OREANDA-NEWS. September 6, 2007.  “COMSTAR – United TeleSystems” OJSC (“Comstar” or “the Group”) (LSE: CMST) today announced its unaudited consolidated US GAAP financial results for the three and six months ended June 30, 2007.

SECOND QUARTER HIGHLIGHTS
Revenues up 32% year on year to US$ 379.2 million
OIBDA[1] up 51% year on year to US$ 173.2 million and OIBDA margin of 46%
Operating profit up 54% year on year to US$ 135.7 million and operating margin of 36%
Net income before non-cash impact of revaluation of put and call option1 of US$ 39.2 million
Cash flow from operations up 41% year on year to US$ 112.4 million
42% year on year growth in Moscow broadband Internet subscriber base to 426,400 customers
52% of MGTS residential subscribers on unlimited tariff plan as at end of period.