On September 29th, 2000, the business weekly “Kompaniya” announced the results of “The Best Managers of Russia” contest. The contest was based on the by-the industry principle. The magazine chose the industries most attractive to the investment community, playing an important role in Russia’s economy: oil and gas, metallurgy, food production, telecommunications, finances, distribution and retail.

Yuri Khnychkin, “Kompaniya” deputy editor-in-chief of the magazine, said: “The persons who were entered on the list are really the best in their spheres. We estimated them not according to the coverage they get in the press, they are often known only in the professional environment. We picked up the most outstanding events in each industry since autumn 1999 till today and announced the names of the persons who were behind those events.”

In the nomination “Telecommunications” two representatives of “Mobile TeleSystems” OJSC were entered on the list of the eight best managers of Russia. It is Alexei Byanov, MTS Vice-President, Investments and Securities. He coordinated MTS’s program of the Initial Public Offering in June 2000. The title “Best Manager of Russia” was also granted to Igor Timofeev, MTS Marketing Director: as a result of MTS marketing policy in 2000 the company’s customer base has grown two and a half times.

“One can not but notice Mobile TeleSystems’ success,” — said Yuri Khnychkin. “Without any doubt MTS’s IPO is the event of the year on the Russian telecommunications market. The same can be said about the tremendous customer base growth achieved by the company this year”.

Alexei Byanov, MTS Vice-President, Investments and Securities, headed the project on MTS’s IPO. Under his direction a number of measures were carried out to enhance the company’s attractiveness to investors and transparency in accordance with generally accepted European standards. Alexei Byanov was responsible for the performance by legal councils of the comprehensive “due diligence”, preparation of the company’s prospectus and registration statements. On behalf of MTS Mr. Byanov coordinated the activities of underwriters, auditors, legal councils and other third party advisers.

Currently Mr. Byanov is responsible for MTS cooperation with international investors, investor relations and capital rising; regional development and corporate issues.

Igor Timofeev, “Mobile TeleSystems” OJSC Marketing Director, developed and launched a new tariff policy aimed at the mass market. Under his leadership the analysis of market and competitors activities, traffic cost calculations, forecasting of traffic growth due to new tariffs were carried out, an effective advertising campaign was implemented. As a result of these activities MTS launched new tariff plans in spring 2000, that established new price standards on the Moscow cellular communications market. The advantages of the new MTS’s tariff policy against the existing offers on the market ensured a tremendous ? more than two and half times- customer base growth and high revenues for the company.

Currently Mr. Timofeev is responsible for the company’s marketing, advertising, sales and the development of its dealer network.