CAPITAL MARKETS DAY ______FRIDAY, 30 Th MAY at ONE GREAT GEORGE STREET, LONDON

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CAPITAL MARKETS DAY ______FRIDAY, 30 Th MAY at ONE GREAT GEORGE STREET, LONDON CAPITAL MARKETS DAY ____________________________________________________________________________ FRIDAY, 30 th MAY AT ONE GREAT GEORGE STREET, LONDON Sistema (LSE: SSA), the largest diversified corporation in Russia and the CIS, is pleased to invite you to the Capital Markets Day, which will be held at the One Great George Street, Westminster, London SW1P 3AA, on Friday 30 th May, 2008. The conference will comprise presentations on a range of strategic, operational and financial aspects of the Group’s businesses, as well as a number of group and one-on-one meetings with the management of Sistema and its public and non-public businesses. Registration will take place at the One Great George Street, Westminster, London SW1P 3AA, starting from 8:30am. The conference will commence at 9:00am followed by lunch, group and one-on-one meetings from 2:00pm till 7:00pm. The detailed schedule for the day is attached. To register for the event by email to: [email protected] . You may also register by filling out the information below and returning it by fax to +44 (0)207 321 5020 or contact Shared Value on +44 (0)20 7321 5010 for further details. NAME: COMPANY: FUNCTION: SECTOR / COVERAGE: MOBILE PHONE: EMAIL: Yes, I will participate in the Capital Markets Day in London on Friday 30 th May, 2008 I am unable to attend the Capital Markets Day Please remove my name from the Sistema mailing list I would like to participate in group meetings with * If you would like to participate in group meetings, please provide the name of the company you would like to meet: _____________________________________________________________________________ *Sistema may not be able to guarantee a meeting slot as availability is subject to demand Sistema is the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector and has over 80 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, banking, real estate, retail and media. Founded in 1993, the company reported unaudited revenues of US$ 13.7 billion for the full year of 2007, and total assets of US$ 28.4 billion as at December 31, 2007. Sistema’s shares are listed under the symbol “SSA” on the London Stock Exchange, under the symbol “AFKS” on the Russian Trading System (RTS), under the symbol “AFKC” on the Moscow Interbank Currency Exchange (MICEX), and under the symbol “SIST” on the Moscow Stock Exchange (MSE). CAPITAL MARKETS DAY FRIDAY, 30 TH MAY AT THE ONE GREAT GEORGE STREET, LONDON SISTEMA REPRESENTATIVES Vladimir Evtushenkov Chairman of the Board of Directors Vyacheslav Kopiev Deputy Chairman of the Board of Directors Dmitry Zubov Deputy Chairman of the Board of Directors Alexander Goncharuk President & CEO Ron Sommer Independent Director Stephen Newhouse Independent Director Evgeny Novitsky Director Anton Abugov First Vice President, Head of Strategy and Development Vitaly Saveliev First Vice President, Head of telecommunications asset management division Alexey Buyanov Senior Vice President, CFO Sergey Cheremin Vice President, Head of External Relations Sergey Boyev Vice President for Development of State Programmes and Non- Public Assets Anna Goldin Vice President and General Counsel Denis Muratov Vice President, Head of Innovations GennadyFrolov Head of Corporate Communications BUSINESS SUBSIDIARIES REPRESENTATIVES Leonid Melamed President & CEO, MTS Sergey Pridantsev President & CEO, Comstar UTS Felix Evtushenkov President & CEO, Sistema-Hals Sergey Aslanian President & CEO, Sitronics MaximYentyakov CEO, Detsky Mir Sergey Zaytsev Chairman of the Management Board, MBRD Eldar Razroyev CEO, Sistema Mass Media Vladimir Gurdus President, MedSi Alexander Arutyunov President, Intourist Sistema is the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector and has over 80 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, banking, real estate, retail and media. Founded in 1993, the company reported unaudited revenues of US$ 13.7 billion for the full year of 2007, and total assets of US$ 28.4 billion as at December 31, 2007. Sistema’s shares are listed under the symbol “SSA” on the London Stock Exchange, under the symbol “AFKS” on the Russian Trading System (RTS), under the symbol “AFKC” on the Moscow Interbank Currency Exchange (MICEX), and under the symbol “SIST” on the Moscow Stock Exchange (MSE). JSFC SISTEMA, CAPITAL MARKETS DAY PROGRAMME ___________________________________________________________________________________ 08.30 - 09.00 Registration Session I: JSFC Sistema overview Speakers 09.00 - 09.10 Introduction of Management Team 09.10 - 09.25 Opening speech V. Evtushenkov 09.25 - 09.40 Sistema’s Operational Overview A. Goncharuk 09.40 - 09.55 Sistema’s Strategy Overview A. Abugov 09.55 - 10.10 Sistema’s Financial Overview A. Buyanov 10.10 - 10.40 Q&A 10.40 - 11.00 Coffee break Session II: Non-public Businesses Speakers Host – Anton Abugov 11.05 - 11.20 MBRD S. Zaytsev 11.20 - 11.35 Detsky Mir M. Yentyakov 11.35 - 11.50 Intourist A. Arutyunov 11.50 - 12.05 Medsi V. Gurdus 12.05 - 12.20 RTI Systems S. Boyev 12.20 – 13.00 Q&A 13.00 - 14.00 Lunch Session III: TMT Speakers Host – Vitaly Saveliev 14.00 - 14.15 MTS L. Melamed 14.15 - 14.30 Comstar UTS S. Pridantsev 14.30 - 14.45 Sistema Mass-Media E. Razroyev 14.45 - 15.15 Q&A Sistema is the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector and has over 80 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, banking, real estate, retail and media. Founded in 1993, the company reported unaudited revenues of US$ 13.7 billion for the full year of 2007, and total assets of US$ 28.4 billion as at December 31, 2007. Sistema’s shares are listed under the symbol “SSA” on the London Stock Exchange, under the symbol “AFKS” on the Russian Trading System (RTS), under the symbol “AFKC” on the Moscow Interbank Currency Exchange (MICEX), and under the symbol “SIST” on the Moscow Stock Exchange (MSE). GROUP MEETINGS 13.50 - 16.50 • Sistema A. Abugov A. Buyanov G. Frolov • Sistema-Hals F. Evtushenkov A. Solovyev A. Klimenko • Sitronics S. Aslanian D. Ivanov • Shyam Telelink V. Saveliev S. Kurmashov • MBRD S. Zaytsev D. Ladikov-Royev • Detsky Mir M.Yentyakov A. Kurach • Intourist A. Arutyunov M. Zabolotneva • Medsi V. Gurdus M. Uvarov • RTI Systems S. Boyev K. Poltevsky 15.15 - 18.50 • MTS L. Melamed V. Rozanov A. Terebenin J. Tulgan • Comstar UTS S. Pridantsev I. Matveeva • Sistema Mass-Media E. Razroyev O. Kovalevskay Sistema is the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector and has over 80 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, banking, real estate, retail and media. Founded in 1993, the company reported unaudited revenues of US$ 13.7 billion for the full year of 2007, and total assets of US$ 28.4 billion as at December 31, 2007. Sistema’s shares are listed under the symbol “SSA” on the London Stock Exchange, under the symbol “AFKS” on the Russian Trading System (RTS), under the symbol “AFKC” on the Moscow Interbank Currency Exchange (MICEX), and under the symbol “SIST” on the Moscow Stock Exchange (MSE). .
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