Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications operator in Russia and the CIS, announces that its wholly-owned subsidiary, MTS Ukraine (or ‘the Company’), has sold base stations, network infrastructure, IT and telecom equipment and certain other assets located in Crimea, through an open tender procedure, to two private investors for a total price of EUR 17.7 mln.

Previously, on August 06, 2014, MTS suspended its operations in Crimea due to technical issues that have curtailed the Company’s ability to provide telecommunication services for its customers.

In 2013, revenues from operations in Crimea amounted to UAH 980 mln or approximately 9.8% of the company’s total revenue from Ukraine.

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For further information, please contact in Moscow:

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