Moscow, Russia- December 28, 2012 - 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 acquired 50% of the authorised capital of Financial Alliance LLC (\"Financial Alliance\"), a professional railcar operator, from ANK Bashneft JSC (\"Bashneft\"), Sistema\'s subsidiary. This transaction is in line with Bashneft\'s strategy to divest its non-core assets. Bashneft acquired 50% of the authorised capital of Financial Alliance in August 2012 by transferring its fleet of approximately 4500 railcars to it. 

The total amount of the deal is set at RUB 3.41 billion (approximately US$ 110 mln). An independent valuation of Financial Alliance was conducted by Ernst & Young.

Mikhail Shamolin, President and Chief Executive Officer of Sistema, commented: \"The acquisition of 50% of the authorised capital of Financial Alliance enables us to begin the consolidation of the Group\'s rail transportation assets. This will provide additional momentum for the development of these assets and increase the efficiency of the decision-making process\".

Financial Alliance LLC is a joint venture of Sistema JSFC and a group representing the company\'s management team. Financial Alliance owns, leases and rents approximately 12,000 railroad tankers and open railcars. The company\'s core activities are management of its own and leased railcar fleet, as well as provision of freight services (operating) and subleasing.