THURSDAY, 13 JULY 2006

10.00 AM (ET) / 3.00 PM (UK) / 4.00 PM (CET) / 6.00 PM (MOSCOW)

Host:

Andre Bliznyuk - Head of Capital Markets

Speakers:

Alexander Goncharuk - President & Chief Executive Officer

Alexey Buyanov - Senior Vice President, Chief Financial Officer

Alexander Gorbunov - Acting First Vice President, Chief Strategy Officer

To participate in the conference call, please register at: www.sharedvalue.net/sistema/1Q2006

The dial in number to join the conference call will be available upon registration.

You may also contact Shared Value on +44 (0)20 7321 5010 for further details.

The release will be available on Sistema's website at

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