Moscow, Russia- July 24, 2012 - Sistema JSFC ("Sistema" or the "Company") (LSE: SSA), the largest diversified publicly-traded investment company in Russia and the CIS, today announces that during the period of July 16 - 20, 2012 it has purchased 261,365  Sistema Global Depository Receipts (which accounts for approximately 0.05% of the Company's charter capital) and during the period of July 13 - 20, 2012 it has purchased 1,260,600 Sistema ordinary shares (which accounts for approximately 0.01% of the Company's charter capital). The depository receipts and ordinary shares were purchased within the framework of the Company's buyback programme, announced on May 31, 2012.

The Company is not an investment company, and is not and will not be registered as such, under the U.S. Investment Company Act of 1940.