UK Regulatory Announcement



Moscow, Russia – April 02, 2013 – Sistema JSFC (“Sistema” or the “Company”)
(LSE: SSA), the largest publicly-traded diversified holding company in Russia
and the CIS, announces that MTS BV, a wholly owned subsidiary of Mobile
TeleSystems OJSC (“MTS”) concluded a transaction to acquire a minority stake
in MTS Bank OJSC (“MTS Bank”).

MTS acquires a 25.095% stake in MTS Bank for approximately RUB 5.1 billion
through an additional share issue, in line with the terms announced on October
25, 2012. The transaction is fully in line with Sistema’s strategy of
unlocking synergies between financial and mobile services and MTS's 3i
Strategy, which calls for the expansion into lines of business that complement
its extensive telecommunications and retail networks. The proceeds from the
transaction will be used to finance expansion of the joint MTS Dengi project.

All regulatory approvals necessary for completion of the transaction,
including antimonopoly and Russian Central Bank approvals, have been received.
Completion of the transaction is expected next week with subsequent
registration of the share issuance report by the Russian Central Bank.
Following the transaction Sistema’s direct stake in MTS Bank will be 65.25%.

In connection with the deal, MTS and MTS Bank signed a share purchase
agreement and MTS and MTS Bank also concluded a profit-sharing agreement
whereby MTS and MTS Bank would realize 70% and 30% of the proceeds from the
MTS Dengi project respectively. In addition, MTS and Sistema signed a
shareholders agreement and MTS, Sistema and MTS bank signed a warranty and
indemnity deed.


For further information, please visit or contact:

Investor Relations          Public Relations

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

Sistema is the largest publicly-traded diversified holding 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$ 8.8 billion for the third quarter of 2012, and total assets of
US$ 46.3 billion as at September 30, 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 315 in the 2011 edition of the Fortune Global
500 list. Website:

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.

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.

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.


JSFC Sistema
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