Moscow, Russian Federation – Mobile TeleSystems OJSC (the “Company” or “MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, corrects the statement made in the press release titled “MTS Announces the Results of the Annual General Meeting of Shareholders” issued on June 24, 2010. The following statement was incorrect in the release: “Independent directors Mr. Charles Dunstone, Mr. Stanley Miller and Mr. Paul Ostling were elected to the Company’s Audit Committee with Mr. Ostling elected as the Chairman of the Audit Committee.” The correct statement should read: “Independent directors Mr. Stanley Miller and Mr. Paul Ostling were elected to the Company’s Audit Committee with Mr. Ostling elected as the Chairman of the Audit Committee.”