Moscow, Russia – September 21, 2010 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the largest integrated telecommunications provider in Moscow and 83 Russian cities, today announced that the Board of Directors (the “Board”) have set the date for Comstar’s Extraordinary General Meeting of Shareholders (“EGM”) for November 2, 2010. The EGM will be convened and votes cast remotely via proxy. Shareholders registered at the record date of September 21, 2010, will be eligible to participate and vote at the meeting.

The proposed agenda of the EGM includes the approval of amendments to the Charter in order to reconcile certain provisions with the Federal Law ‘On Joint Stock Companies’; and the approval of a new edition of the Board of Directors’ bylaw, following the adoption of the Federal Law ‘On Counteracting the Illegitimate Use of Insider Information and Manipulation of the Market, and on Amendments to Certain Legislative Acts of the Russian Federation’.

Further information with regard to the EGM and other related issues will be available on the Company’s web site www.comstar-uts.ru.