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Financial Corporation "Sistema"

June 5, 2009

Nokia Siemens Networks enters into strategic partnership with Sistema

Saint-Petersburg, June 5, 2009 – Today at the St. Petersburg International Economic Forum 2009 Nokia Siemens Networks, a leading global enabler of telecommunications services, and Sistema JSFC, the largest public diversified financial corporation in Russia and the CIS, have concluded strategic partnership agreement in the field of innovative telecommunication technologies. Within the framework of the agreement, Nokia Siemens Networks and Sistema JSFC intend to set up a coordination committee and working groups, which will operate in the following areas: radio technologies, data transport technologies and automated billing systems.

The resolution on signing a strategic partnership agreement was taken during the meeting of Vladimir Evtushenkov, the Chairman of the Board of Directors of Sistema JSFC, and Simon Beresford-Wylie, the CEO of Nokia Siemens Networks, which was held on May 12 in Finland. In the course of the negotiations the current and perspective issues of cooperation between the companies were discussed, as well as opportunities for implementation of joint projects in Russia and the CIS both in the field of telecommunications and in the high-tech field. The parties acknowledged their satisfaction with the current level of the companies’ interaction, and scheduled a number of new steps aimed at the expansion of mutually rewarding commercial activities in the R&D sphere.

“The business philosophy of Sistema JSFC includes investing in such rapidly growing business areas in Russia and other CIS countries as telecommunications and high-tech. We are glad to continue cooperation in the field of innovative telecommunication technologies with our  longstanding partner Nokia Siemens Networks,” noted Vladimir Evtushenkov, the Chairman of the Board of Directors of Sistema JSFC.

“During more than ten years of successful cooperation with Sistema JSFC, Nokia Siemens Networks has proved its high proficiency in implementation of a number of projects. We are very pleased that by signing this strategic partnership agreement Sistema JSFC demonstrates its trust and confidence in the long-term partnership with Nokia Siemens Networks,” said Simon Beresford-Wylie, the CEO of Nokia Siemens Networks. “We are convinced that our cooperation will contribute to the further development of partner relationship which is really valuable for both our companies.”




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