Moscow, Russia – August 1, 2005 – Sistema (LSE: SSA), the largest private sector consumer services company in Russia and the CIS, announced today that trading in its ordinary shares commenced last week on the Moscow Stock Exchange (MSE) under the symbol SIST.

Sistema has been included in the ‘B’ List of the MSE since November 2004, but trading liquidity has been limited until recently. Following the start of active trading, Sistema’s ordinary shares have been included in the MSE technical index since last Tuesday, July 26, 2005.