BELARUS NEWS AND ANALYSIS
DATE:
13/03/2008
Sistema Signs Partnership Agreement with the Republic of Belarus
MOSCOW--(BUSINESS WIRE)--Sistema (LSE: SSA), the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector, today announced that it has signed a partnership agreement with the Government of the Republic of Belarus.
The agreement was signed by Vladimir Semashko, First Deputy Prime Minister of the Republic of Belarus, and Alexander Goncharuk, President of Sistema. The main goal of the agreement is to attract investments to the Republic of Belarus through the implementation of economically viable and socially significant investment projects in a number of industries. Within the framework of this agreement both parties expect to sign individual agreements between governmental bodies of Belarus and Sistema and its subsidiaries. A Steering Committee has been set up to execute joint projects, and consists of 12 representatives of the Government of the Republic of Belarus and ten representatives of Sistema and its subsidiaries.
Alexander Goncharuk, President and Chief Executive Officer, commented: "We have strong interest in the expansion of the unified economic area of the Russian Federation and Belarus, and a closer integration between Russian and Belarusian companies. We believe that Sistema's experience as a diversified corporation will give us an opportunity to establish efficient partnerships in different industries of the Republic such as real estate, telecommunications, healthcare, retail, banking and high-tech industries."
For further information, please visit www.sistema.com
Sistema is the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector and has over 80 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, banking, real estate, retail and media. Founded in 1993, the company reported revenues of US$ 9.6 billion for the first nine months of 2007, and total assets of US$ 24.2 billion as at September 30, 2007. Sistema's shares are listed under the symbol "SSA" on the London Stock Exchange, under the symbol "AFKS" on the Russian Trading System (RTS), under the symbol "AFKC" on the Moscow Interbank Currency Exchange (MICEX), and under the symbol "SIST" on the Moscow Stock Exchange (MSE).
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sistema. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.
Information contained in this announcement does not constitute a public offer or an advertisement of securities in Russia, is not an offer, or an invitation to make offers, to purchase any securities in Russia. The reverse convertible certificates have not been and will not be registered in Russia and are not intended for "placement" or "public circulation" in Russia.
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