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JSFC Sistema (SSA)

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Tuesday 13 October, 2009

JSFC Sistema

Sistema Closes Transaction With MTS To Sell Sta...

Sistema Closes Transaction With MTS To Sell Stake In Comstar-UTS

JSFC Sistema

Sistema Group (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies operating in different industries, today announced that on October 12, 2009 it completed the sale of a 50.91% stake in Comstar-UTS to Mobile TeleSystems (“MTS”) for a total consideration of RUB 39.15 billion (approximately US$ 1.32* billion) or RUB 184.02 (approximately US$ 6.21) per ordinary share. As the result of this transaction Sistema Group’s total shareholding in Comstar-UTS was transferred to MTS.

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* 50% of the sale price was pegged at RUB/US$ exchange rate of 31.9349, while the remaining balance was settled based on the official exchange rate of the Central Bank of Russia on October 12, 2009.

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

Sistema is the largest public diversified financial corporation in Russia and the CIS, which manages companies serving over 100 million customers in the sectors of telecommunications, high technology, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the company reported revenues of US$ 4.2 billion for the second quarter of 2009, and total assets of US$ 33.8 billion as at June 30, 2009. 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, general economic 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.