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Financial Corporation "Sistema"

January 22, 2010

Sistema sells controlling stake in Bashkirnefteprodukt to Bashneft

Moscow, Russia – January 22, 2010 – Sistema (the “Group”) (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 the sale of its equity stake in Bashkirnefteprodukt (56.11%) to ANK Bashneft JSC (“Bashneft”). On January 4, 2010, Sistema sold controlling stakes in four other Bashkir oil companies to Bashneft. The objective of these transactions is to create a vertically integrated oil group.

 

 

 

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