Moscow, March 19, 2008. COMSTAR – United TeleSystems OJSC (COMSTAR-OTS, LSE: CMST), the largest operator of integrated telecommunication services in Russia and CIS announces that the extraordinary shareholder meeting of Moscow City Telephone Network, which is a part of the group of companies COMSTAR - United TeleSystems, appointed Nikolai Maximenka MGTS OJSC general director.

Upon a resolution of the Board of Directors of MGTS OJSC, Nikolai Maximenka has been working as the company's temporary general director since February 04, 2008.

The shareholder meeting has also decided to early terminate powers of Alexei Goltsov as general director of MGTS OJSC.

"Moscow City Telephone Network development is one of the important strategy aspects for COMSTAR – United TeleSystems. The objectives of the newly appointed General Director Nikolay Maksimenka include measures to enhance company efficiency, strengthen the group's positions in the Moscow broadband access market, improve customer-related services, upgrade data network transport level and "last mile" segment on the basis of FTTx, with a number of other equally important projects to follow," said Sergey Pridantsev, President of COMSTAR - United TeleSystems OJSC after the appointment.

Nikolai Alexeevich Maximenka

Born on January 04, 1963. Graduated from the Far East Technological Institute (Vladivostok) in 1992. Obtained MBA degree from the International University (Moscow) in 2004.

Has been working in the telecommunication industry since 1985. In 1985 – 1991, worked as a member of an installation team with the City Telephone Network, Rural and City Telephone Network Service (SGSTS) of the Primoriye Regional Production and Technical Telecommunication Department. In 1991 – 2001, held the position of chief engineer with Vladivostok International Telephone Network in Elektrosvyaz OJSC, Primorsky Krai; and in 2001 – 2006 worked in Primorsky Branch of Dalsvyaz OJSC: first, as deputy technical director, and then as deputy general director of Dalsvyaz OJSC, director of Primorsky Branch.

Held the position of deputy general director, director of Moscow Branch, CenterTelecom OJSC from February 2007.

Headed by Nikolai Maximenka, Moscow Branch of CenterTelecom has developed and commenced implementation of the Anti-crisis Program for Moscow Branch; reorganized of the company's organizational structure; centralized accounting and reporting functions, personnel services, IT services, motor transport divisions, procurement and administrative management; introduced the motivation system for employees involved in sales and customer connection; developed and launched the program for optimization of expenses on premises leased.

Obtained the title of Master of Telecommunications in 2003. Won the Best Business Achievements international competition as the Best Top Manager (the 4th International Congress "From Quality Management to Business Quality").