Moscow, Russia – May 21, 2010 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the largest integrated telecommunications provider in Moscow and 82 Russian cities, today announced that a meeting of its Board of Directors, held today, has set the date for the Annual General Meeting of Shareholders (“AGM”) for 29 June 2010. The Board of Directors has also set the agenda for the Meeting.

Shareholders whose names are entered in the register of shareholders as at 21 May 2010 will have the right to attend the AGM.

The Board has put forward the following proposals to the AGM:

1. To approve the proposed agenda and procedure for the Annual General Meeting;

2. To approve the Group’s Annual Report and Russian Accounting Standards (RAS) annual financial statements for 2009;

3. To approve the distribution of profits, including dividend payment for 2009;

4. To approve remuneration for members of the Board of Directors;

5. To elect members of the Board of Directors;

6. To elect members of the Audit Commission;

7. To approve Comstar’s auditor for 2010;

8. To adopt a new edition of the Group’s Regulation on remuneration and compensation paid to members of the Board of Directors.

The Board of Directors has proposed to the AGM that no dividend shall be paid for the full year 2009, as a result of US GAAP and RAS net loss reported for the full year 2009.

The Board of Directors also proposes that the AGM approves Deloitte & Touche as auditors for Comstar for the full year 2010.