Revenue Growth

Revenue Growth of 29% with Net Income Growth of 93%

MTS achieved strong financial results in 2007 as it successfully executed upon its corporate strategy.

During the year:

• Consolidated revenues grew by 29% to $8,252.4 from $6,384.3 million in 2006
• Operational Income Before Depreciation and Amortization (OIBDA) increased by 31% year-on-year to $4,223.4 from $3,229.7 million in 2006
• Consolidated net income was up year-on-year by 93% to $2,071.5 million
• MTS reported a free cash-flow generation of $964 million