Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces the appointment of Mr. Alexey Kornya as Vice President and Chief Financial Officer (CFO).

Mr. Kornya has served as acting Vice President and CFO of MTS since July 2008. Prior to assuming these duties, Mr. Kornya served as the Chief Financial Controller of MTS.

“Alexey possesses a valuable perspective on MTS and its business processes, having risen from the macro-regions and recently assumed leadership of the Finance block. His familiarity with our business and experience managing its financial operations has been invaluable in helping MTS manage the volatile economic environment and realize our 3i strategy,” commented Mr. Mikhail Shamolin, President and CEO of MTS. “We congratulate Mr. Kornya on his achievement and welcome his appointment.”