Moscow, Russia – December 31, 2009 – Sistema (the “Group”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies operating in different industries, today announced the sale of its equity stakes in Ufaneftechim JSC (47.18%), Novoil JSC (61.57%), Ufaorgsintez JSC (51.49%) and Ufimskiy NPZ JSC (55.58%) to ANK Bashneft JSC (“Bashneft”). The objective of these transactions is to create a vertically integrated oil group.