24th Oct 2006 07:45
SISTEMA COMPLETED PURCHASE OF COMPANY STOCK Moscow, Russia - October 24, 2006 - Sistema (LSE:SSA), the largest privatesector consumer services company in Russia and the CIS, announced today that ithas completed the purchase of 2% of its stock, which constitutes a total of193,000 ordinary shares, in the amount of approximately US$ 239 million. Thepurchase was completed through Sistema Finance, one of Sistema's subsidiaries. As announced earlier, Sistema is establishing a share option programme for thetop management of the Company. The acquired shares are intended for the fundingof this programme and may also be used in connection with certain futureacquisition activity. For further information, please visit www.sistema.com or contact: \* TSistema Investor Relations Shared Value LimitedVictor Kurilo Matthew HooperTel: +7 495 629 2741 Tel. +44 (0) 20 7321 [email protected] [email protected]\* T Sistema is the largest private sector consumer services company in Russia andthe CIS, with over 65 million customers. Sistema develops and managesmarket-leading businesses in selected service-based industries, includingtelecommunications, technology, insurance, banking, real estate, retail andmedia. Founded in 1993, the company reported revenues of US$4.6 billion for thefirst half of year 2006, and total assets of US$ 17.3 billion as at June 30,2006. Sistema's shares are listed under the symbol "SSA" on the London StockExchange, under the symbol "AFKS" on the Russian Trading System (RTS), and underthe symbol "SIST" on the Moscow Stock Exchange (MSE). Some of the information in this press release may contain projections or otherforward-looking statements regarding future events or the future financialperformance of Sistema. You can identify forward looking statements by termssuch as "expect," "believe," "anticipate," "estimate," "intend," "will,""could," "may" or "might" the negative of such terms or other similarexpressions. We wish to caution you that these statements are only predictionsand that actual events or results may differ materially. We do not intend toupdate these statements to reflect events and circumstances occurring after thedate hereof or to reflect the occurrence of unanticipated events. Many factorscould cause the actual results to differ materially from those contained in ourprojections or forward-looking statements, including, among others, generaleconomic conditions, our competitive environment, risks associated withoperating in Russia, rapid technological and market change in our industries, aswell as many other risks specifically related to Sistema and its operations. Copyright Business Wire 2006Related Shares:
SSA.L