Moscow, Russia – November 24, 2011 – JSFC Sistema (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that Igor Petrov, Company Secretary of Sistema, has won a national Director of the Year award in a category Corporate Governance Director – Company Secretary.

The Director of the Year award was founded by the Independent Directors Association under the auspices of PricewaterhouseCoopers and has been held annually since 2006. Since 2009, the award has been co-organised in partnership with the Russian Union of Industrialists and Entrepreneurs.

The award recognises the Director’s personal contribution to the development of corporate governance, the implementation and promotion of corporate governance standards and best practices for boards of directors within the Russian Federation. Winners of the award are chosen based on studies of boards of directors’ composition in the largest Russian companies.