Moscow, Russian Federation – Mobile TeleSystems OJSC (the “Company” or “MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, notes the announcement made by COMSTAR – United TeleSystems JSC (“Comstar” – LSE: CMST), the largest integrated fixed–line telecommunications provider in Moscow and 83 Russian cities. Comstar announced that its Board of Directors has recommended today that its shareholders accept the voluntary tender offer (“VTO”) by MTS and tender up to 37,614,678 Comstar ordinary shares representing up to 9.0% of Comstar’s issued share capital and including shares underlying Comstar Global Depositary Receipts (“GDRs”) for RUR 220.0 per Comstar share.

The announcement by Comstar is available here: https://www.comstar-uts.com/en/news_center/pressreleases/