Moscow, January 25, 2004 – Sistema, the largest private sector consumer services company in Russia and the CIS,today announced the preliminary price range for its initial public offering of 79.6 million Global Depositary Receipts (GDRs), with fifty GDRs representing one common share in the company. The price range has been set at between US$ 15 and US$ 19.5 per GDR, which is equivalent to between US$ 750 and US$ 975 per common share. Sistema has applied to the UK Listing Authority for its GDRs to be admitted to trading on the London Stock Exchange.
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Sistema Investor Relations Shared Value Limited
Andre Bliznyuk Matthew Hooper
Tel: +7 095 730 1543 Tel. +44 (0) 20 7321 5023
bliznyuk@sistema.ru sistema@sharedvalue.net
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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 more than 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).
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