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Financial Corporation "Sistema"

December 10, 2003

MTS stock listed at MICEX

Moscow, December 8, 2003. OAO Mobile TeleSystems (NYSE: MBT), the biggest cellular telecoms operator in Russia and Central and Eastern Europe, now has its shares listed on the Moscow Interbank Currency Exchange (MICEX). MICEX listing has been secured within the framework of a strategy aimed at creating a market for MTS stock in Russia. In conformity with the MICEX Listing Rules, under which securities can be listed and traded on the Moscow Interbank Currency Exchange, the MICEX Board meeting on November 28, 2003, put the ordinary shares of OAO MTS on its Quotation List B. The company filed an application for B listing qualification on the MICEX in early October 2003. Simultaneously, its shares were put on the MICEX quotes for over-the-counter securities, and trading in them started on October 15, 2003. Today, a total of nearly $5 million in MTS stock is traded on the exchange and OTC markets (1). All through this week, the MTS management is holding a series of meetings with representatives of leading Russian investment companies to give Russian investors a rundown of the company’s financial and operating performance and its growth prospects. “Russian investors are gradually acquiring a bigger role in the Russian stock market,” said Vasily Sidorov, President of OAO MTS. “Over time, their role will become even greater. MICEX listing enhances the liquidity of the company’s stock on the Russian market. Besides, MICEX listing gives the company a promise of being listed in the MSCI index, which will be a significant boost to the company’s international investor base.” Currently, MTS shares are traded as ADRs on the New York Stock Exchange (NYSE) and as GDRs (Global Depository Receipts) in the European over-the-counter market. The company has a market capitalization of more than $7.8 billion. __________________________________________ (1) According to Renaissance Capital Investment Bank. For more detail, contact: Andrei Braginsky External Relations Department ??? Mobile TeleSystems Tel: +7 095 9116553 E-mail: pr@mts.ru *** OAO Mobile TeleSystems (MTS) is the biggest mobile telecoms operator in Russia and Central and Eastern Europe in terms of subscription numbers. Together with its subsidiaries, the company provides services to over 15 million subscribers. Russia’s 76 regions and areas of Belarus and Ukraine where MTS and its subsidiaries hold licenses to provide GSM services have a population of around 186.3 million. MTS shares have been listed under the MBT code on the New York Stock Exchange since June 2000. *** Some statements in this Press Release may contain references to projects or predictions in respect of coming developments or the company’s future financial transactions consistent with the relevant provisions of the US Securities Act of 1995. These statements contain words or phrases such as “expected,” “estimated,” “intends,” “will be,” “could be,” or the like. We want to caution readers that these statements are mere assumptions and that actual developments or results could be different from these assumptions. We are not going to revise these statements in order to bring them in line with actual results. We refer readers to documents, including Form 20-F, that the company sends to the US Securities and Exchange Commission. These documents contain and disclose key factors, including those indicated in the Risk Factors section in Form 20-F. These factors could be behind differences between actual results and projects or forecasts. They include possible variations in quarterly performance results, competition conditions, impact of growing new services and tariff structures, rapid changes in industrial processes and the market situation, acquisition strategy, risk related to telecoms infrastructure, Russian market risk, stock price variations, financial management risk, and emergence of other risk factors.

 

 

 

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