Moscow, Russian Federation – Mobile TeleSystems OJSC (the “Company” or “MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that “COMSTAR – United TeleSystems” JSC (“Comstar” - LSE: CMST), a majority-owned subsidiary of MTS, has released its second quarter 2010 financial and operating results on August 25, 2010.

For full disclosure materials for the period ended June 30, 2010, please visit Comstar’s corporate website at https://www.comstar-uts.ru/en/for_investors/finresults/2010/2q/.