Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has been notified by Mobile TeleSystems Finance S.A. (“MTS Finance”), a wholly owned subsidiary of MTS, that The Bank of New York Mellon (“BNY”), in its capacity as trustee under 8.00% notes due January 28, 2012 issued by MTS Finance (the “Notes”), transferred on February 2, 2011 interest payments to holders of the Notes, on behalf of MTS Finance, that were due and payable under the Notes on January 28, 2011 (the “Interest Payments”).