REG-JSFC Sistema Ron Sommer Takes the Lead of Sistema Telecommunications and Media Business

MOSCOW--(Business Wire)--

RON SOMMER TAKES THE LEAD OF SISTEMA TELECOMMUNICATIONS AND MEDIA BUSINESS

Sistema (LSE: SSA), the largest diversified public financial corporation in
Russia and the CIS, which manages large companies operating in different
industries, today announced the appointment of Ron Sommer, member of the Board
of Directors of Sistema, as the First Vice President of Sistema and Head of its
Telecommunications business unit. Mr. Sommer`s appointment is expected to be
confirmed at the next meeting of the Board of Directors.

Vladimir Evtushenkov, Chairman of the Board of Directors at Sistema, commented:
"I have known Ron Sommer since he worked at Deutsche Telekom and view him as one
of the most experienced and outstanding managers in the telecommunications
industry today. His excellent performance as a member of the International
Advisory Board of Sistema, as well as an independent director of the corporation
with the oversight of the development of telecommunications group`s strategy,
has contributed to the growth of our telecommunications business from a start up
into a global operator. In particular, I am grateful for his role in developing
MTS into a leading mobile operator in Eastern Europe. I am convinced that under
the leadership of Ron Sommer Sistema`s telecommunications and media business
will achieve a new, significantly higher level of development and realise its
full potential as a global telecom operator."

Leonid Melamed, President and Chief Executive Officer of Sistema, added: "I am
confident that Ron Sommer will further develop Sistema`s telecommunications
business into the most efficient and customer oriented operator with an
innovative platform of convergent services and advance Sistema`s position as a
global telecom services provider."

Ron Sommer commented: "I am honored to be appointed as the First Vice President
of Sistema and Head of telecommunications and media business, and excited by the
great potential of the Group`s telecom portfolio. I look forward to working more
closely with Sistema`s highly accomplished management team."

The telecommunications and media companies of Sistema serve over 90 million
customers in 7 countries. Sistema`s telecommunications and media portfolio
includes MTS, the leading mobile operator in Russia and the CIS; Comstar-UTS,
the largest alternative fixed line operator in Russia; Sistema Shyam
Teleservices Ltd., the fast growing pan-Indian mobile operator; and Sistema Mass
Media, one of the leading media content providers in Russia.

Biography:

Ron Sommer was born in 1949. In 2005 he was elected to the Board of Directors at
Sistema as an independent director. Since 2003 he worked as Chairman of the
International Advisory Board at Sistema. Between May 1995 and July 2002, he was
CEO of Deutsche Telekom AG. From 1980 to 1995, Ron Sommer held a number of
positions with Sony Corporation, including as CEO of Sony Deutschland, COO of
Sony Corporation of America and COO of Sony Europe. Ron Sommer received his PhD
degree in mathematics from the University of Vienna.

Ron Sommer is a member of the Board of Directors of Motorola, Tata Consultancy
Services, Weather Investments, Munich Reinsurance and a member of the
International Advisory Board of Blackstone Group.

***

For further information, please visit www.sistema.comor 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-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).

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.

JSFC Sistema

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