OREANDA-NEWS. July 17, 2007.  "COMSTAR - United TeleSystems" JSC ("Comstar") (LSE: CMST), the leading combined telecommunications operator in Russia and the CIS, today announced the establishment of a new executive body, the Management Board of Comstar UTS.

The Management Board comprises the following members:
• Sergey Pridantsev - President and Chief Executive Officer
• Аlexey Goltsov - General Director of JSC MGTS
• Alexey Goncharuk - Vice President & Head of Operations
• Sergey Nazarov - Vice President for Marketing
• Dmitry Karmanov - Human Resources & Personnel Director
• Victor Koresh - Vice President for the Regional and International Development of the Group's Operations
• Nikolay Tokarev - Vice President for Finance and Economics,

Comstar UTS Sergey Pridantsev was appointed as Chairman of the Management Board, Аlexey Goltsov was appointed as Deputy Chairman of the Management Board.

In addition, the management structure of the Group is being augmented by the creation of sub-committees at the Management Board level - the Budget and Investment Committee; the Tariffs Committee; the Technical Committee; and the Purchasing Committee.

Sergey Pridantsev, President and CEO of Comstar UTS, commented: "The creation of the Management Board and its committees reflects our commitment to enhancing our corporate governance by reinforcing and simplifying our operational responsibilities and reporting lines. This structure will accelerate decision-making and facilitate greater focus on strategic planning and execution. It will also enable us to implement group-wide policies, to accelerate the integration of new businesses, to identify and exploit synergies, and to streamline the business as a whole".

Comstar UTS is a leading provider of integrated communications services in Moscow and the Moscow region in terms of revenues and subscribers and also offers communications services in other regions of Russia and the Commonwealth of Independent States.  Comstar UTS had 3.6 million subscribers in its traditional segment of the business, 477.3 thousand subscribers in its alternative segment in Moscow and 92.2 thousand subscriber in its alternative segment in the regions at September 30, 2006. Comstar UTS offers voice, data and Internet, pay-TV and various value-added services to corporate, operator and residential subscribers, using its alternative and traditional fixed-line networks. Comstar UTS had consolidated operating revenues of US$ 828.2 million for the nine months of 2006 and Comstar UTS' consolidated assets totalled US$ 2.8 billion at September 30, 2006. Comstar UTS ordinary shares are listed on the Moscow Stock Exchange and on the London Stock Exchange under the symbol "CMST".