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Mobile TeleSystems

August 18, 2000

Mobile TeleSystems OJSC presents its new sales office in Moscow

A mobile phone from MTS creates the atmosphere of prestige If you want to be beautiful — get connected!
Moscow, August 18, 2000 — Mobile TeleSystems OJSC [NYSE: MBT], Russia’s leading GSM 900/1800 mobile cellular operator, presented its new sales office in the Western Municipal Area of Moscow. The new office was opened on July 27, 2000 and is located on the first floor of the unique shopping center for perfumery and cosmetics — Arbat Prestige in Ochakovo.

Expanding its operations to the mass market MTS sees to it that its services become both more affordable and comfortable for its subscribers. The new office is the second sales office since the beginning of this year opened in a remote district as opposed to Moscow downtown area. Now the residents of western and south-western districts of Moscow — Novoperedelkino, Solntsevo, Ochakovo-Matveevskoye, Troparevo-Nilukino, Konkovo, Teply Stan, Obruchevsky, Kuntsevo, Ramenki, Mozhaisky — will be able to subscribe to or pay for MTS’ services right in their neighborhood.

The opening of a new sales office was especially important because of the substancial increase in the demand for the services provided by MTS. The marketing initiatives of MTS ensued a rapid growth of sales in 2000. During the first six months the subscriber base more than doubled — from 307,000 in December 1999 to 640,000 by the end of half-year of 2000. As of August 15, 2000 the total net subscriber base was 776,000.

An outstanding feature of the new sales facility is its address which is already well-known to Moskovites. For 2,5 years of work the shopping center Arbat Prestige has become the absolute leader on the Russian market of perfumery and cosmetics. Thousands of Moskovites and visitors coming to the center every day, will now be able to join not only the world of beauty from the leading perfumery and cosmetics manufacturers but to the world of mobile cellular communications by Mobile TeleSystems. Arbat Prestige is famous for its high level of services, the most comfortable policies and a wide range of products. Moskovites and visitors appreciate the accumulative card system with discounts from 5% to 25%. The quality and variety of the products — from every day to luxury items — leaves no room for doubts. Buying perfumery and cosmetics in Arbat Prestige shopping center has become a matter of prestige. That explains the fact that thousands men and women choose to come to Arbat Prestige away from downtown. The shopping center Arbat Prestige in Ochakovo is open every day till 23.00.

Moskovites and visitors who subscribed to MTS’ services after July 27, 2000 in any of the Company’s sales offices are in for a pleasant surprise. In the new MTS’ sales office the subscribers will receive a special gift from Arbat Prestige together with a club card with a 10% discount for the whole range of products of Arbat Prestige. The card is cumulative. All purchases are documented and summed. This allows to acquire a card with a larger discount in future. The price of gifts depends on the tariff plan or the amount of the payment made to MTS.

Among the clients of Arbat Prestige are lots of business women. They will be able to appreciate an opportunity to buy favorite perfumes along with paying for mobile communications services, which have become an integral part of their lives.

Commenting on today’s presentation, Igor Timofeev, Marketing Director of MTS said: “We are pleased to say that our new sales office will become a pleasant surprise not only for the residents of western and south-western districts of Moscow, but also for all women who know and love the shopping center of Arbat Prestige for a long time. Together with Arbat Prestige, MTS works to make the life of our clients more comfortable and beautiful”.

The new sales office is located at 8/1, Natashi Kovshovoi St., Ochakovo, Moscow.

For further information contact:

Eva Prokofyeva
Press Secretary
Tel: +7 (095) 104-49-38

Mobile TeleSystems OJSC (NYSE: MBT) is Russia’s leading GSM 900/1800 mobile cellular operator. MTS has GSM 900/1800 licenses to provide mobile cellular telephony services in 34 regions of the Russian Federation, covering 45% of the country’s population. It has commenced operations in 19 regions covering 39 million people.

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 the Company, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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 statement to conform them to actual results. We refer you to the documents the Company files from time to time with the U.S. Securities and Exchange Commission, specifically, the Company’s most recent Form F-1. 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, volatility of stock price, financial risk management, and future growth subject to risks.



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