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Mobile TeleSystems

October 6, 2004

MTS announces subscriber growth numbers for September 2004

Moscow, Russian Federation — October 6, 2004 — Mobile TeleSystems OJSC (“MTS” — NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces that its consolidated subscriber base reached 26.63 million users on September 30, 2004.

During September 2004 MTS’ consolidated subscriber base increased by 1.09 million subscribers.

Commenting on the subscriber growth numbers, MTS’ Vice President and Chief Marketing Officer, Mikhail Susov, said “September resulted in another month of strong subscriber growth across the markets in which we operate; organically we added over one million customers on a net basis. Notably, MTS took the lead in Belarus during September, underlining our ability to replicate our Russian success in developing greenfield operations in another country’s market. In little over two years we have established a modern GSM network in Belarus, winning the trust of consumers and outnumbering the competition.”

(mln subscribers) Sept. 30, 2004 Aug. 31, 2004 Growth Subs Growth % Sept. 30, 2003 Growth Subs Growth %
Total consolidated subscribers, end of period 26.63 25.54 1.09 4.3% 13.90 12.74 91.7%
Russia 20.84 20.03 0.81 4.1% 11.35 9.50 83.7%
Moscow and the Moscow region 6.70 6.53 0.17 2.6% 4.49 2.21 49.2%
St. Petersburg and the Leningrad region 1.61 1.57 0.04 2.3% 1.06 0.55 52.2%
Rest of Russia 12.54 11.93 0.61 5.1% 5.80 6.74 116.1%
Ukraine 5.53 5.27 0.26 4.9% 2.55 2.98 116.7%
Uzbekistan 0.26 0.24 0.02 9.7%
MTS Belarus1 0.97 0.90 0.07 7.8% 0.31 0.66 214.0%
1

MTS owns a 49% stake in Mobile TeleSystems LLC, a mobile operator in Belarus, which is not consolidated.

For further information contact:

Mobile TeleSystems, Moscow
Investor and Public Relations
Andrey Braginski
tel: +7 (095) 911-65-53
e-mail: ir@mts.ru

Mobile TeleSystems OJSC (“MTS”) is the largest mobile phone operator in Russia and the CIS. Together with its subsidiaries, the Company services over 26.6 million subscribers. The regions of Russia, as well as Belarus, Ukraine and Uzbekistan, in which MTS and its subsidiaries are licensed to provide GSM services, have a total population of approximately 225.8 million. Since June 2000, MTS’ Level 3 ADRs have been listed on the New York Stock Exchange with the ticker symbol MBT. Additional information about MTS can be found on MTS’ website at www.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/A. 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, volatility of stock price, financial risk management and future growth subject to risks.

 

 

 

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