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JSFC Sistema (SSA)

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Wednesday 15 October, 2008

JSFC Sistema

Statement re Investment Conference Call Regardi...

JSFC Sistema
                  

     INVESTMENT CONFERENCE CALL REGARDING SISTEMA POSITION IN CURRENT MARKET
                                   CONDITIONS

Sistema (LSE: SSA), the largest public diversified corporation in Russia and the
CIS which manages fast growing companies operating in the consumer services
sector, held an investor conference call to discuss Company`s position in
current market conditions.

On the call, the management stated that MTS's shares owned by Sistema have not
been pledged. In fact, Sistema recently pledged 0.4% of MTS's outstanding shares
in connection with a $35 million credit facility, which will be repaid in
November of 2008.

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For further information, please visit www.sistema.com or contact:

Sistema Investor Relations                 Shared Value Limited
Pavel Kim                                  Larisa Kogut-Millings
Tel: +7 495 692 22 88                      Tel: +44 (0) 20 7321 5010
ir@sistema.ru                              sistema@sharedvalue.net
*T

Sistema is the largest public diversified corporation in Russia and the CIS,
which manages fast growing companies operating in the consumer services sector
and has over 100 million customers. Sistema develops and manages market-leading
businesses in selected service-based industries, including telecommunications,
technology, banking, real estate, retail, media, tourism and healthcare. Founded
in 1993, the company reported unaudited revenues of US$ 4.3 billion for the
second quarter of 2008, and total assets of US$ 32.7 billion as at June 30,
2008. Sistema's shares are listed under the symbol 'SSA' on the London Stock
Exchange, under the symbol 'AFKS' on the Russian Trading System (RTS), under the
symbol 'AFKC' on the Moscow Interbank Currency Exchange (MICEX), and under the
symbol 'SIST' on the Moscow Stock Exchange (MSE).

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 Sistema. 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. We wish to caution you that these statements are only predictions
and that actual events or results may differ materially. In addition, there is
no assurance that the new contracts entered into by our subsidiaries referenced
above will be completed on the terms contained therein or at all. We do 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 our projections or forward-looking statements, including, among others,
deteriorating economic and credit conditions, our competitive environment, risks
associated with operating in Russia, rapid technological and market change in
our industries, as well as many other risks specifically related to Sistema and
its operations.