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Mobile TeleSystems

March 20, 2001

Mobile TeleSystems (MTS) reduces cost for outgoing calls

Up to 50% savings on outgoing calls within MTS network
Moscow, Russian Federation — 20th March 2001 — Mobile TeleSystems OJSC, Russia’s leading mobile operator, announces up to 50% reduction per minute for outgoing calls to mobile phones within the MTS network (except Blagoveshchinsk and Omsk) in the following Moscow tariffs: “Youth”, “Saver” (with the federal number pre-coded 902), “Favourite” and “Business” (with direct Moscow number). The reduction is to start on 21st March, 2001.

Incoming calls between MTS subscribers have been free for sometime now. Despite the fact that there have been some discounts for outgoing calls within the network in the past, the situation will change dramatically as of 21st March 2001. From then on discounts for outgoing calls within MTS network will come up to over 50% in some tariffs.

“As usual MTS’ new marketing initiative is aimed at all our subscribers. Over 1.3 million will feel real savings on mobile services since in Moscow alone every eighth inhabitant subscribers to MTS network, and a significant number of calls is made within the network”, — says Igor Timofeev, Mobile TeleSystems” marketing director. “For our subscribers it is not just another point in favour of MTS. It becomes more and more imporant which network your friends, relatives and colleagues are subscribed to”.

“Youth” tariff plan: a call made by an MTS subscriber to a different Moscow telephone network during the day costs $0.29 per minute, whilst a call to another MTS subscriber costs only $0.14 — a saving of 52%. During cheap morning (6am to 8am) and cheap evening (9pm to midnight) time there is a 29% discount for outgoing calls within MTS network.

“Favourite” tariff plan: a call made by an MTS subscriber to a different telephone network in Moscow during the day costs $0.34 per minute, whilst a call to another MTS subscriber costs only $0.17 — a saving of 50%. During cheap morning (6am to 8am) and cheap evening (9pm to midnight) night there is a 27% discount for outgoing calls within MTS network.

“Saver” tariff plan: Any time, day or night, a call made from MTS network within the network costs $0.12 per minute, whilst a call made to another Moscow network costs $0.18 — a saving of 18%.

“Business” tariff plan: any time, day or night, a call made from MTS network within the network costs $0.16 per minute, whilst a call made to another mobile or fixed line network in Moscow costs $0.25 — a saving of 36%.

MTS’ new initiative is unique in a sense that “Mobile TeleSystems” network is not constrained to one city, but covers a significant part of Russia. With this in mind, MTS’ new initiative will be especially felt by those subscribers who travel a lot round the country. MTS subscribers, travelling to the Moscow, Vladimir, Ryazan, Tula, Kaluga and Pskov regions, will be able to make exactly the same savings on outgoing calls to mobile phones within MTS network (except for Blagoveshchinsk and Omsk).

MTS is currently offering the best tariff plans on the Moscow GSM market.

Tariffs for outgoing mobile calls:

Tariff plans
Time of call Youth Saver Favourite Business
8am-9pm 0,14 0,12 0,17 0,16
9am-midnight6am-8am1 0,10 0,12 0,11 0,16
Midnight-6am 0,04 0,12 0,06 0,16

The same tariff applies on weekends and public holidays between 6am and midnight. All the above prices exclude VAT and sales tax.

For further information contact:

Press Secretary
Eva Prokofyeva
tel: +7095 104 4938

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statement to conform them to actual results. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically, the Company’s most recent Form F-1. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors,” that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures; rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, risks associated with operating in Russia, volatility of stock price, financial risk management, and future growth subject to risks.

Mobile TeleSystems OJSC (NYSE: MBT) is Russia’s leading GSM 900/1800 mobile cellular operator. MTS has GSM 900/1800 licenses to provide mobile cellular telephony services in 34 regions of the Russian Federation, covering 45% of the country’s population. It has commenced operations in 21 regions covering more than 41 million people. Information about MTS’s activities and services can be found on MTS website at




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