Moscow, Russian Federation — Mobile TeleSystems OJSC (“MTS” — NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it sold its 51.0% stake in ETEL CJSC, fixed-line broadband provider in Ryazan, to a private investor. ETEL CJSC discontinued operations in Q2 2014.

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For further information, please contact in Moscow:

Joshua B. Tulgan
Director, Corporate Finance & Investor Relations
Mobile TeleSystems OJSC
Tel: +7 495 223 2025
E-mail: ir@mts.ru