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									July 1, 2008 - Major Russian Contract Signed with MTS

Velti plc Press Announcement
For Immediate Release July 1st, 2008

Velti plc (“Velti”; LSE-AIM: VEL), a leading provider of software platforms, applications and
services for advertising agencies, mobile operators and media, has commenced a major mobile
marketing project for Mobile TeleSystems OJSC (“MTS”; NYSE: MBT) – its first contract in Russia.
MTS, the largest mobile phone operator in Russia with a total of 86 million subscribers in Russia
and CIS countries, has contracted Velti to create, deliver and manage large mobile marketing
campaigns being run across Russia, using Velti’s market-leading, award-winning Mobile
Marketing and Advertising Platform. The initial campaign of the contract runs through the end
of August 2008.
The objective of the campaign is to increase MTS’ brand awareness by creating excitement and
interaction between the brand and its customers. This is an innovative, integrated campaign
with text messaging, mobile internet, web-interactive and TV components. The campaign is
supported by MTS-branded advertising on the national TV networks in Russia.
Velti’s revenues are based on a setup fee component and a performance-based component tied
to the overall results of the campaign. We cannot yet put a value on this contract until the end
of the project, but we expect it to make a significant contribution to this year’s revenues. The
gross margin in these types of engagements is smaller than Velti’s traditional margin however
revenues ramp up considerably faster and costs are very predictable.
Alexandros Moukas, Chief Executive of Velti, commented: “The MTS mobile marketing campaign
is a major strategic contract for Velti and is our first in Russia. The Russian market holds
enormous potential for us, being the 3rd largest mobile market globally behind China and India.”

Alexandros Moukas, Chief Executive Officer +44 (0) 20 7633 5000
Pantelis Papageorgiou, Director of Finance

+44 (0) 20 7367 8888
RBC Capital Markets:
+44 (0) 207 653 4667 Sarah Wharry

About MTS
Mobile TeleSystems OJSC (“MTS”) is the largest mobile phone operator in Russia and the
CIS.Together with its subsidiaries, the Company services over 86.3 million subscribers. The
regions of Russia, as well as Armenia, Belarus, Turkmenistan, Ukraine, and Uzbekistan, in which
MTS and its associates and subsidiaries are licensed to provide GSM services, have a total
population of more than 230 million. Since June 2000, MTS’ Level 3 ADRs have been listed on
the New York Stock Exchange (ticker symbol MBT). Additional information about MTS an be
found on MTS’ website at

About Velti
Velti’s market-leading mobile marketing technology platform, coupled with its experience in the
mobile advertising industry, enables clients around the world to deliver an extensive range of
highly targeted marketing campaigns. With operations in 18 countries, and a mobile marketing
joint venture with the Interpublic group, a top global holding group of advertising agencies, Velti
has the ability to reach through its platform an estimated 1.4 billion consumers.
Velti’s unique Mobile Marketing and Advertising Platform (version 4.0) manages the full cycle of
planning, execution and monitoring of multiple campaigns across differing mobile formats and
channels, offering customers more than 70 mobile marketing and advertising templates, which
can be managed from one user interface.

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