OREANDA-NEWS. "COMSTAR - United TeleSystems" ("Comstar UTS") (LSE: CMST), the leading provider of integrated telecommunication services in Russia and the CIS, today announced that it has transferred 6,269,112 shares in the form of GDRs (1.5 % of total issued shares) to Mr. Vladimir Lagutin, member of the Board of Directors of Comstar UTS.

Market value of this award as of the grant date was approximately US$ 44.4 million.

The shares were granted on November 15, 2006 in accordance with the decision of the Board of Directors under the approved stock option program.