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Financial Corporation "Sistema"

February 16, 2010

Sistema EGM approves its participation in an investment agreement with RUSNANO

Moscow, Russia – February 16, 2010 – 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 the Extraordinary General Meeting of shareholders (“EGM”) has approved Sistema’s participation in an investment agreement to launch full-scale 90 nanometre microchip production in Russia. Sistema signed the agreement with the Russian Corporation of Nanotechnologies (“RUSNANO”), AMEX, SITRONICS and SITRONICS subsidiaries: “SITRONICS-Nano” and “NIIME and Mikron”, which are part of SITRONICS’ Microelectronics business division. SITRONICS-Nano LLC, a subsidiary of SITRONICS, was established for the purposes of operating this project.

The EGM was convened and votes were cast remotely via a proxy system. February 8, 2010 was the final date for the receipt of ballots. The EGM quorum reached 77.74% of the total number of eligible voters.

 

 

 

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