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Mobile TeleSystems

September 30, 2002

Mobile TeleSystems OJSC acquires a controlling stake in Dontelecom, a mobile operator in the Rostov Region of Russia

Moscow, Russia — 30 September 2002 — Mobile TeleSystems OJSC (NYSE: MBT), Russia's largest mobile operator, announces that the Company has completed the acquisitions of a 66.66% stake in Dontelecom, a GSM mobile operator in the Rostov region (Southern federal district) of Russia.

MTS purchased Dontelecom’s shares from Lavalier Trading Limited (33.33%) and Russian Telecommunication Development Corporation (33.33%). The total value of the deal was $15.0 million. Dontelecom’s revenues in 2001 were $12.1 million, under Russian accounting standards, and average revenue per user (ARPU) was $41. The company’s net debt in the beginning of 2002 was approximately $5.0 million. Dontelecom has a licence to provide GSM 900/1800 services in the Rostov region which has a population of 4.4 million people. MTS hasn’t had a GSM licence for this region before. Today, Dontelecom serves 39,000 customers and has a market share of approximately 14%. Commenting on the acquisition, MTS’ President Michael Smirnov said: “This deal will serve to strengthen MTS’ operations in the southern part of Russia and is in line with MTS’ strategy to buy GSM operators to extend the Company’s regional footprint” In April, MTS purchased a controlling stake in CJSC “Kuban GSM” — the biggest operator in southern Russia operating in the Krasnodar region and the Republic of Adygea bordering the Rostov region. The subscriber base of “Kuban GSM” today is more than 685,000 people.

For further information contact:

Mobile TeleSystems
Investor Relations
Andrey Braginski
tel: +7 (095) 766-01-03
e-mail: ir@mts.ru

Public Relations
Kirill Maslentsin
tel.: +7 (095) 737-45-30
e-mail: mkk@mts.ru

Press Secretary
Eva Prokofieva
tel.: +7095 737 4530
e-mail: eva@mts.ru

Gavin Andeerson & Company Yolande Stratford
tel: +44 (0) 20 2554-1428

Mobile TeleSystems OJSC (or “MTS”) — is Russia’s largest cellular operator serving over 5.0 million subscribers. MTS in combination with its subsidiaries is licensed to provide GSM 900/1800 services in 52 regions of Russia with a total population of 103.5 million people or 71% of the nation’s population. Today, MTS’ network operates in 45 regions of Central (including Moscow and Moscow region), Northwestern (including St Petersburg and Leningrad region), Southern, Mid-Volga, Ural, Siberia and Far-Eastern federal districts and the Republic of Belarus. Since June 2000, MTS’ shares have been listed on the New York Stock Exchange with the ticker symbol MBT. Additional information about MTS can be found on MTS’ website at www.mtsgsm.com

Certain statements in this press release that are neither reported financial results nor other historical information are forward-looking statements, including but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and the Company’s plans and objectives to differ materially from those expressed or implied in the forward-looking statements. Certain factors that may cause such differences are discussed in our Form 20-F and Form 6-K reports filed with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update publicly or revise any of these forward-looking statements, whether to reflect new information or future events or circumstances or otherwise.

 

 

 

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