REG-Comstar UTS Notice of EGM

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MOSCOW--(Business Wire)--

COMSTAR BOARD SETS DATE OF EGM

Moscow, Russia - November 9, 2009 - "COMSTAR - United TeleSystems" JSC
("Comstar" or "the Group") (LSE:CMST), the largest integrated telecommunications
provider in Moscow and 69 Russian cities, today announced that the Board of
Directors (the "Board") set the date for Comstar`s Extraordinary General Meeting
of Shareholders ("EGM") for December 14, 2009. The EGM will take place at 11.00
am Moscow time at the following address: 12/3 Petrovsky Boulevard, Moscow,
127051, Russia.

The proposed agenda of the EGM includes the determination of the EGM schedule,
the termination of powers of the Revision Committee`s members, the election of
the members of the Revision Committee, the approval of amendments to the
Charter, the determination of the number of members of the Revision Committee
and the determination of the number of members of the Board of Directors.

Shareholders registered at the record date of November 6, 2009 will be eligible
to participate and vote at the meeting.

Further information with regard to the EGM and other related issues will be
available on the Company`s web site www.comstar-uts.ru.

For further information, please visit www.comstar-uts.com or contact:

Comstar UTS Shared Value Limited
Masha Eliseeva Matthew Hooper
Tel: +7 985 997 0852 Tel. +44 (0) 20 7321 5010
ir@comstar-uts.ru comstar@sharedvalue.net

Comstar-UTS is the leading fixed-line telecommunications company in Moscow.
Comstar provides voice, data, television and other value-added services to
residential and corporate subscribers and operators, using its extensive
backbone network and exclusive last mile access to 97% of Moscow households. The
Company also offers communications services in five Russian regions, Armenia and
Ukraine. Comstar had 3.6 million residential subscribers and 791 thousand
residential broadband internet subscribers in Moscow, as well as 324 thousand
residential regional and international broadband internet subscribers and 2.0
million residential regional pay-TV subscribers at the end of June 2009. Comstar
generated US$ 698.0 million of revenues and a 39.5% OIBDA margin for the six
months ended June 30, 2009. Comstar`s Global Depositary Receipts are listed on
the London Stock Exchange (ticker: CMST).

Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Comstar UTS. You can identify forward looking statements by terms
such as "expect," "believe," "anticipate," "estimate," "intend," "will,"
"could," "may" or "might", the negative of such terms or other similar
expressions. Comstar UTS wishes to caution that these statements are only
predictions, and that actual events or results may differ materially. Comstar
UTS does not intend to update these statements to reflect events and
circumstances occurring after the date hereof or to reflect the occurrence of
unanticipated events. Many factors could cause the actual results to differ
materially from those contained in projections or forward-looking statements of
Comstar UTS, including, among others, general economic conditions, the
competitive environment, risks associated with operating in Russia, rapid
technological and market change in the industries Comstar UTS operates in, as
well as many other risks specifically related to Comstar UTS and its
operations.

Comstar UTS

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