MTS completes the accession of COMSTAR-UTS

Telecommunications operator OAO Mobile TeleSystems (MTS) announced the termination of April 1, 2011 of COMSTAR - United TeleSystems (Comstar) as a separate legal entity in connection with its accession to the MTS. Record of the termination of Comstar "included in the Uniform State Register of Legal Entities. In accordance with the terms of accession, the ordinary shares of Comstar converted into ordinary shares in MTS conversion ratios constituting 0.825 common shares of MTS per share Comstar. In total, the conversion of MTS '- as Treasury and the additional issue in the State Register under number 1-01-04715-A-002D - was converted 98,853,996 ordinary shares of Comstar. As a result of converting the authorized capital of MTS OJSC increased by 73,087,006 ordinary shares to 2,066,413,144 ordinary shares.