ARMENIAN EX-PRESIDENT NOMINATED FOR SISTEMA BOARD

Interfax
May 28 2009
Russia

Robert Kocharyan, the former president of Armenia, has been nominated
for independent director on the board of AFK Sistema (RTS: AFKS).

Shareholders will elect the new board of directors at the AGM on
June 27.

Sistema President Leonid Melamed and a co-founder of Shyam Telelink,
Rajiv Mehrotra, are candidates for the board for the first time.

Incumbent directors who are candidates including Sistema’s principle
owner, Vladimir Yevtushenkov; company first deputy vice president
Alexander Goncharuk; Dmitry Zubov; Vyacheslav Kopiev; Yevgeny Novitsky;
and independent directors Alexander Gorbatovsky, Ron Sommer and Stephan
Newhouse. The other candidates are Lord Robert Skidelsky and Sistema
vice president Sergei Cheremin.