Moscow, Russia - February 7, 2008 - Sistema (LSE: SSA), the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector, notes that the reports in today's press, following the posting by the Federal Financial Markets Service ("FFMS") of a document regarding an offer by Sistema for URALSIB Bank, have no ground. The erroneous posting has been corrected by the FFMS and the correction can be found on www.fcsm.ru/document.asp?ob_no=82194.