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Mobile TeleSystems

December 8, 2000

Mobile TeleSystems cancels the dealership agreement with MCC-Start

Moscow, Russian Federation — 8th December 2000 — Mobile TeleSystems OJSC (NYSE: MBT), Russia’s largest GSM 900/1800 mobile operator, today gave an official notice to the commercial representative MCC-Start CSJC, operating under the trade mark Mobile Center, about the cancellation of the contract between the two companies due to the breach of the contract by MCC-Start.

MTS management does not expect this action to have any effect on the Company’s sales volume, since Mobile Center’s average share comprises less than 1,5% in MTS monthly gross sales.

For further information contact:

MTS
Press Secretary
Eva Prokofyeva
tel: +7 (095) 104-49-38
e-mail: eva@mts.ru

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statement to conform them to actual results. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically, the Company’s most recent Form F-1. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors,” that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures; rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, risks associated with operating in Russia, volatility of stock price, financial risk management, and future growth subject to risks.

Mobile TeleSystems OJSC (NYSE: MBT) is Russia’s leading GSM 900/1800 mobile cellular operator. MTS has GSM 900/1800 licenses to provide mobile cellular telephony services in 34 regions of the Russian Federation, covering 45% of the country’s population. It has commenced operations in 21 regions covering more than 41 million people. Information about MTS’s activities and services can be found on our website at www.mtsgsm.com

 

 

 

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