Moscow, Russia - 17 June 2008 - Sistema (LSE: SSA), the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector, today announced that following an additional share issue it has increased its stake in Shyam Telelink Ltd. ("Shyam Telelink") from 72% to 73.71%.

As previously announced, Sistema increased its ownership in Shyam Telelink to 72% on May 29, 2008.

Sistema increased its stake in Shyam Telelink from 72% to 73.71% as a result of its participation in the charter capital increase of Shyam Telelink in the total amount of US$ 470 million with Sistema's contribution being US$ 348 million.