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Mobile TeleSystems

April 16, 2004

MTS increases ownership in its Khabarovsk subsidiary

Moscow, Russian Federation — April 16, 2004 — Mobile TeleSystems OJSC (“MTS” — NYSE: MBT), the largest mobile phone operator in Russia and Ukraine, has acquired an additional 40% stake in Far East Cellular Systems-900 CJSC (“FECS-900”), increasing its ownership in the company to 100%.

In line with its strategy of consolidating the Company’s ownership in its subsidiaries, MTS has acquired a further 40% stake in FECS-900 for $8.3 million from Far East Telecommunications Company OJSC. In August 2001, MTS acquired a 60% controlling stake in FECS-900 through Telecom-900 CJSC. As a result of today’s transaction, MTS’ effective ownership in FECS-900 increases to 100%.

FECS-900 provides GSM 900/1800 services under the MTS brand in the Khabarovsk region (population 1.4 million), located in the Siberian part of Russia. The company’s subscriber base was approximately 151,110 users as of April 15, 2004. According to AC&M-Consulting, the company’s market share was 46.3% and mobile penetration in the region was 22% at the end of March 2004.




For further information contact:

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

* * *
Mobile TeleSystems OJSC (or “MTS”) is the largest mobile phone operator in Russia and Ukraine. Together with its subsidiaries, the company services over 19.2 million subscribers. The regions of Russia as well as in Belarus and Ukraine in which MTS and its subsidiaries are licensed to provide GSM services have a total population of approximately 200.6 million. Since June 2000, MTS’ shares 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” 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. 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.

All contents copyright. © 2004 Mobile TeleSystems OJSC. All rights reserved. For the rules and conditions of use of this web site, see «Rules and Disclaimers». Licenses Numbers 4817, 5544, 5607, 5608, 5964, 5965, 6731, 8233, 9830, 10004, 10014, 10015, 10020—10024, 10165, 11030, 14452—14457,14462—14465, 15693, 16944, 16945, 17200, 18808—18811,19425—19427, 19628, 19751, 20382, 22744, 24134—24136, 24791, 29524, 29525, 30255—30268 issued by the Communication and Informatisation Ministry of the Russian Federation to MTS OJSC and its subsidiaries. Product is certified.

E-mail: info@mts.ru, telephone: (095) 766-0177
 
 
 

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