MTS Announces Appointment of Vice President for Procurement and Administration

Moscow, Russian Federation - Mobile TeleSystems OJSC ( MTS or the Company - NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces the appointment of Mr. Valery Shorzhin as Vice President for Procurement and Administration, Member of the Executive Board.

Mr. Valery Shorzhin has served as Director for Procurement since 2011. His area of responsibility in now expanded to include administrative issues.

Remarked Andrei Dubovskov, President and Chief Executive Officer of MTS, "Valery has demonstrated outstanding achievements in improving the efficiency of procurement management at MTS. Over the last three years Valery has streamlined the procurement process and introduced globally proven best practices to establish a procurement function, which has been repeatedly recognized as best in the market. Coupled with our cooperation with Vodafone in procurement, MTS has realized savings in the hundreds of millions of rubles by benchmarking and obtaining discounts and favorable terms from vendors. We are confident that in his new role Valery will make further contributions to the Company's growth and profitability."

Biography Valery Shorzhin has served as Director for Procurement Management, Member of the Executive Board at MTS since 2011. He had also served on the Company's Executive Board between 2009 and 2010. From 2008 to 2011, he served as MTS Director of Information Technology. Prior to joining MTS in 2006, Mr. Shorzhin held the positions of Technical Director and Director for IT and Information Management of Farlep-Invest in Ukraine. From 1996 to 2006, he held various information technology management positions at Sovintel, and prior to that, he worked at Tveruniversalbank. He began his career at the Radiophysics Research Institute in 1986.

Valery Shorzhin graduated from the Bauman Moscow State Technical University in 1986

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For further information, please contact in Moscow:

Joshua B. Tulgan

Director, Corporate Finance & Investor Relations

Mobile TeleSystems OJSC

Tel: +7 495 223 2025

E-mail: ir@mts.ru

Learn more about MTS. Visit the official blog of the Investor Relations Department at www.mtsgsm.com/blog/

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Mobile TeleSystems OJSC ("MTS") is the leading telecommunications group in Russia, Eastern Europe and Central Asia, offering mobile and fixed voice, broadband, pay TV as well as content and entertainment services in one of the worlds fastest growing regions. Including its subsidiaries, the Group services over 100 million mobile subscribers in Russia, Ukraine, Uzbekistan, Turkmenistan, Armenia and Belarus, a region that boasts 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). Additional information about the MTS Group can be found at www.mtsgsm.com.

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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 undertake or 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 to 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, the severity and duration of current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of Russian, U.S. and other foreign government programs to restore liquidity and stimulate national and global economies, our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so, strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses, 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, governmental regulation of the telecommunications industries and other risks associated with operating in Russia and the CIS, volatility of stock price, financial risk management and future growth subject to risks.

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LINK:	http://www.mtsgsm.com/news/2014-03-07-51257/...
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