Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces the decisions reached at the Board of Directors (BoD) meeting held on April 15, 2009.

At the meeting, MTS’ Board of Directors set the date for the annual general meeting of shareholders (AGM) for June 25, 2009. The record date for the Company’s share- and ADR-holders entitled to participate in the AGM has been set for May 8, 2009. Should the Board decide on the dividend payment at its next meeting at the end of May, the May 8, 2009, record date will also apply for the Company’s share- and ADR-holders entitled to receive dividends for the year 2008.

Issues entered into the AGM agenda by the BoD include:

- Election of BoD members;

- Approval of the Russian version of the Company’s Annual Report;

- Approval of the Company’s Russian Accounting Standards annual financial statements;

- Approval of the distribution of profits and losses of the Company based on the full year 2008 results (including payment of dividends should the recommendation be made at the BoD meeting at the end of May);

- Election of  the members of the Company’s Auditing Commission;

- Approval of the Company’s auditor;

- Approval of the MTS Charter as amended and restated;

- Approval of the Rules and Regulations of the Company’s Board of Directors as amended and restated;

- Approval of the Rules and Regulations of the Company’s Management Board as amended and restated; 

- Approval of the Rules and Regulations of Remunerations and Compensations Payable to MTS OJSC Board of Directors as amended and restated.

The Board also elected Mr. Valery Shorzhin, IT Director of the MTS Group, and Mr. Andrey Ushatskiy, Chief Technology Officer and Vice President of Technology, to the Company’s Executive Board.