Moscow, Russia – November 9, 2010 – “COMSTAR – United TeleSystems” JSC (“Comstar”) (LSE: CMST), the largest integrated telecommunications provider in Moscow and 83 Russian cities, with a presence in Ukraine and Armenia, today announces the results of an Extraordinary General Meeting of shareholders in Comstar-UTS (“EGM”), which was held on November 2, 2010. The EGM was convened and votes were cast remotely via proxy.

The EGM approved the following:

1) Amendments to the Charter in order to reconcile certain provisions with the Federal Law ‘On Joint Stock Companies’;

2) A new edition of the bylaw relating to the Board of Directors, following the adoption of the Federal Law ‘On Counteracting the Illegitimate Use of Insider Information and Manipulation of the Market, and on Amendments to Certain Legislative Acts of the Russian Federation’.

The documents are available on the Company’s website at https://www.comstar-uts.ru/en/for_investors/corporative_management/meetings/02112010/.