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Mobile TeleSystems

August 2, 2010

S&P revises Outlook from Stable to Positive

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that Standard & Poor's Ratings Services has revised upward its Outlook on the Company from Stable to Positive and affirmed existing bond ratings at BB level.

Please refer to www.standardandpoors.comfor additional information.

 

 

 

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