MTS Takes Possession of 3.29% of Company's Voting Shares

MOSCOW, March 17, 2016 /PRNewswire/ --

Moscow, Russian Federation - Mobile TeleSystems PJSC ("MTS" or the "Company" - NYSE: MBT; MOEX: MTSS), the leading telecommunications provider in Russia and the CIS, announces the acquisition of shares representing 3.29% of its charter capital. 

The shares, which equal 67,995,335 ordinary shares (in the form of 33,997,667 ADRs), previously were held by Mobile TeleSystems Bermuda Limited ("MTS Bermuda"), a wholly owned subsidiary of MTS. The shares were originally acquired as part of a share repurchase program launched in 2006. On December 17, 2015, the Board of Directors of MTS reached a decision to liquidate MTS Bermuda, a process through which MTS has taken possession of the shares.

As shares now directly held as treasury shares in accounts controlled by MTS, the Company is not permitted under Russian law to pay dividends on these shares.

Learn more about MTS. Visit the official blog of the Investor Relations Department at http://www.mtsgsm.com/blog/

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Mobile TeleSystems PJSC ("MTS" - NYSE:MBT; MOEX:MTSS) is the leading telecommunications group in Russia, Central and Eastern Europe.  We provide wireless Internet access and fixed voice, broadband and pay-TV to over 100 million customers who value high quality of service at a competitive price. Our wireless and fixed-line networks deliver best-in-class speeds and coverage throughout Russia, Ukraine, Armenia, Turkmenistan, Uzbekistan and Belarus. To keep pace with evolving customer demand, we continue to grow through innovative products, investments in our market-leading retail platform, mobile payment services, e-commerce and IT solutions. For more information, please visit: http://www.mtsgsm.com.

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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 MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," and the negative of such terms or other similar expressions.  We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not undertake or intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically the Company's most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the severity and duration of current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of Russian, U.S. and other foreign government programs to restore liquidity and stimulate national and global economies, our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so, strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures, rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, governmental regulation of the telecommunications industries and other risks associated with operating in Russia and the CIS, volatility of stock price, financial risk management and future growth subject to risks.

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For further information, please contact in Moscow:
Joshua B. Tulgan
Director, Department of Corporate Finance and Investor Relations
Mobile TeleSystems PJSC
Tel: +7-495-223-2025
E-mail: ir@mts.ru