UK Regulatory Announcement


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 it has signed two binding Sale Purchase Agreements
(“Agreements”) with Bradinor Holdings Limited (“Bradinor”) and Cromeld
Management Limited (“Cromeld”) for the sale by the Company of 25% and 24%
stakes in OJSC Oil and Gas Company RussNeft (“RussNeft”), respectively, for a
total cash consideration of US$ 1.2 billion. The beneficial owners of Bradinor
and Cromeld are Mikail Shishkhanov and Felix Dlin, respectively. The
completion of the transaction is expected in 3Q 2013 and is subject to
satisfaction of all conditions precedent.

In addition, Sistema has obtained a call option to possibly acquire stakes in
eight exploration and production companies which currently form RussNeft’s
Urals Group of companies. The decision whether to exercise the call option
will be subject to operational considerations, due diligence and corporate and
regulatory approvals. The call option is exercisable within three months of
the signing of the Agreements.

Mikhail Shamolin, President and CEO of Sistema commented:
“Today’s announcement is a milestone achievement for Sistema and its
shareholders. In just over three years since the acquisition of our RussNeft
stake, Sistema has achieved an impressive return on its investment. Under the
diligent leadership of all stakeholders, RussNeft has transformed itself into
one of the leading and fastest growing Russian upstream companies delivering
excellent operational and financial results. This transaction is another
demonstration of Sistema’s unique track record of securing transformational
deals, applying our value added strategic insight and achieving attractive
monetization opportunities.”

First Quarter 2013 Conference Call

Sistema plans to announce its 1Q 2013 Financial Results on June 21, 2013. The
management will host an analyst conference call to discuss the results on June
21 at 9 am (London time) / 10 am (CET) / 12 pm (Moscow Time). To participate
please use details below.

The dial-in numbers for the conference call are:

UK/ International: +44 208 515 2319
US: +1 480 629 9645

The conference call title: “Sistema First Quarter 2013 Financial Results”.

A replay of the conference call will be available on the Company’s website for 7 days after the event.


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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