Moscow, Russia – June 29, 2010 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the largest integrated telecommunications provider in Moscow and 82 Russian cities, announces the results of its Annual General Meeting of Shareholders, held on June 29, 2010.

The Meeting decided not to pay any dividend for the full year 2009, due to the losses reported for the full year under Russian Accounting Standards (RSA) and US GAAP.

The Meeting approved the following composition of the Board of Directors of Comstar-UTS:

1. Ulf Backmeyer, Deputy Director of Finance in MTS-Russia Business Unit

2. Mikhail Gerchuk, Vice President and Chief Commercial Officer at Mobile TeleSystems

3. Ruslan Ibragimov, Vice President For Corporate And Legal Matters at Mobile TeleSystems

4. Konstantin Markov, Director of Moscow Macro-Region at Mobile TeleSystems

5. Evgeny Olkhovsky, Head of Strategic Planning and Control at Mobile TeleSystems

6. Sergey Pridantsev, President of Comstar-UTS

7. Yngve Redling, Chairman of the Swedish Russia & CIS Chamber of Commerce and an Independent Director of Comstar-UTS

8. Michael Hecker, Vice President for Strategy and Corporate Development at Mobile TeleSystems

9. Thomas Holtrop, Supervisory Board member at Gruner + Jahr and an Independent Director of Comstar-UTS

10. Vladimir Hrenkov, Director of Broadband Access Development and Fixed-line business at Mobile TeleSystems

11. Mikhail Shamolin, President of Mobile TeleSystems

The Annual General Meeting also approved the Annual Report and the annual accounts, including the full year 2009 Profit and Loss statement of Comstar-UTS. ZAO  Deloitte & Touche CIS was elected as Auditor of the accounts of Comstar-UTS for the full year 2010.