Press-releases

Moscow, Russia – July 3, 2008 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Company”) (LSE: CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced that it has implemented Oracle E-business Suite, the full-scale Enterprise Resource Planning (“ERP”) system from Oracle. The total investment in the project amounted to US$ 12 million.

1 July 2008, Moscow. Comstar – United Telesystems (JSC Comstar-UTS, LSE: CMST), the leading supplier of integrated telecom services in Russia and the CIS announced to have completed the reorganization of CJSC Sochitelecomservice (city of Sochi) and CJSC PortTelecom (Moscow region) in the form of merger into the parent - JSC Comstar-UTS.

Moscow, Russia – June 30, 2008 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced the decisions made at the Annual General Meeting of its shareholders (“AGM”) on June 30, 2008.

June 27, 2008, Moscow: COMSTAR–United TeleSystems (COMSTAR-UTS, LSE: CMST), the leading operator of integrated telecommunication solutions in Russia and the CIS, announces that on 27 June 2008, general annual shareholders’ meeting of open joint-stock company Moscow Telephone Urban Network forming a part of COMSTAR-United TeleSystems Group was held. During the meeting, the following decisions were made:

June 26, 2008, Moscow: COMSTAR – United TeleSystems JSC (COMSTAR-UTS, LSE: CMST), the leading supplier of integrated telecommunication solutions in Russia and the CIS, and OOO Crystal Point that makes a part of Platezhnye Tekhnologyi holding have developed a joint solution for mobile banking, mobile commerce and remote control of no-bank services Check-In-Phone that provide for outsourcing of baking information and personal data processing based on COMSTAR-OTS smart platform.

Moscow, Russia – June 26, 2008 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced its plans to build a new generation data transport network in Moscow. The overall investment in the project will amount to approximately US$ 10 million during 2008.

June 17, 2008, Moscow: COMSTAR – United TeleSystems JSC (COMSTAR-UTS, LSE: CMST), the leading supplier of integrated telecommunication solutions in Russia and the CIS, announced that LLC COMSTAR-Ukraine, a member of COMSTAR-UTS group, and LLC Unified instant payment systems (OSMP) signed a contract on acceptance of payments for telecom services via OSMP terminals in Odessa.

16 June 2008, Moscow, Erevan. Comstar – United Telesystems (JSC Comstar-UTS, LSE: CMST), the largest integrated telecommunications operator in Russia and the CIS, announced that, CJSC Cornet-АМ, a subsidiary of JSC Comstar-UTS in Armenia, has been awarded the frequencies by the Armenian Commission for Regulation of Public Services on June 11 in the 3660-3700 MHz band for a ten-year period for the use in the following regions of Armenia: Aragatsotn, Ararat, Armavir, Gegarkunik, Lory, Kotayk, Shirak, Sunik and Tavush. The frequencies have been allocated to Cornet-АМ for operation of its wireless access network.

10 June 2008, Moscow . COMSTAR – United TeleSystems JSC (“Comstar” or “the Group”) (LSE: CMST), the leading integrated telecommunications operator in Russia and the CIS, announced that CJSC Conversia Svyaz, a member of the JSC Comstar-UTS Gorup, has put into commercial operation the intra-zone fixed line telecommunication network in the Saratov region.

June 9, 2008, Moscow: COMSTAR – United TeleSystems JSC (COMSTAR-UTS, LSE: CMST), the leading supplier of integrated telecommunication solutions in Russia and the CIS, announced that COMSTAR-Direct CJSC, the major broadband Internet provider (STREAM brand), a member of COMSTAR-UTS Group, starts sales of broadband Internet access services via QIWI payment terminal network serviced by the United Instant Payment System (UIPS).