Moscow, Russia - February 11, 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 the appointment of Sergey Boyev as Vice President for Development of State Programmes and Non-Public Assets with the effect from February 18, 2008.

The Board of Directors of Sistema approved the appointment of Mr. Boyev on February 9, 2008. From 2000, Mr. Boyev served as Head of OJSC Radio Technical and Information Systems Concern ("RTI Systems"), a wholly owned Sistema's subsidiary, and was a member of its Board of Directors. The Board of Directors of Sistema recommended appointing Mr. Boyev as Chairman of the Board of Directors of RTI Systems. Vyacheslav Lobuzko, Deputy Director and the Head of Marketing Department of RTI Systems, has been appointed as acting General Director.

Alexander Goncharuk, President and Chief Executive Officer, commented: "One of our main strategic tasks is to develop our non-public assets. We have also strengthened our cooperation with the State in implementing joint projects in key sectors of the national economy. All this required Sistema to make a number of new appointments. Sergey Boyev is a highly skilled manager who established a profitable scientific and industrial holding of the national scale. We are confident that he will take the development of our non-public assets and joint programs with the State to the next level."

Sergey Boyev was born on September 17, 1953, in Moscow, Russia. From 2000, Mr. Boyev served as General Director of RTI Systems and was a member of its Board of Directors. From 1971 to 1999, Segey Boyev worked at Mints Radio Engineering Institute, where he held a number of positions, from an apprentice to a metalworker to General Director of the Institute. Mr. Boyev is a Doctor of Economic Science and a Professor, as well as an author of a number of scientific research works. He is also an Honored Economist of the Russian Federation, a Member of the Academy of Military Science and the International Telecommunication Academy, and an honored radio operator. Sergey Boyev is a graduate of the National Law Institute and the Moscow Institute of Management named after Ordzhonikidze. He also finished an executive program with Gosplan (State Planning Committee) of the USSR in 1988.