Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that the Company’s five outstanding ruble-denominated bonds have been moved to the “A1” quotation list on the Moscow Interbank Currency Exchange (MICEX).

Following the decision by MICEX, MTS’ series 01-03 and series 04-05 ruble-denominated bonds are to be shifted from their respective “B” and “V” quotation lists to the “A1” quotation list.

Mr. Aleksey Kaurov, the Director of Corporate Finance at MTS, highlighted: “We welcome the decision to include our ruble bonds in the ‘A1’ quotation list – the highest tier available on MICEX. The move should attract a wider category of investors that were previously unable to invest in the Company’s debt securities such as pension funds.”

Information on the Company’s outstanding bonds available at https://www.mtsgsm.com/information/debt_market/