print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Mobile TeleSystems press releases

Mobile TeleSystems

July 23, 2003

Mobile TeleSystems announcement

Moscow, Russian Federation - July 23, 2003 - Mobile TeleSystems OJSC ("MTS" - NYSE:MBT) informs that the board of directors of Moscow City Telephone Network (MGTS) has nominated MTS President Mikhail Smirnov, as the new general director of MGTS. Mr Smirnov has accepted the offer, which is subject to confirmation by MGTS shareholders on August 15, 2003, to head MGTS, one of the largest fixed line operators in Russia.

On August 11, 2003 the board of directors of MTS will select a nominee for the position of the Company's President to be approved by MTS' general shareholders meeting scheduled for October 2003.

The nomination of Mr Smirnov to the position of MGTS general director recognizes his achievements as the President of MTS. Mr Smirnov has extensive experience in the management and development of telecommunications business, bringing a large company to international capital markets and growing its market capitalization.

Commenting on his nomination, Mr. Smirnov said "I was offered a new and challenging position. My objectives will include making MGTS even more attractive to investors and bringing the Company to international capital markets. Under my management, MTS has become a leading mobile operator in Russia and the largest telecom company in Russia in terms of market capitaliation. I am looking forward to taking on new responsibilities at MGTS"

***
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically, the Company's most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captined "Risk Factors," that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures; rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, risks associated with operating in Russia, volatility of stock price, financial risk management, and future growth subject to risks.

***

For further information contact:

Mobile TeleSystems, Moscow

Investor and Public Relations
Andrey Braginski
tel: +7095 911 6553
e-mail: ir@mts.ru

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer