Moscow, Russia - April 15, 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, today announced that it has repaid its US$ 350 million Eurobond issue.

The Eurobond issue was repaid upon its maturity in full using the Company's cash flows and previously obtained debt financing. The 5-year Eurobond issue was placed in April 2003 among a wide range of foreign investors. The proceeds of this issue were used to finance a number of acquisitions in Russia.