OREANDA-NEWS. Mobile TeleSystems OJSC (“MTS” or the “Company” - NYSE: MBT), the leading telecommunications operator in Russia and the CIS, has been informed that in addition to the previously disclosed investigation by the United States Securities and Exchange Commission related to MTS's former operations in Uzbekistan, the United States Department of Justice also is conducting a parallel investigation. The investigations are concerned with MTS and not merely with the activities of unaffiliated parties. As previously disclosed, the Company has received a request for documents from the SEC and intends to cooperate with these investigations.

Mobile TeleSystems OJSC ("MTS") is the leading telecommunications group in Russia and the CIS, offering mobile and fixed voice, broadband, pay TV as well as content and entertainment services in one of the world's fastest growing regions. Including its subsidiaries, the Group services over 100 million mobile subscribers. The Group has been awarded GSM licenses in Russia, Ukraine, Turkmenistan, Armenia and Belarus, a region that boasts a total population of more than 200 million. Since June 2000, MTS' Level 3 ADRs have been listed on the New York Stock Exchange (ticker symbol MBT).