Moscow, Russia – February 8, 2011 – Sistema (the “Group”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in, and is a major shareholder of, companies operating in different industries, today announced that its Board of Directors has convened an Extraordinary General Meeting (“EGM”) of shareholders to approve a related party transaction involving the acquisition of shares in OJSC RTI, a new company established with the participation of the Bank of Moscow. The EGM will be called by proxy with the final date for the receipt of ballots set for March 18, 2011.