Details for 3Q 2014 Cellular Data

Dear Colleagues!

Please find attached our cellular estimates for 3Q2014.

Russia:

- Number of subscribers (active SIM cards) increased to 239.4 mln, up 2.9 mln from 2Q2014, down 0.2 mln from 3Q2013;

- Penetration increased to 168% (up 2% from 2Q2014, down 0.1% from 3Q2013);

- There were 212 and 216 SIM cards in use per 100 population in Moscow and St. Petersburg respectively as of September 30, 2014.

Ukraine:

- Number of subscribers (active SIM cards) increased to 62.3 mln, up 2.5 mln from 2Q2014, up 1.6 mln from 3Q2013

- Penetration increased to 137% (up 5% from 2Q2014, up 4% from 3Q2013).

Please note that MTS have changed their subscriber accounting policy: subscriber stops being active after 3 months of inactivity vs 6 months previously. That is reflected in both 2Q and 3Q numbers as well as resulted in overall Russia and Ukraine subscriber contraction in 2Q2014 from what we had previously reported.

Should you have any questions please do not hesitate to contact us on the phone numbers below or via Email.

Best regards,

Anton Pogrebinsky

_______________________________

Advanced Communications & Media

11/2a Armyansky Pereulok

Moscow 101990, Russia

Tel: (+7-495) 623-5480; 933-5578

Email: ap@acm-consulting.com

www.acm-consulting.com