OREANDA-NEWS. Mobile TeleSystems OJSC ("MTS" — NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces its decision to write off costs associated with the acquisition of a 51% stake in Tarino Limited, indirect owner of BITEL LLP (Bitel), a Kyrgyz GSM mobile phone operator, at the end of 2005 in the amount of $150 million.

However, MTS has brought damage claims in the High Court of Justice in the Isle of Man seeking damages for the misappropriation and forced seizure of Bitel and its assets against a number of companies, including Bitel LLC, Fellowes International Holdings Limited, Altimo Holdings and Investments Limited, Altimo LLC, CJSC Reservspetzmet, Lovianco Trading Co Limited, Yuridicheskoe Bureau Pravo, Energia Light LLC, KI-Credit Prive SA JSC, AK Investment Limited CJSC, Sky Mobile LLC.