Moscow, Russia- January 17, 2013 - Sistema JSFC ("Sistema", the "Group" or the "Company") (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, today announces that the Supreme Court of India has extended licences belonging to the Company's Indian telecom subsidiary Sistema Shyam TeleServices Limited (SSTL) from January 18, 2013 until February 4, 2013.  

In May 2012, SSTL filed a Curative Petition with the Supreme Court of India to reverse the cancelation of the licences. The Curative Petition is currently pending in the Supreme Court. Further announcements will be made if and when appropriate.