June 2000 Mobile TeleSystems OJSC (“MTS”) today announced the completion of its Initial Public Offering (the “Offering”) of 15,010,612 American Depositary Shares (ADSs), each representing 20 shares of MTS common stock, at an offer price to the public of US$21.50 per ADS. As of today MTS’s ADSs were officially admitted for listing on the New York Stock Exchange under the symbol “MBT”.

Contact investor relations:

+ 7 495 223 20 25 ir@mts.ru

MTS Investor Relations
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