MTS s Brand Enters Top-0 Telecom Brands

Moscow, Russian Federation Mobile TeleSystems OJSC ( MTS or the Company NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces it has been named as one of the BRANDZ Top 100 Most Powerful Brands, a ranking published by the Financial Times and Millward Brown Optimor, a leading global market research and consulting firm. In 2013, MTS's brand has been ranked as the most valuable telecom brand in Russia and one of the top-10 telecom brands globally. MTS's brand rose to the 83rd position, which represents an increase of its brand value by 11% to $10.63 billion.

In 2013, MTS improved its position by two points and for the first time was ranked in the top-10 global telecom brands. In 2008, MTS was the first Russian company to enter the BRANDZ ranking. Sberbank is the only other Russian brand for the third year in a row featured in BRANDZ ranking.

Vasyl Latsanych, MTS Vice President for Marketing, commented, We are pleased that power and dynamics of the MTS brand is again being recognized in one of the most prestigious global rankings. We believe that our ability to anticipate the needs of our customers directly translated into added brand value. Our focus on promoting mobile Internet usage from smartphones necessitated innovative and pioneering solutions, such as the launch of MTS-branded smartphones priced below $100 and combined offers with premium handset vendors to provide free Internet with smartphones purchased at MTS retail outlets. Most recently, MTS was the first telecom provider in Russia to introduce bundled tariff plans offering free voice services to customers using Internet tariffs. In 2012, our efforts to promote mobile Internet usage translated into a 34% data traffic revenue growth, boosting our financial performance as well as the appeal of our brand.

More information about the BRANDZ ranking is available at http://www.brandz.com

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For further information, please contact in Moscow:

Joshua B. Tulgan

Director, Department of Corporate Finance and 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, entral and Eastern Europe, 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. The Group has been awarded GSM licenses in Russia, Ukraine, Armenia, Turkmenistan 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, 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.

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LINK:	http://www.mtsgsm.com/news/2013-05-22-50649/...
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