“COMSTAR – United TeleSystems” JSC, the leading integrated telecommunications operator in Russia and the CIS, today announced that, following the Extraordinary General Meeting of its Shareholders on April 14, 2008, the new Board of Directors of the Company was elected.

The shareholders approved the new Board of Directors as follows:

1. Anatoly Akimenko, Vice President of Access Industries

2. Anna Goldin, Vice President for Legal Issues and Head of Legal Group of Sistema

3. Sergey Drozdov, Senior Vice President, Head of Property Group of Sistema

4. Dietmar Kuhnt, Member of Supervisory Boards of Allianz-Versicherungs-AG, BDO Deutsche Warentreuhand AG, Dresdner Bank AG, GEA Group AG, Hapag Lloyd AG, Hochtief AG and TUI AG; Independent Director of Comstar UTS

5. Andrey Matyukhov, Director of Portfolio Strategy Department of Strategy and Development Division of Sistema

6. Sergey Pridantsev, President and CEO of Comstar UTS

7. Yngve Redling, Chairman of the Swedish-Russian bilateral working group for information Technology, Independent Director of Comstar UTS

8. Vitaly Savelyev, First Vice President, Head of Telecommunications Asset Management Division of Sistema

9. Dmitry Ustinov, Head of Financial Department of Finance and Investments Division of Sistema

Mr. Savelyev was elected as Chairman of Comstar’s Board of Directors.