AFK Sistema — Director's Dealing 2015

Jan 13, 2015

	1.	Name of the issuer:	2.	No	tification relates	to a transactio	n
				notified in accordance with the DTR 3.1.
		SistemaJointStockFinancial
		Corporation
		f dihi il	4	hh ifii l
	3.	Name o person scargng managera	.	State weter notcaton reates to a person
		responsibilities/director		connected with a person discharging
				managerial responsibilities/director named in
		Mr. Mikhail Valerievich Shamolin
		,		3 and identify the connected person:No
		CEO, Chairman of the Management
		Board, Member of the Board of
		Directors of Sistema JSFC
	5.	Notification is made in respect of a	6.	Description of shares (including class),
		holding of the person referred to in 3		debentures or derivatives or financial
		above		instruments relatin to shares:
				g
				Ordinary registered shares of Sistema
				Joint Stock Financial Cororation
				p
	7.	Name of registered shareholders(s) and,	8.	State the nature of the transaction:
		if more than one, the number of shares		shares granted
		hld b h f th
		e y eac o em:
		Mr. Mikhail Valerievich Shamolin
	9.	Number of shares debentures or	10.	Percentage of issued class acquired (treasury
		,
		financial instruments relating to sharesacquired:granted 3,613,898 shares		shares of that class should not be taken intoaccount when calculating percentage):0.0374%
	11.	Number of shares, debentures orfinancial instruments relating to sharesdisposed:Not applicable	12.	Percentage of issued class disposed (treasuryshares of that class should not be taken intoaccount when calculating percentage):Not applicable
	13.	Price per share or value of transaction 1:RUB 6.72	14.	Date and place of transaction:December 29, 2014Moscow, Russian Federation
	15.	Total holding following notification andtotal percentage holding followingnotification (any treasury shares shouldnot be taken into account whencalculating percentage):12,786,398 shares(0.1325%)	16.	Date issuer informed of transaction:January 13, 2015

If a person discharging managerial responsibilities has been granted options by the issuer then complete the following boxes

17.	Date of grant:Not applicable	18.	Period during which or date on whichexercisable:Not applicable
19.	Total amount paid (if any) for grant ofthe option:Not applicable	20.	Description of shares or debentures involved(class and number):Not applicable
21.	Exercise price (if fixed at time of grant)or indication that price is to be fixed atthe time of exercise:Not applicable	22.	Total number of shares or debentures overwhich options held following notification:Not applicable
23.	Any additional information:None	24.	Name of contact and telephone number forqueries:Mr. Evgeniy ChuikovTel.: +7 (495) 692 1100ir@sistema.ru

Name of authorized official of issuer responsible for making notification: Mr. Evgeniy Chuikov – Head of IR of Sistema Joint Stock Financial Corporation

Date of notification: January 13, 2015

Signature of _______________ /____________________/ Sistema Joint Stock Financial Corporation