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Mobile TeleSystems

December 24, 2004

MTS acquires a majority stake in a mobile phone operator in Southern Russia

Moscow, Russian Federation — December 24, 2004 — Mobile TeleSystems OJSC (“MTS” — NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces the acquisition of a majority stake in Telesot-Alania, a GSM mobile phone operator in the Republic of North Ossetia in the Southern part of Russia.

In line with the strategy of seeking attractive acquisition targets in the regions where the Company has not yet launched operations, MTS has acquired a 52.5% ownership in Telesot-Alania from Southern Telecommunications Company OJSC (UTK) for $6.2 million.

Telesot-Alania is a GSM 900/1800 mobile phone operator in the Republic of North Ossetia (total population 710 thousand), providing its services to approximately 54 thousand subscribers. Mobile penetration in the region is at around 29%, substantially lower than Russia’s average penetration of 45.2%. MTS has a GSM 1800 license but is not yet operational in the region. This acquisition increases the number of regions where MTS and its subsidiaries operate to 75.

According to Russian Accounting Standard (RAS) numbers, Telesot-Alania’s revenues for the first nine months of 2004 totaled $5.2 million, operating income $3.0 million1, and net income $2.0 million. The company has insignificant indebtedness. The company’s average monthly revenue per user (ARPU) was $15.5 in the first nine months of 2004.

1

Depreciation and Amortization charges in the first nine months of 2004 were $0.22 million.

 

For further information contact:

Mobile TeleSystems, Moscow
Investor and Public Relations
Andrey Braginski
tel: +7 (095) 911-65-53e-mail: ir@mts.ru

 

 

 

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