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Mobile TeleSystems

June 2, 2005

MTS increases ownership in its subsidiary in the Far East of Russia to 100%

Moscow, Russian Federation — June 2, 2005 — Mobile TeleSystems OJSC (“MTS” — NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces that it has acquired an additional 24% of Gorizont RT, a GSM mobile phone operator in the Republic of Sakha (Yakutia) in the Far East of Russia.

In line with its strategy of consolidating the Company’s ownership in the subsidiaries, MTS has acquired the remaining 24% stake in Gorizont RT for $13.47 million. In November 2004 MTS acquired a 76% controlling stake in the company after winning a government privatization tender. As a result of today’s transaction, MTS’ ownership in Gorizont RT increases to 100%.

Gorizont RT is the sole mobile services provider in the Republic of Sakha (Yakutia), a region in the Russian Far East with a population of 949.3 thousand. The company’s subscriber base reached 130.3 thousand subscribers at the end of May 2005 with a mobile penetration in the region of approximately 14%.

For further information contact:

Mobile TeleSystems, Moscow
Andrey Braginski, Investor Relations
tel: +7 (095) 911-65-53
e-mail: ir@mts.ru

 

 

 

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