News

Moscow, Russia – September 4, 2008 – “COMSTAR – United TeleSystems” OJSC (“Comstar” or “the Group”) (LSE: CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced its unaudited consolidated US GAAP financial results for the second quarter and six months ended June 30, 2008.

Moscow, Russia – September 4, 2008 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced that it has commenced the integration of the regional operators of STREAM-TV Group, which is owned by Sistema Mass Media (“SMM”), and providing cable TV and broadband internet access services in 40 Russian cities with a combined population of over 15 million people.

September 3, 2008, Moscow: COMSTAR – United TeleSystems JSC (COMSTAR-UTS, LSE: CMST), the leading supplier of integrated telecommunication solutions in Russia and the CIS, announces opening of its first Moscow integrated centre of sales and service to subscribers of COMSTAR-UTS Group.

September 1, 2008, Moscow, Rostov-on-Don. COMSTAR – United TeleSystems (COMSTAR-UTS OJSC, LSE: CMST), a major operator of integrated telecommunications services in Russia and the CIS, announces that CJSC Digital Telephone Networks South (DTN) – leading alternative telecom operator in the South Federal District of the RF, member of COMSTAR-UTS group of companies, updates tariff plans package in respect of high speed Internet access services for residents of Rostov-on-Don and Taganrog, increasing data transmission speed by two times.

Comstar will host a conference call on September 4, 2008 at 8.00 am (ET) / 1.00 pm (UK time) / 2.00 pm (CET) / 4.00 pm (Moscow Time) to present and discuss results for the three and six months ended June 30, 2008

Moscow, Russia – August 29, 2008 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced that Standard & Poor’s Rating Services has raised its long-term corporate credit ratings on Comstar and its subsidiary, MGTS, to “BB” from “BB-“, with a stable outlook. The “ruAA” Russia national scale ratings on Comstar and MGTS were also confirmed.

August 28, Moscow, Saint Petersburg. COMSTAR – United TeleSystems (COMSTAR-UTS OJSC, LSE: CMST), a major operator of integrated telecommunications services in Russia and the CIS, announces that it has initiated building of Virtual Private Network (VPN) for bank Tavrichesky in Saint Petersburg.

Moscow, Russia – August 26, 2008 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Company”) (LSE: CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced that Access Telecommunications Coöperatief U.A. (“Access”, previously known as 2711 Centerville Coöperatief U.A.) has initiated the process of exercising its put option to sell 46,232,000 Comstar shares to MGTS Finance S.A. at the weighted average closing price of the Comstar Global Depositary Receipt on the London Stock Exchange for the 90 trading day period up to and including the trading day prior to the date of exercise of the Put Option (“Option Interest”). The Option Interest represents 11.06% of the total number of issued and outstanding Comstar shares. The transaction is expected to be completed, by means of the transfer of rights and payment, within 60 business days from August 25, 2008.

21 August 2008, Moscow. COMSTAR – United TeleSystems (COMSTAR-UTS OJSC, LSE: CMST), a major operator of integrated telecommunications services in Russia and the CIS, announces the completion of reorganization of 100% subsidiary companies, Konversiya-Svyaz CJSC and TK Overta CJSC, in the form of their affiliation to COMSTAR-UTS OJSC.

August 20, 2008, Moscow. COMSTAR – United TeleSystems (COMSTAR-UTS OJSC, LSE: CMST), a major operator of integrated telecommunications services in Russia and the CIS, announces that OJSC Tyumenneftegazsvyaz (TNGS), subsidiary company of JSC COMSTAR-UTS, completely updated unlimited tariff plans package for Tyumen residents from August 15 and increased broadband Internet access speed by two times. At the same time subscription fee remained unchanged.