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Eastern European Markets
NEWS RELEASE
May, 18th, 2007

Nokia Siemens Network to build Moscow region’s first 3G network for MTS

Espoo, Finland/Moscow, Russian Federation - May 18, 2007
Mobile Telesystems OJSC (NYSE: MBT), the largest mobile phone operator in Russia and the CIS, and Nokia Siemens Networks announced today their cooperation in building a turnkey 3G network in the Moscow region.

The announced collaboration covers the delivery of a 3G WCDMA radio network; a hardware and software package for data transfer; a multi-technology, multi-vendor network management system; plus turnkey implementation and technical services for network operation byNokia Siemens Networks.

MTS is already using a Nokia Siemens Networks core network in Moscow, and therefore the company was a natural choice to be the supplier for the 3G radio network.

MTS plans to construct an integrated 2G/3G network in Moscow, where 3G subscribers will continue to be able to use the value-added services that are currently available within the 2/2.5G network. Leveraging the 3G technology, including HSDPA (High-Speed Downlink Packet Access) which provides fast data access, MTS will launch advanced services for the Russian market, such as video telephony, videoconferencing and mobile TV.

The deployment of the Moscow 3G network will start this summer. The multi-standard Nokia Siemens Networks site concept makes it possible for MTS to use existing GSM sites to deploy WCDMA/HSPA. In addition, all new sites will be prepared for the installation of 3G equipment from the very beginning.

“We are happy to continue our collaboration with Nokia Siemens Networks, one of the 3G market leaders. The company won the new contest by offering the optimal solution for an integrated 2G/3G network. We are confident that our choice will secure our previous investments and improve the overall quality of the MTS network in the Moscow region,” says Sergey Aslanyan, MTS OJSC Vice-President for Network andInformation Technologies.

“Nokia Siemens Networks is happy to serve MTS as its partner to build the first 3G network in the Moscow region. Our end-to-end 3G solutions will enable MTS to concentrate on value-added services for its customers and open up new ways of further creating value for its subscriber base,” added Volker Ziegler, Head of the North-East Region for Nokia Siemens Networks.

About Nokia Siemens Networks
Nokia Siemens Networks is a leading global enabler of communications services. The company provides a complete, well-balanced product portfolio of mobile and fixed network infrastructure solutions and
addresses the growing demand for services with 20,000 service professionals worldwide. The combined pro-forma net sales of ¤17.1 billion Euro in fiscal year 2006 make Nokia Siemens Networks one of the
largest telecommunications infrastructure companies. Nokia Siemens Networks has operations in some 150 countries and is headquartered in Espoo, Finland. It combines Nokia’s Networks Business Group and the carrier related businesses of Siemens Communications.

About Mobile Telesystems
Mobile TeleSystems OJSC (MTS) is the largest mobile phone operator in Russia and the CIS. Togetherwith its subsidiaries, the Company services over 74.16 million subscribers. The regions of Russia, as well as Belarus, Turkmenistan, Ukraine, and Uzbekistan, in which MTS and its associates and subsidiaries are licensed to provide GSM services, have a total population of more than 230 million. Since June 2000, MTS’ Level 3 ADRs have been listed on the New York Stock Exchange (ticker symbol MBT).

***

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. You can identify forward looking statements by terms such as «expect,» «believe,» «anticipate,» «estimate,» «intend,» «will,» «could,» «may» or «might,» and the negative of such terms or other similar expressions. 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 statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. We refer you of the documents MTS files from time to time with the U. S. Securities and Exchange Commission, specifically the Company’s most recent Form 20-F. 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.

Further information
Media Enquiries
MTS OJSC Public Relations Department
Phone: (495) 912-32-20
E-mail: pr@mts.ru
Nokia Siemens Networks
Anna Lehtiranta
Communications, North East Region
Phone: +358 40 5045243
e-mail: anna.lehtiranta@nsn.com
Olga Galashevskaya
Communication, Russia
Phone: +7 (495) 737-13-94
E-mail: olga.galashevskaya@nsn.com

www.nokiasiemensnetworks.com

www.mts.ru


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