Moscow, Russia - September 28, 2012 - Sistema JSFC ("Sistema" or the "Company") (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, notes a press release published by Renaissance Capital (available on the Renaissance Group website), referring to the completion of a competitive process to select a purchaser for a 100% ownership stake in SG-trans OJSC, the Russian market's largest independent provider of specialized railcars for transportation of liquefied petroleum gas (LPG). In line with its strategy to diversify and grow its asset base, Sistema confirms that it has participated in the selective process and submitted the leading bid price of RUB 22.77 billion. As stated in Renaissance Capital's release, the buyer, the price and other material terms of the transaction are subject to approval by order of the Government of the Russian Federation. Any further announcements will be made in due course.

The Company is not an investment company, and is not and will not be registered as such, under the U.S. Investment Company Act of 1940.