Moscow, Russia,  November  6, 2007-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 it has registered its share issue with the Federal Financial Markets Service ("FFMS"), which is the result of the previously announced split of the nominal value of the Company's ordinary shares by 1,000 times.

The share split is being implemented with the objective of raising liquidity levels in the trading of Sistema's shares in Russia.

 After the split is completed, the number of outstanding shares will increase to 9,650,000,000 ordinary shares, with a par value of RUB 0.09 per share. The Company's share capital will remain RUB 868,500,000. State registration number 1-05-01669-A has been assigned to the share split.

 Sistema's share split will be effected on the record date of November 13, 2007. The RTS, MICEX and MSE stock exchanges will temporarily suspend trading in Sistema's shares in Russia, pending the registration of the report on the results of the share split by the FFMS.