SISTEMA TELECOM EYEING CIS ACQUISITIONS

RosBusinessConsulting, Russia
April 10 2006

RBC, 10.04.2006, Yerevan 15:53:15.Sistema Telecom (a Sistema
Corporation subsidiary) is interested in buying telecom assets in
the CIS, including Armenia’s ArmenTel, ARMINFO quoted Sistema’s PR
Director Anna Boyko as saying when asked about Sistema’s prospective
purchase of a 90-percent stake in the Armenian operator from Greece’s
OTE. At the same time she stressed it was still premature to talk of
any specific plans regarding ArmenTel.

OTE management recently issued an official statement about their
intention to sell the stake in the Armenian telecom. Analysts assess
the deal to be worth at least $350m.