Moscow, Russia - 27 June - JSC Sistema-Hals (LSE: HALS), the leading Moscow-based real estate development, management and investment company, has announced the adoption of a stock option programme for members of its Board of Directors and Management Board.

The programme will provide both stock options and stock bonuses. Stock options entitle participants to acquire a specific number of shares in JSC Sistema-Hals, at a price determined and agreed in advance. Stock bonuses come in the form of shares granted to participants free of charge in return for their contribution to the development of the company. Stock options will affect 2.1% and stock bonuses 3.6% of shares.

"The stock option programme was adopted to further incentivise the Board of Directors and Management Board of the company," says Dmitry Zubov, Sistema-Hals' Chairman of the Board of Directors.  "We believe that it will enable the company to achieve better results, more consistent growth of financial indicators and will increase the market value of the company."