OREANDA-NEWS. April 25, 2011. Mobile TeleSystems OJSC (“MTS” or “the Company” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces the registration of the Company’s share issuance report by the Federal Financial Markets Service of Russia (“FFMS”).

As result of the issuance of additional MTS shares for the purposes of conversion of Comstar-UTS shares, the Company’s charter capital increased by 73,087,424 ordinary shares to a total of 2,066,413,562 ordinary shares1.

The state registration number of the newly issued MTS shares is 1-01-04715-A-002D. The additional share issue will trade on the Moscow Interbank Currency Exchange (“MICEX”) under another ticker symbol for a period of 3-months from the date of the registration of the share issuance report as stipulated by Russian law after which it will merge with the Company’s main issue. The main share issue trades on MICEX under ticker symbol MTSI and has a state registration number 1-01-04715-A.

Following the registration of the share issuance report by FFMS, MTS will file the necessary documents with MICEX to allow additional shares to be listed on the exchange. Subject to the satisfaction of all listing conditions, it is expected that trading of additional shares on MICEX will commence in May 2011.