Moscow, Russia – December 9, 2014 – Sistema JSFC (“Sistema”) (LSE: SSA), today announces that, in accordance with the decision of the Arbitrazh (Commercial) Court of the City of Moscow dated November 7, 2014, which entered into force on December 09, 2014, Sistema and its subsidiary CJSC Sistema-Invest have transferred their 122,971,934 ordinary shares and 6,192,245 preferred shares in OJSC Bashneft (the “Shares”) to state ownership, represented by the Federal Property Management Agency (Rosimuschestvo). The Shares represent 71.6% of Bashneft charter capital.

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