Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces the decisions reached at the Board of Directors (BoD) meeting held on April 15, 2010.

At the meeting, MTS’ Board of Directors set the date for the annual general meeting of shareholders (AGM) for Thursday, June 24, 2010. The record date for the Company’s share- and ADR-holders entitled to participate in the AGM has been set for Friday, May 7, 2010. Should the Board recommend paying dividends at its next meeting at the end of May, the record date will also apply for the Company’s share- and ADR-holders entitled to receive dividends for the year 2009.

Issues entered into the AGM agenda by the BoD include:

- Election of BoD members;

- Approval of the Russian-language 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 2009 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 regulations governing MTS’ general shareholder meetings.