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Financial Corporation "Sistema"

March 12, 2010

MTS India provides the web-conference for Russian Prime Minister

Moscow, Russia – March 12, 2010 – Today Russian Prime Minister Vladimir Putin has visited Sistema (LSE: SSA) Office in New Delhi during his official visit to India. There he has held web-conference with the Indian public, including businessmen, artists and members of Voice of Russia Audience Club in Mumbai, Kolkata and Bangalore. Mr. Putin has discussed with them the ways of further development of Russian-Indian cooperation in various spheres.

The Web-conference has been implemented on the basis of mobile communication network structures deployed by Sistema Shyam TeleServices, a Sistema JSFC subsidiary providing its services under MTS brand. Sistema is the first Russian company developing the large-scale green field project in India. This Sistema’s project is the first multi-billion Russian-Indian project at the Indian consumer market. Sistema plans to invest about USD 2.3 billion as the project CAPEX.

Sistema Shyam TeleServices provides CDMA2000 mobile communication services in India since September 30, 2008. By now the Company is servicing more than 3 million subscribers in Rajasthan, Tamil Nadu (including Chennai), Kerala, Kolkata, West Bengal, Bihar (including Jharkhand), Deli, Karnataka, Mumbai, Haryana and Maharashtra (including Goa). Moreover, the Company provides MBlaze high-speed Web access service for subscribers in 24 largest Indian cities.

JSFC Sistema has become the first Russian private company that established its office in India: the Corporation got official permit to open its office on January 4, 2007. Now companies of JSFC Sistema Group operate in various segments of the Indian market besides telecom services.

In April 2009, Sitronics OJSC (a JSFC Sistema Group company), one of the leading suppliers of telecom, IT and microelectronics solutions in Russia and CIS, established its Indian subsidiary - Sitronics India. The company has already began to supply RUIM-cards (a SIM-card counterpart in CDMA networks) to Sistema Shyam TeleServices (under about USD 3 million 2009 contract), as well as executed 3-year USD 64.2 million contract with the operator on supplying, implementing and maintaining CRM & Billing System.

Sistema JSFC has signed the MOU with ONGC Videsh Ltd (OVL), the largest oil and gas Indian corporation. The MOU was signed in Moscow at the meeting of the Russian-Indian Company Managers Board hold during Indian PM Manmohan Singh visit in Russia. The document provides for possible cooperation of the parties in oil and gas industry, including joint hydrocarbon resources exploration and production activities, as well as possible acquisition of oil and gas industrial assets in Russia and other countries.

Strategic plans of Sistema in the Indian market include construction of emergency control centers, deployment of on-shore economic zone monitoring systems, Safe City municipal security systems and implementation of advanced GLONASS satellite navigation system technologies. JSFC Sistema is also considering educational projects.




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