Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has increased its ownership in SWEET-COM LLC to 100%.

The remaining 25.1% stake was acquired for $8.5 million from private parties. The original 74.9% stake was acquired in February 2005. The company holds licenses for provision of telematic communications and data transmission services in the Moscow region and the Russian Federation including those based on the PmP (point-to-multipoint) technology.