Moscow, Russia – March 3, 2010 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the largest integrated telecommunications service provider in Moscow and 69 Russian cities, today announced that its the Extraordinary General Meeting of Shareholders (“EGM”), held on March 3, 2010 has elected a new Board of Directors.

The new Board of Directors of Comstar comprises:

1. Ulf Backmeyer, Director for Controlling at Mobile TeleSystems

2. Michael 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. Viktor Stankevich, Director for External Resources Control and Management at Mobile TeleSystems

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

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

11. Mikhail Shamolin, President of Mobile TeleSystems

The EGM also elected a new Revision Committee, comprising five representatives from Mobile TeleSystems.

The number of members of the Board of Directors has increased to 11 from 9, and the number of members of the Revision Committee of Comstar-UTS has increased to 5 from 3 following the decision taken at the EGM of Comstar-UTS shareholders, held on December 4, 2009.