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Mobile TeleSystems

May 31, 2007

Financial results for the first quarter ended March 31, 2007

Moscow, Russian Federation — May 31, 2007 — Mobile Telesystems OJSC («MTS» — NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces its first quarter 20071 financial and operating results.

1 Based on unaudited consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America («US GAAP»).

 
 
 

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