MOSCOW, RUSSIAN FEDERATION – NOVEMBER 22, 2006 – MOBILE TELESYSTEMS OJSC (“MTS” - NYSE: MBT), THE LARGEST MOBILE PHONE OPERATOR IN RUSSIA AND THE CIS, ANNOUNCES THAT IN LIGHT OF NUMEROUS REQUESTS FROM THE MEDIA REGARDING THE PRESS RELEASE ISSUED ON BEHALF OF BITEL, MTS DEEMS IT NECESSARY TO MAKE THE FOLLOWING STATEMENT:
1. The information distributed on behalf of Bitel is part of an unprincipled propaganda campaign carried out with the aim of pressuring the courts to render a decision on the title of ownership of Bitel.
2. The dissemination of this information by Bitel coincides with developments in court proceedings on the Island of Man that MTS views as favorable to the Company.
Also, on November 8, 2006, MTS sent official letters to the management of Vimpelcom and Telenor that stated its position on Bitel and warned of the possibility of criminal proceedings in the event that Vimpelcom acquired the Kyrgyz GSM operator Sky Mobile, which is owned by Altimo and received Bitel’s assets after they were transferred by Bitel’s unlawful management.
We appreciated the fact that Vimpelcom’s Board of Directors did not make the decision to acquire Sky Mobile.
3. MTS in the past did not comment on the information issued by the current management of Bitel as it was unlawfully appointed and will refrain from doing so in the future.
4. If the statements issued by the current management of Bitel are received and taken into consideration by any court, MTS will be more than happy to provide its fullest cooperation.
5. As always MTS will inform the public of all the significant changes surrounding Bitel.
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