Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” or “the Company” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces the decisions reached at the meeting of its Board of Directors (“BoD” or “the Board”) held on July 31, 2014.

At the meeting, MTS’ Board of Directors set the date for the Company’s extraordinary general meeting of shareholders (“the EGM”) for September 30, 2014. The record date for the Company’s shareholders and ADR-holders entitled to participate in the EGM was set for August 14, 2014. The Board recommended that the EGM approves semi-annual dividends of RUB 6.20 per ordinary MTS share (RUB 12.40 per ADR) amounting to the total of RUB 12.8 billion (RUB 12,811,764,084.40) on the basis of the Company’s H1 2014 financial and operating results. The Board also recommended to set the record date for the Company’s shareholders and ADR-holders entitled to receive dividends for October 14, 2014.

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For further information, please contact in Moscow:
Joshua B. Tulgan
Director, Department of Corporate Finance and Investor Relations
Mobile TeleSystems OJSC
Tel: +7 495 223 2025
E-mail: ir@mts.ru