Moscow, Russia – February 9, 2011 – “COMSTAR – United TeleSystems” JSC (“Comstar”) (LSE: CMST), the largest integrated telecommunications provider in Moscow and 84 Russian cities, with a presence in Ukraine and Armenia, today announces that the Board of Directors of Moscow City Telephone Network OJSC (“MGTS”) at a meeting, held on February 7, 2011, set a date for an Extraordinary General Meeting of Shareholders (“EGM”) for April 22, 2011.

The proposed agenda of the EGM includes the following items:

- Early termination of the current Board of Directors’ powers;

- Election of a new Board of Directors;

- Early termination of the current Revision Committee’s powers; and

- Election of a new Revision Committee.

Shareholders registered at the record date of February 8, 2011, will be eligible to participate and vote at the EGM.