Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications operator in Russia and the CIS, announces that the Tashkent Commercial Court declared Uzdunrobita FE LLC, MTS’s wholly-owned subsidiary in Uzbekistan (“Uzdunrobita”, "MTS-Uzbekistan"), bankrupt and has initiated liquidation procedures. In accordance with the terms of local legal liquidation procedures, Uzdunrobita’s CEO has been relieved of his duties, and all powers regarding oversight and governance of Uzdunrobita now rest with the liquidation administrator. Mr. Utkir Bakhriev has been appointed as a liquidation administrator of Uzdubrobita.

MTS reserves its rights to pursue all available legal options both in Uzbekistan and internationally in order to claim damages or seek any other available remedy in connection with the unlawful termination of Uzdunrobita’s operations in Uzbekistan.

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

Learn more about MTS. Visit the official blog of the Investor Relations Department at www.mtsgsm.com/blog/