Moscow, Russia – June 22, 2009 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the largest integrated telecommunications provider in Moscow and 69 Russian cities, today announced that Moody's Investors Service has confirmed its "Ba3" corporate family ratings with a stable outlook for Comstar and its 55.73% owned subsidiary, Moscow City Telephone Network (“MGTS”).

Sergey Pridantsev, President and Chief Executive Officer of Comstar UTS, commented: “Moody’s ratings with a stable outlook once again prove that, even in the current challenging economic environment, Comstar manages to maintain its strong market position and demonstrate solid financial results. The ratings attest that we have been following the right strategy and have a stable platform for continued growth.”

Moody's Investors Service published its previous ratings assigned to Comstar and MGTS in June 2008.