OREANDA-NEWS. On 25 March 2008 was announced, that public offering of rate inconvertible documentary bearer bonds of OJSC “AFK “Sistema” with obligatory centralized custody ( state registered number 4-01-01669-A as of 21 February 2008) took place at Moscow Central Stock Exchange on 13th March 2008 at the price equal to the 100% nominal value. The bond maturity is 5 years. The rate of the first coupon is 9,45% annual. The bond yield for the first period is estimated at 282 720 000rubles and 47,12 rubles for one bond. Guarantee - OJSC “ AFK “Sistema”.

Lead arrangers of bond issuance: VTB, Rosbank.

Underwriters of bond offering: Bank Petrokommertz, FK Uralsib, Promsvyzbank.

Co-underwriters of bond offering: Renessans Capital, Bank Zenit, Kommerzbank, Transcapitalbank, Absolut Bank, Alfa-bank, Alians Rosno, IK Kapital, MDM-Bank, Homos-Bank, ORGRESBANK, Raiffaisenbank, Bank Rossiyskiu Kredit, Bank Souz, Mezhdunarodniy Bank Saint-Peterburg, Evrofinans, Mosnarbank.

Participant of bond placement: Dresdner Bank.

OJSC “ AFK “Sistema” has long-term international ratings BB-( positive)/Ba3(positive)/BB-(stable) of rating agencies S&P/Moody’s/Fitch accordingly.

Bond offering of OJSC “ AFK “Sistema” will enter Quoting List “B” of CJSC “ FB Moscow Central Stock Exchange”.