CHANGES IN THE COMPANY'S SHARE CAPITAL

MOSCOW, RUSSIA - 30 December 2009 - Sistema-Hals (LSE, MICEX, RTS: HALS), a major Russian real estate company, announces that AFK Sistema has increased its share in the Company's share capital from 19.45% to 27.6%. The share of Hals Finans CJSC in Sistema-Hals share capital decreased from 8.15% to 0%.

Sistema-Hals ("the Company") is one of the leading diversified company in the Russian and CIS real estate market. 

The Company was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The Company's shares are also listed on the Moscow Interbank Currency Exchange and the Moscow Stock Exchange and the Russian Trading System Stock Exchange.

Main shareholders of Sistema-Hals are Bank VTB (51.24%) and AFK "Sistema" (27.6%); free float is about 18%.

Starting operations in 1994, Sistema-Hals has successfully completed about 40 projects with a total area over 450,000 square metres, including several residential complexes in Kuntsevo, the headquarters of the DaimlerChrysler company, the Hals Tower office building, the headquarters of the Trubnaya Metallurgical Company, the hotel for the MaMaison chain (Orco Property Group). 

Sistema-Hals implements the development of the Leningradsky Towers complex in Moscow; carries out the complex program of redeveloping the facilites of the Moscow City Telephone networks; reconstructs the building of the Central "Detsky Mir" on Lubyanka and fulfils several other projects. 

Sistema-Hals has assembled a balanced and diversified portfolio of assets in fast-growing sectors of the market. The Company's strategy is focused on building Class A and B office space, multifunctional retail and office complexes, business-class residential buildings.

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Some statements  in this press release may contain proposals or forecasts concerining future events or the  OJSC Sistema-Hals. You can identify such statements by the expressions  "it is expected to", "it is believed to", "intend to", "will", "could", "may" or "might", the negative forms of such espressions or other similar expressions. We wish to warn you that these statements are only proposals  and that actual events or results may differ materially. We do not intend to update these statements in order  to reflect real events and circumstances occurring after the date thereof or to reflect the occurrence of unanticipated events.