02/07/2012

Sistema announces results of its AGM

Moscow, Russia - July 2, 2012 - Sistema JSFC ("Sistema") (LSE: SSA), the largest diversified publicly-traded investment company in Russia and the CIS, today announces the results of its Annual General Meeting of shareholders ("AGM"), held on June 30, 2012.

The AGM approved payment of annual dividends of RUB 0.28 per ordinary share for the twelve months ended December 31, 2011, amounting to a total of RUB 2.7 billion (approximately US$ 82.3 million [1]). The dividend will be paid by August 29, 2012.

The AGM also approved the following members to the Board of Directors:
  
- Brian Dickie

- Vladimir Evtushenkov
      
- Alexander Goncharuk
        
- Marc Holtzman
          
- Vyacheslav Kopiev
          
- Robert Kocharyan
          
- Jeannot Krecké
          
- Roger Munnings
          
- Evgeny Novitsky
          
- Mikhail Shamolin
         
- Serge Tchuruk
          
- David Yakobashvili
          
- Dmitry Zubov

CJSC BDO was appointed as Sistema's Russian Accounting Standards auditor for 2012, and Deloitte & Touche CIS was appointed as Sistema's US GAAP auditor for 2012.

At the statutory Board meeting following the AGM, the Board of Directors appointed Vladimir Evtushenkov as Chairman.

The Company is not an investment company, and is not and will not be registered as such, under the U.S. Investment Company Act of 1940.

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

Sistema is the largest diversified publicly-traded investment company 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$ 7.9 billion for the first quarter of 2012, and total assets of US$ 47.3 billion as at March 31, 2012. 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 MICEX-RTS Stock Exchange, and under the symbol "SIST" on the Moscow Stock Exchange (MSE). Sistema was ranked number 342 in the 2010 edition of the Fortune Global 500 list. Website: www.sistema.com

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. 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.

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