Moscow, Russian Federation Mobile TeleSystems OJSC ( MTS NYSE: MBT), the leading telecom operator in Russia and CIS, and Renaissance Insurance Group, one of the leading insurance companies in Russia, announce the launch of Smart Car Insurance, a pioneering fleet management telematics solution enabling corporate customers to reduce costs of auto insurance.
Smart Car Insurance is a machine-to-machine (M2M) solution that evaluates driving behavior and allows insurers to determine amount of the insurance premium based on the track record of drivers. The vehicle is fitted with a small device that captures vehicle information and driver behavior data, which is transmitted over MTS network.
Under the partnership agreement, a client of Renaissance Insurance will get a discount on using MTS's M2M service Mobile Employees that allows businesses to track locations of vehicles online and monitor mileage and fuel consumption. This new product launched jointly by MTS and Renaissance Insurance empowers corporate customers with analytical tools that help to asses and improve the quality of fleet management.
Sergey Irevli, MTS Director, Head of B2B products, commented, "The introduction of remote monitoring of the vehicles after a few months leads to a reduction in fleet exploitation costs by 15-20%. Partnership with Renaissance Insurance allows our customers us to further decrease operating costs by benefiting from an individual calculation of insurance premiums and preferential terms of usage.
Mobile Employees is an award-winning fleet management and employees monitoring service from MTS that provides for intelligent tracking and recording of fleet information. The solution is now available as a Location Based Service via SMS on feature phones and as a business application for smartphones both on Android and iOS and via dedicated GPS/GLONASS modules for vehicles. In 2013, MTS won prestigious Business Service Innovation Award for this product at the Global Telecom Business Innovation Awards honoring the most innovative solutions in the telecom industry.
MTS is the leading provider of M2M services in Russia. By the end of H1 2013, the number of M2M SIM-cards on MTS's network exceeded two million. Roughly 40% of M2M SIM-cards are used for fleet management solutions.
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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, Turkmenistan, Armenia and Belarus, a region that boasts a total population of more than 200 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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Moscow, Russian Federation Mobile TeleSystems OJSC ( MTS NYSE: MBT), the leading telecom operator in Russia and CIS, and Renaissance Insurance Group, one of the leading insurance companies in Russia, announce the launch of Smart Car Insurance, a pioneering fleet management telematics solution enabling corporate customers to reduce costs of auto insurance. 
