Disclaimer

Disclaimer

Some statements in this Annual Report may contain projections or forecasts regarding future events or future financial performance of the Company, as defined in the provisions of the US Securities Act of 1995. Such statements contain such terms as expect, estimate, intend, will, could or other similar expressions. We wish to caution you that these statements are only predictions, and that actual events or results may differ. We shall not be obliged and do not intend to review these statements for reconciliation with actual results. We refer you to the documents MTS files to the U.S. Securities and Exchange Commission, and Form 20-F, in particular. These documents contain and identify important factors, including those contained in the Risk Factors section of the Form 20-F. These factors could cause the actual results to differ from the projections and forecasts. They include: gravity and duration of the current economic situation period, including high volatility of refinancing rates and exchange rates, prices of goods and shares and financial assets value, impact of government programs of Russia, the USA and other countries on restoring liquidity and stimulation of national and world economy, our opportunity to maintain current credit rating and impact on the cost of financing and competitive position and if the latter is decreased, strategic activity including acquisitions and alienations and successful integration of acquired businesses including Comstar-UTS, potential fluctuations in quarterly results, our competitive environment, dependence on development of new services and tariff structures, rapid technological and market changes, strategy, risks associated with the telecommunication infrastructure, government regulation of telecommunication industry and other risks associated with operating in Russia and the CIS, fluctuations of stock quotes, financial risk management and other arising risk factors.

Creating the best customer experience is MTS OJSCs mission as the company sees it today.

A company, to provide the best customer experience, shall understand the customers inner needs at any time and at any company contact point. It is critical to pay attention to and support each customer before the customer addresses for help, to meet the customers needs before he is able to recognize and state them. MTS shall be the customers friend and partner whose advice is important and to be trusted.

MTS OJSC is the largest telecom operator in Russia, Central and Easter Europe. MTS OJSC enables people to communicate and get information in the majority of territories across Russia, Ukraine, Republic of Belarus, Uzbekistan and Armenia.