MTS proposes to acquire to 9% of actions of joint stock company �Comstar- Oates�

Joint stock company �mobile teles-system� reported the fact that the company granted to joint stock company �Comstar- Oates� the packet of documents at the voluntary proposal about acquisition to 37 614 678 usual actions Comstar- Oates, not belonging MTS, on the price of 220,0 rubles per share.

The number of acquired actions composes 9,0% of regulation capital Comstar- Oates and the actions, which are global depository receipts, are included. Voluntary proposal is accomplished after declaration about the approval and recommendation about the connection joint stock company �Comstar- Oates� to joint stock company �of MTS� by boards of directors of joint stock company �MTS� and joint stock company �Comstar- Oates� dated June 25, 2010. The packet of documents at the voluntary proposal about the acquisition of actions was directed to the Federal Service for the financial markets ([FSFR]) and at present elapsed the provided by legislation period of the examination of voluntary proposal in [FSFR]. At the present moment joint stock company �of MTS� he is majority shareholder joint stock company �Comstar- Oates� with 61,97% of actions (64,03% with exception of treasurer actions) and includes the financial results of joint stock company �Comstar- Oates� in its consolidated account.

As it was declared on June 25, 2010, the implied price for one global depository receipt at the voluntary proposal was equal to $7,161 and are 13,1% reward to the weighted mean by the volume of tradings price of global depository receipt joint stock company �Comstar- Oates� on the Stock Exchange in three months to the moment of closing the tradings on June 22, 2010.

The board of directors of joint stock company �Comstar- Oates� will examine the packet of the documents by the voluntary proposal and of signs the solution about the recommendation of voluntary proposal to the shareholders of joint stock company �Comstar- Oates�. Joint stock company �Comstar- Oates� will subsequently direct voluntary proposal, together with the recommendations of board of directors, to the shareholders of joint stock company �Comstar- Oates�, and to the holders of global depository receipts - by means of the depositor, the company Of deutsche Of bank. In the case of exceeding quantities of claim fors the acquisition of the actions, obtained from the shareholders of joint stock company �Comstar- Oates�, the action will be acquired in the quantity, proportional to the obtained claims. The period of the adoption of voluntary proposal is 70 days from the date of obtaining the voluntary proposal of joint stock company �Comstar- Oates� until September 21, 2010 inclusively.

Joint stock company �of MTS� manages the sufficiency of free cash resources and their equivalents, and also the unused credit lines for the purchase of actions in the process of voluntary proposal, and also was obtained the bank guarantee Of [sberbanka] of Russia in accordance with the legislative requirements with respect to voluntary proposal.