Moscow, Russian Federation — Mobile TeleSystems OJSC (“MTS” — NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has signed an agreement with Sberbank of Russia to open a non-revolving line of credit for a total amount of RUB 50 billion and has amended terms of an existing credit agreement in the amount of RUB 20 billion.

MTS opened a non-revolving line of credit with Sberbank of Russia in the amount of RUB 50 billion with a maturity in September 2021. The funds will be used for general corporate needs. The Company has also amended the terms of the credit agreement originally signed with Sberbank of Russia in April 2014 by extending the final maturity of the facility from July 2015 to September 2017.

Alexey Kornya, Vice President and Chief Financial Officer of MTS, commented, “We are pleased to announce the signing of the new agreements with our long-standing partner Sberbank. The size and the terms of the agreements concluded in the challenging market environment showcase MTS’s sound financial position and the strength of our relationship with Sberbank.”

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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