Moscow, Russian Federation – Mobile TeleSystems PJSC (“MTS” or the “Company” – NYSE: MBT; MOEX: MTSS), the leading telecommunications provider in Russia and the CIS, announces the reduction of its authorized capital to RUB 199.8 mln (RUB 199,838,157.50), which consists of 1,998,381,575 outstanding ordinary registered shares, from RUB 206.6 mln (RUB 206,641,356.20), or 2,066,413,562 shares.

MTS incorporated and registered the respective changes in the Company's Charter. The cancellation of 68,031,987 treasury shares will take place before the end of August 2016.

MTS held 67,995,335 of treasury shares subject to cancellation after the liquidation of its 100% subsidiary - Mobile TeleSystems Bermuda Limited (Hamilton, Bermuda). The remaining 36,652 of treasuries belonged to MTS following previous reorganization procedures.

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For further information, please contact in Moscow:

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