Moscow, Russian Federation – Mobile TeleSystems PJSC (“MTS” or "the Company" – NYSE: MBT; MOEX: MTSS), the leading telecommunications provider in Russia, announces a change in the coupon rate of the series 08 ruble-denominated bond ("the bond") from an annual rate of 10.75% to 9.25% for 13-14 coupon periods in accordance with the put option.

As the bond carries a one-year put option, bondholders are entitled to a repurchase of their respective securities by the Company. Delivery instructions can be submitted from November 1, 2016 until November 8, 2016. The settlement is scheduled for November 10, 2016. A new put option is set for 15th coupon period.

Gazprombank, the Lead Arranger of the bond, will act as the Repurchase Agent.

The RUB 15 billion series 08 ruble-denominated bond with semi-annual payments and maturity on November 03, 2020. Gazprombank, VTB Capital, Sberbank, Bank of Moscow acted as Lead Arrangers of the bond. The bond was included in the "Level 1" quotation list on the Moscow Exchange.

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For further information, please contact in Moscow:

Joshua B. Tulgan
Director, Department of Corporate Finance and Investor Relations
Mobile TeleSystems PJSC
Tel: +7 495 223 2025
E-mail: ir@mts.ru