Moscow (March 19, 2014) – MobileTelesystems OJSC (“MTS” or the “Company” — NYSE: MBT), the leading telecommunications operator in Russia and the CIS, has been informed that in addition to the previously disclosed investigation by the United States Securities and Exchange Commission related to MTS’s former operations in Uzbekistan, the United States Department of Justice also is conducting a parallel investigation. The investigations are concerned with MTS and not merely with the activities of unaffiliated parties. As previously disclosed, the Company has received a request for documents from the SEC and intends to cooperate with these investigations.

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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