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JSFC Sistema (SSA)

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Friday 22 July, 2011

JSFC Sistema

Sistema Board of Directors’ Allocated Shareho...

Sistema Board of Directors’ Allocated Shareholdings

JSFC Sistema

SISTEMA BOARD OF DIRECTORS’ ALLOCATED SHAREHOLDINGS

Moscow, Russia – July 22, 2011 – Sistema (the “Company”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announced changes and new allocations to the Sistema Board of Directors’ shareholdings in the Company.

In line with the remuneration structure for the members of Sistema Board of Directors, shareholdings in the Company of six members have been increased by 83,653 shares, two Directors have been granted 87,500 shares each and one Director has received 87,500 shares for the first time. Each allocation represents approximately 0.0009% of 9,650,000,000 total shares issued. Based on the closing GDR price on the London Stock Exchange as of July 21, 2011 of US$ 24.85 per GDR, this equates to an indicative value of approximately US$ 950,000.

  • Chairman of the Board Vladimir Evtushenkov’s shareholding in the Company has increased from 64.1821% to 64.1830%;
  • Independent Director Evgeny Novitsky’s shareholding in the Company has increased from 1.9938% to 1.9947%;
  • Director Alexander Goncharuk’s shareholding in the Company has increased from 1.8901% to 1.8910%;
  • Deputy Chairman of the Board Dmitry Zubov’s shareholding in the Company has increased from 0.8798% to 0.8807%;
  • Director Vyacheslav Kopiev’s shareholding in the Company has increased from 0.0541% to 0.0550%;
  • Director Dr. Ron Sommer’s shareholding in the Company has increased from 0.0042% to 0.0051%;
  • Deputy Chairman of the Board Leonid Melamed’s shareholding in the Company has increased from 0.0009% to 0.0018%;
  • Independent Director Roger Munnings, who previously did not hold any shares, was awarded 0.0009% of the outstanding share capital;
  • Independent Director Robert Kocharyan’s shareholding in the Company has increased from 0.0009% to 0.0019%.

***

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

Investor Relations       Public Relations
Evgeniy Chuikov Vsevolod Sementsov
Tel.: +7 (495) 692 1100 Tel: +7 (495) 730 1705

ir@sistema.ru

pr@sistema.ru

Sistema is the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of 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$ 7.8 billion for the first quarter of 2011, and total assets of US$ 46 billion as at March 31, 2011. Sistema’s global depository receipts are listed under the symbol “SSA” on the London Stock Exchange. Sistema’s ordinary shares are listed under the symbol “AFKS” on the RTS Stock Exchange, under the symbol “AFKC” on the MICEX Stock Exchange, 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.

This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the shares or securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies.