Moscow, Russia – April 14, 2009 - Sistema-Hals (LSE, MICEX, RTS: HALS), a major Russian real estate company, announced today that it has completed the placement of its rouble bonds in the amount of 3 million securities with par value 1 000 roubles each. The bonds mature in 2014.

Lead manager of the bond issue is ZAO Raiffeisenbank. Upon the placement the coupon rate is 15%. The rouble bonds were fully placed at par value.

Secondary bond circulation is planned on MICEX.

The Company is going to restructure its debt with the raised funds.