Sistema Obtains Radio Frequencies in Four Additional Circles in India

Business Wire,  June 18, 2008  

• E-mail
• Print
• Link

MOSCOW -- Sistema (LSE:SSA), the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector, today announced that Shyam Telelink Ltd. (Shyam Telelink) has received radio frequencies under CDMA 800 MHz in four additional Indian circles. As a result, Shyam Telelink now has spectrum in 19 telecommunications circles.

The Department of Telecommunications of India has allocated the CDMA 800 MHz radio frequencies to Shyam Telelink, Sistema's subsidiary, in four Indian circles, Gujarat, Karnataka, Kolkata and Orissa, which comprise 14.1% of Indian population (159.6 million people). Altogether Shyam Telelink now has spectrum in 19 telecommunications circles, covering 27 Indian states with a population of 1,066.5 million people (which comprise around 94.5% of Indian population).

For further information, please visit www.sistema.com

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 100 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, banking, real estate, retail, tourism, healthcare 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).

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sistema. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.

Information contained in this announcement does not constitute a public offer or an advertisement of securities in Russia, is not an offer, or an invitation to make offers, to purchase any securities in Russia. The reverse convertible certificates have not been and will not be registered in Russia and are not intended for "placement" or "public circulation" in Russia.

COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning