Moscow, September 29, 2003. Alexander Leiviman, a member of the Sistema JSFC Board of Directors and one of its shareholders, has been appointed General Director of OAO Sistemy Mass Media Concern. The incumbent, Sergei Klyuchenkov, has been made Managing Director of Sistemy Mass Media (SMM) Concern. In the view of Sistema JSFC management, these latest personnel appointments will reinforce the SMM management’s bid to set up efficient profit-earning mass media operations. Created in 1998, Sistemy Mass Media Concern is today a diversified media group that has its core assets deployed in publishing, radio broadcasting, and advertising. At present, the concern is made up of 25 companies, including the Rossia national daily, Metro paper, Literaturnaya gazeta (Literary Gazette) socio-political weekly, Smena daily in St. Petersburg, Rosbalt news agency, Radio Center Concern, which has the popular Moscow Speaking and Russian Nongovernmental Radio stations among its members, Nasha Pressa (Our Press) group of companies, one of Russia’s leading press distributors, and the Maxima Communications Group. ALEXANDER LEIVIMAN was born in Chernovtsy, Ukraine, on January 29, 1949. In 1972, he was graduated from the Mendeleyev Institute of Chemical Technology in Moscow. Worked for a year, 1972 to 1973, as workshop superintendent for a Moscow company producing household chemical goods; between 1975 and 1977, a senior research fellow at a research and design institute in Novorossiisk; in 1978 to 1992, held a succession of managerial positions at the chemical plant in Chernovtsy. In 1992, Mr. Leiviman was appointed deputy general director of the Moscow City Hall’s innovation foundation. Has been with Sistema JSFC since 1993; in 1996 and 1997 he was CEO of the Sistema-Invest joint-stock company; and in 1997 to 1999, CEO of the Intourist Travel Company. Between 2000 and 2002, Mr. Leiviman was first vice president and head of Sistema JSFC financial and investment operations. SERGEI KLYUCHENKOV was born in the Gorky (Nizhny Novgorod) oblast on July 11, 1969. In 1992, he was graduated from the international section of the journalism department, Moscow (Lomonosov) University, in international journalism. Between 1992 and 1995, he was reporter for the Kommersant paper. In 1995 to 1997, appointed advertising manager, rising to commercial manager for the Profile magazine. From 1997 to 2001, he was commercial manager for the Kompaniya (Company) weekly. Early in 2001, was invited to fill the project manager position of a new weekly put out by the Afisha Industries company. In August 2001, Mr. Klyuchenkov was appointed general director of the Metro paper, and a year hence, in August 2002, was made general director of the SMM Concern. For more details, contact: Andrei Bliznyuk Investor Relations Department Tel: +7 095 730 1543 bliznyuk@sistema.ru Olga Pestereva Press Office ??? + 7 095 730 1705 pestereva@sistema.ru