CEO of MTS Mikhail Shamolin Joins the Board of the GSM Association

MOSCOW, July 10 /PRNewswire-FirstCall/ -- Mobile TeleSystems OJSC ("MTS" - NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces that its president and chief executive, Mikhail Shamolin, joins the board of the GSM Association (GMSA), the global trade association for the mobile industry. Mr. Shamolin is appointed to the board of the GSMA as the representative of MTS.

GSMA's board members include 26 operator representatives and the GSMA CEO Rob Conway. Board members include executives of leading global operators such as China Mobile, AT&T, Orange, Telefonica O2 Europe, T-Mobile, Vodafone, and Telenor Mobile.

"We are pleased to welcome Mr. Shamolin as the new GSMA Board member. As a leading operator in Russia and the CIS, MTS has been at the forefront of the region's development into one of the world's most dynamic mobile markets. Considering his past operational experience and role in shaping MTS' success over the last three years, Mr. Shamolin's perspective will be welcome at the Association," commented GSMA CEO Rob Conway.

"It is a privilege to represent MTS at this highly regarded forum," said Mr. Shamolin. "We see great opportunity in our markets for mobile networks to serve as the primary means by which people make connections, entertain themselves and manage their daily activities. Working in close proximity to the world's leading operators will certainly enable MTS to live up to its promise of being the leading communications brand in the region."

The GSM Association (GSMA) is the global trade association representing more than 750 GSM mobile phone operators across 218 countries and territories of the world. The Association's members represent more than 3 billion GSM and 3GSM connections - over 86% of the world's mobile phone connections. In addition, more than 200 manufacturers and suppliers support the Association's initiatives as key partners.

Mobile TeleSystems OJSC ("MTS") is the largest mobile phone operator in Russia and the CIS. Together with its subsidiaries, the Company services over 86.3 million subscribers. The regions of Russia, as well as Armenia, Belarus, Turkmenistan, Ukraine, and Uzbekistan, in which MTS and its associates and subsidiaries are licensed to provide GSM services, have a total population of more than 230 million. Since June 2000, MTS' Level 3 ADRs have been listed on the New York Stock Exchange (ticker symbol MBT). Additional information about MTS can be found on MTS' website at http://www1.mtsgsm.com/.

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," and 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 captioned "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 and the CIS, volatility of stock price, financial risk management and future growth subject to risks.

  For further information, please contact:

  Mobile TeleSystems, Moscow Investor Relations
  Tel: +7-495-223-2025
  E-mail: ir@mts.ru

CONTACT: For further information, please contact: Mobile TeleSystems, Moscow Investor Relations, Tel: +7-495-223-2025, E-mail: ir@mts.ru

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