The Annual Review describes the operational, financial and strategic achievements of MTS during 2007 and provides an overview of the Company, its management team and the Board of Directors. While the Review is being published online only, the advanced functionality of the website allows for printing of the complete document or individual sections and pages.

The Review is available today at: https://annualreview2007.mtsgsm.com/.

Mikhail Shamolin, President & Chief Executive Officer of MTS, noted: “As we have been at the forefront of delivering new and exciting products to the largest customer base across Russia and the CIS, we are also leading the way in financial communications by moving to a completely online Annual Review. By providing greater interactivity and easier access to key financial and operational data, we are certain to set the pace as Russia's most transparent company and give all of our stakeholders a greater sense of MTS and our brand values.”