OREANDA-NEWS. On 17 June 2008 Mobile TeleSystems OJSC, the largest mobile phone operator in Russia and the CIS, announced that the placement of its debut rouble bond will start on June 24, 2008.

MTS plans to place a 10 billion rouble bond with maturity in 2018 and a two-year put option. The coupons are to be paid semiannually.

Lead Arrangers of the bond are Gazprombank, Raiffeisenbank and Troika Dialog. The bond will be listed in the “V” quotation list at the Moscow Interbank Currency Exchange (MICEX).

Funds raised through the placement will be used for general corporate needs, including investments into further company growth and business development.

Ad Hoc Notice

http://www.mtsgsm.com/news/ir/2008-06-11-26835/

2007 annual report filing on form 20-F

Moscow, Russian Federation

Mobile TeleSystems has filed its annual report on form 20-F for the fiscal year 2007 with the United States Securities and Exchange Commission.

The document can also be found at http://www.mtsgsm.com/information/annual_reports/ of the Investor Relations section. Hard copies of the document with the Company’s complete audited financial statements will be available free of charge to shareholders upon request.