OREANDA-NEWS. Open Joint Stock Company "MegaFon" ("MegaFon", or the "Company") (LSE: MFON), a leading Russian universal telecommunications operator, announces its unaudited consolidated financial results1 for the second quarter ended 30 June 2014.

Key highlights of the Second Quarter 20142

Consolidated revenue grew by 6.1% y-o-y3 to RUB 76,666 million

OIBDA remained stable and totaled RUB 34,298 million

OIBDA margin decreased by 2.8 p. p. y-o-y to 44.7%

Net Profit of RUB 13,886 million was up 2.2% y-o-y

CAPEX amounted to RUB 13,396 million

Free Cash Flow decreased by 37.8% y-o-y to RUB 14,043 million

Net Debt as of 30 June 2014 was RUB 118,810 million

The number of mobile subscribers as of 30 June 2014 was 70.2 million4, an increase of 6.4% y-o-y

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Operational and Financial Data Pack

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MegaFon will be hosting an analyst and investors conference call today with a simultaneous audiocast to discuss its Q2 2014 performance.

Time: 10.00 (New York time), 15.00 (London time), 18.00 (Moscow time)

Dial-in details: Russia - Local Moscow +8 499 272 4337

Russia Toll Free +8 10 800 2490 2044

Standard International Access +44 (0) 20 3003 2666

UK Toll Free 0 808 109 0700

USA Toll Free +1 866 966 5335

Access Code: 6625595

Password: MegaFon

Replay facilities will be available for 7 days:

Russia - Local Moscow +8 499 270 6352

Russia Toll Free +8 10 800 2483 2044

Standard International Access +44 (0) 20 8196 1998

UK Local 020 8196 1480

UK Toll Free 0800 633 8453

USA Toll Free +1 866 583 1035

Access Pin 6625595