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Mobile TeleSystems

March 4, 2011

MTS appoints new Chief Executive Officer

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” or “the Company” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, today announced that in accordance with the Company’s Charter1 Mr. Andrei Dubovskov has been appointed by the MTS Board of Directors (“BoD” or “the Board”) as President and Chief Executive Officer (“CEO”) of Mobile TeleSystems OJSC. Mr. Dubovskov replaces Mr. Mikhail Shamolin, who has served as President and CEO of MTS since May 2008. Mr. Shamolin’s candidacy is expected to be nominated to the position of President and CEO of Sistema for approval at tomorrow’s Board of Directors meeting of Sistema, the largest diversified public financial corporation in Russia and the CIS and the majority shareholder of MTS.

Under Mr. Shamolin's leadership, MTS has transformed itself from a mobile-only access provider to a fully integrated telecommunications company. In the past three years, MTS has enhanced its leadership position through the development of its fixed-line business, the expansion of its proprietary retail channels, the launch of Russia's first content portal and rapid development of its network infrastructure. Despite the profound macroeconomic volatility, Mr. Shamolin's tenure witnessed sustained growth in the core business and yielded substantial value and returns to shareholders while maintaining the Company’s leadership positions.

Mr. Dubovskov joined MTS in 2004 as head of the Company’s operations in Nizhny Novgorod. In 2006, he went on to become head of Macro-region Ural. In the beginning of 2008, Mr. Dubovskov became Head of Business Unit MTS Ukraine, the Company’s second largest business unit in terms of revenues, where he was successful in drastically improving its operating efficiencies and strengthening its market position.

Mr. Ron Sommer, Chairman of the Board of Directors of MTS, commented: “We are grateful to Mikhail for the tremendous amount of work he put in and the results that were achieved under his leadership. He was instrumental in making MTS into an integrated player through the implementation of the 3i Strategy. The Board has full confidence that Andrei will continue Mikhail’s undertakings in executing on the strategic priorities of the Company as it looks to extract further growth from the Russia and CIS markets of operation. Andrei’s wealth of experience in the telecommunications industry and at MTS itself provides him with the necessary skill set to take MTS to even greater heights. On behalf of the Board, I welcome Andrei to his new position.”

Mr. Dubovskov commented: “The Board of Directors has afforded me an extraordinary opportunity, and I am grateful for the opportunity to represent MTS before its shareholders, employees and customers. I am committed to MTS' further development as the region's pre-eminent telecommunications provider and further position MTS for future growth.”

Following Mr. Dubovskov’s appointment, Mr. Vasyl Latsanych, the Chief Marketing Director of Business Unit MTS Ukraine, is the acting Head of Business Unit MTS Ukraine.

Biography

Andrei Dubovskov was born in 1966. He has been the Head of Business Unit MTS Ukraine since January 2008. He joined MTS Ukraine in November 2007 as First Deputy of General Director. From 2006 to 2007, he was the Head of Macro-region Ural. From 2004 to 2006, he was head of MTS branch in Nizhny Novgorod.

From 2002 to 2004, Mr. Dubovskov headed Tele2’s operations in Nizhny Novgorod. From 1993 onwards, he occupied a number of management positions in such companies as Millicom International Cellular S.A., Millicom International Cellular B.V., Regionalnaya Sotovaya Svyaz LLC and CJSC 800, as well as other companies in Moscow, Alma-Ata, Nizhny Novgorod, Ekaterinburg, Perm and Kiev.

1The Company’s charter is available at https://www.mtsgsm.com/information/corporate_governance/charter

 

 

 

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