July 2010

28.07.2010
MTS Launches First Commercial LTE Network in CIS

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.

16.07.2010
MTS Acquires Multiregion

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).

15.07.2010
Ad Hoc Notice

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.

13.07.2010
MTS Launches Voluntary Tender Offer for up to 9% of Comstar Shares

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has today submitted documentation to COMSTAR – United TeleSystems JSC (“Comstar” - LSE: CMST), a leading supplier of integrated telecommunication solutions in Russia and the CIS, regarding the MTS Voluntary Tender Offer (“VTO”) to acquire up to 37,614,678 Comstar ordinary shares that MTS does not already own for RUR 220.0 per Comstar share. The number of ordinary shares is equivalent to 9.0% of Comstar’s issued share capital, and includes shares underlying Comstar Global Depositary Receipts (“GDR”s). The launch of the VTO follows the announcement on June 25, 2010 that the Boards of Directors of MTS and Comstar had approved and recommended the merger of MTS and Comstar. The VTO documentation was then filed with the Federal Service for Financial Markets (“FSFM”), which has now completed its statutory review. MTS currently owns 61.97% of Comstar, or 64.03% when excluding treasury shares, and consolidates Comstar in its financial results.

12.07.2010
MTS Further Reduces Interest Rate on the Gazprombank Financing

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has further lowered the interest rate on the Gazprombank credit facilities on July 10, 2010.

02.07.2010
MTS Secures Financing from Finnvera

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has secured a credit facility in the amount of up to approximately EUR 300 million backed by Finland’s export credit agency Finnvera plc to be used for the development of the Company’s mobile networks in Russia and Ukraine through purchases of equipment and services from Nokia Siemens Networks.

01.07.2010
MTS Increases Stake in TS-Retail

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has increased its direct ownership in TS-Retail OJSC (TS-Retail), a subsidiary of AFK Sistema, from 25% to 40% for a nominal sum. Effective control in the company increased to 55% through Comstar-UTS’ ownership in TS-Retail.

Contact investor relations:

+ 7 495 223 20 25 ir@mts.ru

MTS Investor Relations
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