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Financial Corporation "Sistema"

July 11, 2012

Shareholdings allocated to Sistema Board of Directors

Moscow, Russia- July 11, 2012 - Sistema JSFC ("Sistema" or the "Company") (LSE: SSA), the largest diversified publicly-traded investment company in Russia and the CIS, today announces new allocations to the Sistema Board of Directors' shareholdings in the Company.

In line with the remuneration structure for the members of Sistema's Board of Directors, shareholdings in the Company of seven members have been increased by 122,191 shares and by 127,808 shares for each of three other board members (one of whom is receiving shares for the first time). Each allocation represents approximately 0.0013% of the 9,650,000,000 total shares issued. Based on the closing GDR price on the London Stock Exchange as of July 10, 2012 of US$ 18.80 per GDR, this equates to an indicative value of approximately US$ 1.164 million.

- Chairman of the Board Vladimir Evtushenkov's shareholding in the Company has increased from 64.1830% to 64.1843%;

- Deputy Chairman of the Board Alexander Goncharuk's shareholding in the Company has increased from 1.0019% to 1.0032%;

- Independent Director Evgeny Novitsky's shareholding in the Company has increased from 1.9912% to 1.9925%;

Director Dmitry Zubov's shareholding in the Company has increased from 0.9751% to 0.9764%;

- Director Vyacheslav Kopiev's shareholding in the Company has increased from 0.0556% to 0.0569%;

- Independent Director Roger Munnings's shareholding in the Company has increased from 0.0009% to 0.0022%;

- Independent Director Robert Kocharyan's shareholding in the Company has increased from 0.0019% to 0.0032%;

- Independent Director Serge Tchuruk, who previously did not hold any shares, was awarded 0.0013% of the outstanding share capital;

- Executive Director Mikhail Shamolin's shareholding in the Company has increased from 0.0326% to 0.0339%;

- Independent Director David Yakobashvili's shareholding in the Company has increased from 0.0018% to 0.0031%.

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.

 

 

 

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