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Financial Corporation "Sistema"

January 25, 2005

Sistema announces price range for Initial Public Offering

Moscow, January 25, 2004 – Sistema, the largest private sector consumer services company in Russia and the CIS,today announced the preliminary price range for its initial public offering of 79.6 million Global Depositary Receipts (GDRs), with fifty GDRs representing one common share in the company.  The price range has been set at between US$ 15 and US$ 19.5 per GDR, which is equivalent to between US$ 750 and US$ 975 per common share.  Sistema has applied to the UK Listing Authority for its GDRs to be admitted to trading on the London Stock Exchange. 

 

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For further information, please visit www.sistema.ru or contact:

 

Sistema Investor Relations                                                        Shared Value Limited

Andre Bliznyuk                                                                         Matthew Hooper

Tel: +7 095 730 1543                                                              Tel. +44 (0) 20 7321 5023

bliznyuk@sistema.ru                                                                 sistema@sharedvalue.net

 

 

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Sistema is the largest private sector consumer services company in Russia and the CIS, with over 35 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, insurance, banking, real estate, retail and media. Founded in 1993, the company reported revenues of US$ 4.1 billion for the first nine months of 2004 and total assets of more than US$ 7.7 billion as at September 30, 2004.  Sistema’s shares are listed under the symbol “AFKS” on the ‘B’ list of the Russian Trading System (RTS) and under the symbol “CUCT” on the ‘B’ list of the Moscow Stock Exchange (MSE).

 

 

 

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