Moscow, Russia – January 23, 2012 – Sistema JSFC (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that within the framework of its previously announced Long-Term Incentive Programme, which was approved by the Board of Directors of Sistema in September 2010, approximately 1% of ordinary shares of Sistema’s charter capital has been granted to certain members of management and of the Board of Directors of Sistema.

The participants are generally free to dispose of their shares at their discretion, subject to certain rules, restrictions and notification requirements imposed by Russian and UK legislation and Sistema’s insider trading policies.