SSA: JSFC Sistema: Notice of AGM

  SSA: JSFC Sistema: Notice of AGM

UK Regulatory Announcement



Moscow, Russia – May 30, 2013 – Sistema JSFC (“Sistema”, the “Group” or the
“Company”) (LSE: SSA), the largest publicly-traded diversified holding company
in Russia and the CIS, today announces that its Board of Directors has
recommended the Annual General Meeting (AGM) the following composition of the

  *Vladimir Evtushenkov
  *Alexander Goncharuk
  *Sergei Boev
  *Brian Dickie
  *Marc Holtzman
  *David Iakobachvili
  *Dmitri Zubov
  *Robert Kocharyan
  *Jeannot Krecke
  *Peter Mandelson
  *Roger Munnings
  *Mikhail Shamolin
  *Serge Tchuruk

The Board recommended two new candidates to the Board of Directors – Sergei
Boev and Peter Mandelson – who will replace Vyacheslav Kopiev and Evgeny
Novitsky.. The size of the Board and the level of independent directors will
remain unchanged totalling 13 and 8 members, respectively. The agenda for the
AGM, scheduled to be held on June 29, 2013, has been updated accordingly.

In addition, the Board has also approved the following new appointments to
Sistema’s Management Board with effect from June 1, 2013:

  *Vsevolod Rozanov appointed as Senior Vice-President and Chief Financial
  *Alexey Buyanov appointed as First Vice-President, Portfolio Manager;
  *Alexey Chupin appointed as Vice-President, Portfolio Manager.

Vsevolod Rozanov was previously CEO of Sistema Shyam TeleService Limited
(“SSTL”), Sistema’s Indian Telecom subsidiary, where he led the launch of the
services and development of the company into one of the leading data players
in the country. Prior to his role in India, Vsevolod held CFO positions at
MTS, Comstar-UTS and MTU-Inform. The Board of Directors of SSTL earlier
approved appointment of Dmitry Shukov as CEO of SSTL. Dmitry formerly held
senior management positions at Tele2 Russia and MTS.

Alexey Buyanov as First Vice-President will be responsible for Sistema’s
portfolio comprised of financial services investments. With over 15 years of
financial sector experience, including CFO position at Sistema and
Vice-President for Investments and Securities at MTS, Alexey will oversee
Sistema’s investments in MTS Bank, East West United Bank and Trust Investment
Company and development of other financial instruments for the Group.

Alexey Chupin as Vice-President will be responsible for Sistema’s investments
in Medsi, and Binnopharm. Alexey was previously CEO of Binnopharm, Sistema’s
pharmaceutical business.

Biographical Information:

Sergei Boev is currently CEO of RTI. Sergei graduated from the All-Union
Juridical Institute, the Moscow Management University n.a. S. Ordzhonikidze,
and completed graduate courses at USSR State Planning Committee. From 1971
to1999, he worked in the Mints Radio Technology Institute, establishing a
career from apprentice to CEO. Since 2000, Sergei held CEO and Board positions
at RTI Concern. From 2008 to 2011, Sergei was Vice- President of Sistema
responsible for non-public assets and high-technology division. In 2008, he
was appointed Chief Designer of Prefabricated Radar Stations. In 2012, Sergei
was appointed Chief Designer of the National Missile Warning System.

Lord (Peter) Mandelson is a former European Trade Commissioner and British
First Secretary of State. He was the European Trade Commissioner between 2004
and 2008, when he negotiated trade agreements with many countries and led
European negotiations in the WTO Doha World Trade Round. He was a Minister
without Portfolio, Secretary of State for Trade and Industry, Northern Ireland
Secretary and Secretary of State for Business, Innovation and Skills in the
British government under Tony Blair and Gordon Brown between 1997 and 2010. He
was a Member of Parliament for Hartlepool in the UK from 1992 until 2004 and
Director of Campaigns and Communications for the Labour party between 1985 and
1990. He is also President of the Policy Network think tank, Chairman of
Global Counsel and Chairman of Lazard International.


For further information, please visit or contact:

Investor Relations         Public Relations
Evgeniy Chuikov               Yulia Belous
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$ 34.2 billion for the full year of 2012, and total assets of
US$ 44.7 billion as at December 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. 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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