Moscow, Russia – October 1, 2009 – Sistema (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder in companies operating in different industries, today announced that it has made a mandatory offer of RUB 286.5 per ordinary share to ANK Bashneft JSC to acquire minority shares in the Company. The offer is being made in accordance with the Russian Federal Law on Joint Stock Companies and minority shareholders have 80 days from Bashneft’s receipt of the mandatory offer documentation within which to accept the offer. VTB Group is acting as Guarantor of the transaction.

Sistema acquired a controlling stake in ANK Bashneft JSC in April 2009, and submitted a mandatory offer to the Federal Financial Markets Service on September 15, 2009 to acquire minority shares in ANK Bashneft JSC.