Moscow, Russia – December 29, 2014 – Sistema JSFC (“Sistema”) (LSE: SSA) announces that, in compliance with the decision of the Arbitrazh (Commercial) Court of the City of Moscow dated November 7, 2014 (case ¹À40-155494/2014), and following the request of the Federal Property Management Agency (Rosimuschestvo), it has transferred its 4,107,996 ordinary shares and 87,831 preferred shares in OJSC Bashneft, representing 2.3% of the company’s charter capital, to state ownership. Sistema therefore settled all demands of the Russian Federation in respect of the Bashneft shares. 

*** 

For further information, please visit www.sistema.com or contact: