Mobile TeleSystems (MBT)
Q4 2005 Earnings Conference Call
March 27th 2006, 9:00 AM.

Executives:

Vassily Sidorov, President and Chief Executive Officer
Eric Franke, Chief Operating Officer
Grzegorz Esz, Chief Marketing Officer
Beyes Fedoisky (phonetic) Acting Chief Financial Officer
Mark Burdon, Chief Financial Officer of Ukrainian Operations
Andrey Karvanion, Vice President for Corporate Communication.

Analysts:

Sean Gardiner, Morgan Stanley
Vladimir Postolovsky, UBS
Rizwan Ali, Bear Stearns
Sergei Arsenyev, Goldman Sachs
Herve Drouet, HSBC
Jean Lemardeley, JP Morgan
Alexei Yakovitsky, Deutsche Bank
Andrei Bogdanov, Alfa Bank
Evgeny Golossnoy, Troika Dialog
Juri Holliyokcos, Credit Suisse
Anna Bossong, CA-IB
Haggard Eskoyva, Credit Suisse

Presentation

Operator

Thank you for holding ladies and gentlemen, and welcome to the Fourth Quarter and Full Year 2005 Financial and Operating Results. Throughout today’s presentation all participants will be in a listen-only mode. After the presentation, there will be an opportunity to ask questions. If anyone has difficulty hearing the presentation, please press the “*

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