SISTEMA SIGNS SUPPLEMENTAL AGREEMENTS FOR ACQUISITION OF BASHKIR OIL AND ENERGY GROUP

Release Date: 2009-05-26

Moscow, Russia – May 22, 2009 – Sistema (LSE: SSA), the largest diversified public
financial corporation in Russia and the CIS, which manages large companies operating
in different industries, today announced that it has signed supplemental agreements with
Agidel-Invest LLC, Ural-Invest LLC, Inzer-Invest LLC and Yuryuzan-Invest LLC to
fix in roubles the total acquisition price of a controlling stake in Bashkir Oil and Energy
Group, including ANK Bashneft JSC, Ufaneftechim JSC, Novoil JSC, Ufaorgsintez
JSC, Ufimskiy NPZ JSC and Bashkirnefteproduct JSC. According to the terms of
supplemental agreements, the total price already paid for this transaction is RUB 66.8
billion with no further payments being affected.

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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-tech, oil and energy, radio and aerospace, banking,
real estate, retail, mass-media, tourism and healthcare services. Founded in 1993,
the company reported revenues of US$ 16.7 billion for the full year of 2008, and
total assets of US$ 29.2 billion as at December 31, 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).

Type:

NORMAL