Moscow, Russian Federation – PJSC MTS (NYSE: MBT, MOEX: MTSS), the leading telecommunications operator in Russia, announces that it has amended its Depositary Agreement to provide MTS’s depositary bank, JPMorgan Chase Bank, N.A., (the “Depositary”), the ability to accept additional deposits of up to 87,929,284 MTS shares (the “Shares”) represented by 43,964,642 additional American Depositary Shares (the “ADSs”) on an equitable basis.

Under recent changes to its Depositary Agreement, MTS and its Depositary have established procedures to process future deposits to provide equal opportunity for interested investors to deposit Shares under the Depositary Agreement. During the period from 09:00 EST (New York City time) on June 9, 2016, through 17:00 EST June 16, 2016, the Depositary will accept binding indications of interest through the proper completion and timely submission of a form of application which may be downloaded at https://www.adr.com/Home?cusip=607409109. The full text of the amendment to the Depositary Agreement is available on the website of the U.S. Securities and Exchange Commission at https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001115837&owner=include&count=40&hidefilings=0

Upon the completion of the application window indicated above, the Depositary will determine if all or a portion of the Shares included in the binding indications of interest that were properly and timely submitted may be deposited with the Depositary’s account with Sberbank of Russia (the “Custodian”), the Depositary’s custodian bank in order to receive ADSs. If in aggregate the number of Shares indicated in all of the accepted binding indications is not more than 87,929,284, investors whose binding indications were accepted will be advised accordingly by the Depositary and will be obligated to comply with the provisions of the Deposit Agreement regarding the issuance of ADSs and promptly deliver that number of Shares indicated in such investor's binding indication to the Custodian. To the extent the number of Shares sought to be deposited based upon all binding indications properly and timely received during the indication period exceeds 87,929,284 Shares, the number of Shares accepted for deposit from such binding indications shall be reduced by the Depositary on a pro rata basis. Each investor whose binding indication was pro rata accepted will be advised by the Depositary of the number of Shares required to be deposited by such investor, each of whom will be obligated to comply with the provisions of the Deposit Agreement regarding the issuance of ADSs and to promptly deliver to the Custodian for deposit under the Deposit Agreement the exact number of Shares indicated by the Depositary. Deliveries of Shares shall be required within three (3) business days of the date on which the Depositary first notifies the investor that all or a portion of such investor's binding indication has been accepted.

For every two (2) Shares accepted by the Depositary for deposit at the Custodian, the depositing investor (or such person or entity directed by such depositing investor) will receive one (1) ADS.

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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