Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces interim results as of September 28, 2010 of the Company’s acquisition of 36,256,945 ordinary Comstar shares or 8.68% of Comstar’s issued share capital. The acquisition was made in conjunction with MTS’ Voluntary Tender Offer (“VTO”) to Comstar shareholders that closed on September 21, 2010.

In accordance with Russian law, an acquisition of a shareholding in a company equal to or exceeding 5% of such company’s charter capital or amount of its outstanding stock requires public disclosure.

The final results of the VTO will be disclosed on October 7, 2010.

Documentation regarding the MTS VTO to acquire Comstar shares is available at https://www.mtsgsm.com.