MTS Wins Prestigious GSMA Global Mobile Award

MOSCOW, February 19, 2010 - Mobile TeleSystems OJSC ("MTS" - NYSE: MBT), the largest
mobile phone operator in Russia and the CIS, announces that it has won the
GSM Association's ("GSMA") 15th Annual Global Mobile Award at the 2010 Mobile
World Congress in Barcelona. MTS won the award in the "Best Billing &
Customer Care Solution" category for its "Your Individual Optimal Tariff
Plan" service. MTS is the first mobile operator from Russia and the CIS to be
recognized with one of the most prestigious awards in the telecommunications
industry.

"Your Individual Optimal Tariff Plan" is a service that allows
customers to choose and compare MTS tariffs by either visiting the relevant
webpage on the Company's website or using their mobiles through IVR[1] or
USSD[2]. MTS launched the service to further educate customers on the various
options available to them using MTS' tariff plans so as to strengthen the tie
between the Company and its subscribers. Since the launch of the service in
March 2009, over three million customers have already used it. According to
the Company's customer surveys, 91% of subscribers who changed their tariff
plans using this service were very satisfied with the new tariff.

"In line with our 3i strategy[3], we are focused on raising
the innovation bar in customer service in Russia and the CIS by delivering
the best offers in the market to our subscribers," commented Mikhail Gerchuk,
Vice President and Chief Commercial Officer of MTS. "Recognition of MTS by
the GSMA in awarding the Company with one of the most prestigious awards in
the telecommunications industry clearly demonstrates that we are taking the
right steps in executing our strategy."

The GSMA announced the winners of the coveted Global Mobile
Awards at the 2010 Mobile World Congress in Barcelona. Rob Conway, CEO and
Member of the Board, GSMA, noted: "A remarkable 500 entries from across the
global mobile ecosystem were submitted this year, all of an extremely high
caliber, and the winners should be incredibly proud of their achievements."

The awards presentation included the winners of 19 categories,
covering Mobile Marketing and Advertising, Best Mobile Contribution to Social
and Economic Development, the Green Mobile Awards, Mobile Personality of the
Year, Mobile Innovation and Mobile Entertainment and at the evening event two
highlight awards were presented, the Best Mobile Handset and the Chairman's
Award for outstanding contribution to the growth and success of the mobile
industry. More information about the awards can be found here:
www.globalmobileawards.com

Mobile TeleSystems OJSC ("MTS") is the largest mobile phone operator in
Russia and the CIS. Together with its subsidiaries, the Company services over
97.81 million subscribers. The regions of Russia, as well as Armenia,
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).
Additional information about MTS can be found on MTS' website at
www.mtsgsm.com.

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, including Comstar-UTS, 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.

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

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[1] Interactive Voice Response

[2] Unstructured Supplementary Service Data

[3] In 2009, MTS unveiled its 3i strategy - Integration, Internet and
Innovation. More information about the strategy can be found here:
www.mtsgsm.com/about/strategy/

    For further information, please contact in Moscow:

    Joshua B. Tulgan
    Director, Investor Relations
    Mob: +7-985-220-4208

    Department of Investor Relations
    Mobile TeleSystems OJSC
    Tel: +7-495-223-2025
    E-mail: ir@mts.ru

For further information, please contact in Moscow: Joshua B. Tulgan, Director, Investor Relations, Mob: +7-985-220-4208; Department of Investor Relations, Mobile TeleSystems OJSC, Tel: +7-495-223-2025, E-mail: ir at mts.ru