MTS receives three nominations for World Communications Awards 2008

16 September 2008

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces that it has received three nominations for the World Communications Awards 2008. The Company made the shortlist in the “Best Brand”, “Best Mobile Operator” and “Best Project Management” award categories.

“MTS’ has one of the most recognized brands in all markets of our operations, and we are delighted that our brand leadership is gaining increasing international recognition,” noted Cynthia Gordon, Chief Marketing Officer of MTS Group. “Nomination for one of the most prestigious international telecoms awards stands as a testament to our market leadership and continued delivery of the highest quality and most innovative products and services.”

MTS is joined by Bharti Airtel, Etisalat, Mobinil and Turkcell for the “Best Brand” award category. This category recognizes the carrier or service provider that has been most effective in creating a compelling brand for its products or services in one or more branches of the media.

MTS is joined by Orange, SK Telecom and Telstra for the “Best Mobile Operator” award category.  This category recognizes mobile operators that have demonstrated a steady growth of data and voice revenues and innovative strategic expansion decisions.

MTS is joined by Alcatel Lucent, Bharti Airtel, Easynet, Orange Business Services and TEO LT for the Best Project Management. MTS received the nomination for the joint Intelligent Network Platforms harmonization project with Comverse.

The winners of the World Communications Awards 2008 will be announced on November 26, 2008.

About the World Communications Awards

The World Communications Awards is one of the most prestigious global telecommunications awards, celebrating its 10th anniversary this year. The Awards recognize the companies and individuals responsible for the innovations, achievements and new services that are helping to build tomorrow’s telecom industry. The Awards are open to all communications providers, whether they are traditional carrier, service provider, multimedia content provider or another organization providing a communication service. The World Communication Awards maintain their fiercely protected independence and focus on the big issues, while encouraging more entries from communications providers across the globe, both large and small, to ensure the awards can truly claim ’world’ status. More information about the Awards is available here.

 
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For further information, please contact:

Mobile TeleSystems, Moscow                                                                                                              
Investor Relations
Tel: +7 495 223 2025
E-mail: ir@mts.ru
 
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Mobile TeleSystems OJSC (“MTS”) is the largest mobile phone operator in Russia and the CIS. Together with its subsidiaries, the Company services over 87.26 million subscribers. The regions of Russia, as well as Armenia, Belarus, Turkmenistan, Ukraine, and Uzbekistan, in which MTS and its associates and subsidiaries are licensed to provide GSM services, have a total population of more than 230 million. Since June 2000, MTS’ Level 3 ADRs have been listed on the New York Stock Exchange (ticker symbol MBT). Additional information about MTS can be found on MTS’ website at www.mtsgsm.com.
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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might,” and the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically the Company’s most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures, rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, risks associated with operating in Russia and the CIS, volatility of stock price, financial risk management and future growth subject to risks.
 
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Contact investor relations:

+ 7 495 223 20 25 ir@mts.ru

MTS Investor Relations
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