Moscow, Russian Federation — Mobile TeleSystems OJSC (“MTS” — NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that on September 16, 2014, Vladimir Evtushenkov, Chairman of the Board of Directors of Sistema JSFC (“Sistema”) (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS and the parent company of MTS with effective ownership stake in MTS of 53.46 per cent, was charged as a part of a criminal investigation into legalization of shares of BashTEK group. According to the statement of Sistema, Sistema's management believes that the acquisition of BashTEK group was legal and transparent. Sistema is fully cooperating with the investigation and intends to use all legal means to defend its position.

The investigation doesn't interfere with the operational activities of MTS.

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For further information, please contact in Moscow:

Joshua B. Tulgan
Director, Corporate Finance & Investor Relations
Mobile TeleSystems OJSC
Tel: +7 495 223 2025
E-mail: ir@mts.ru