Moscow, Russia – September 16, 2009 – Sistema (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies operating in different industries, today announced that it has submitted a mandatory offer to the Federal Financial Markets Service (“FFMS”) to acquire minority shares in ANK Bashneft JSC, in accordance with the Russian Federal Law on Joint Stock Companies.

Sistema acquired a controlling stake in ANK Bashneft JSC in April 2009.  According to the Russian legislation, Sistema is required to make a mandatory buyout offer to minority shareholders in Bashneft. The details of the offer will be published following the receipt of the approval from FFMS.