Moscow, Russia – 14 February 2005 – Sistema, the largest private sector consumer services company in Russia and the CIS, today announced that its Global Depositary Receipts (GDRs) have been admitted to the UKLA Official List with effect from 08.00 (London local time) on Monday, February 14^th, at the opening of the London Stock Exchange.  Closing and settlement of Sistema’s Initial Public Offering of 79,633,150 GDRs were completed on Friday, February 11^th. 

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Sistema is the largest private sector consumer services company in Russia and the CIS, with over 35 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, insurance, banking, real estate, retail and media. Founded in 1993, the company reported revenues of US$ 4.1 billion for the first nine months of 2004 and total assets of US$ 7.7 billion as at September 30, 2004.  Sistema’s shares are listed under the symbol “AFKS” on the ‘B’ list of the Russian Trading System (RTS) and under the symbol “CUCT” on the ‘B’ list of the Moscow Stock Exchange (MSE).