Moscow, Russia – December 6, 2011 – Sistema JSFC (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that it has signed a cooperation agreement with OJSC RTI and the not-for-profit Foundation for Development of the Centre of Research and Commercialising of New Technologies (the “Skolkovo Foundation”).

The agreement, which is not legally binding on the participants, is intended to promote long-term strategic cooperation between Sistema and the Skolkovo project, facilitating the further development of Sistema’s high-tech assets.

In accordance with the agreement, RTI, Sistema’s subsidiary specializing in innovative and high-tech sectors, will participate in a development programme for the Skolkovo project to implement joint high-tech initiatives. In particular, the parties to the agreement anticipate that by 2015 an RTI R&D unit will be established in Skolkovo with a budget of up to               RUB 1 billion. RTI will also participate in the formation of a fund for the benefit of Skolkovo Institute of Science and Technology (SIST).

The parties of the agreement also plan to create an RTI corporate venture capital fund with a budget of up to RUB 1 billion to invest in start-up companies which have been designated as Skolkovo Participants during 2012-2015. Skolkovo Participants will also be able to utilise the facilities and infrastructure of Sarov, Sistema’s technology park, on favourable terms.