Sistema (LSE: SSA), the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector, today announced the launch of movie and TV production at Russian World Studio (RWS) in St Petersburg.
RWS is a subsidiary of Sistema and one of the leading Russian film and TV production companies.
The construction of the first phase of movie production facilities in St Petersburg was completed in July 2008 with a total investment of US$ 100 million. The total production studio space encompasses 11,000 square metres, including 6 shooting stages, Dolby Premier dubbing suite, 8 video editing suites, 3 sound editing suites, 2 dubbing suites and a rerecording suite. Sistema plans to build the largest shooting stage in Europe with 2,000 square metres of space, including full service production facilities for movies and TV programmes.
The production studio currently has an annual capacity to shoot 20 projects, including up to 7 movies and TV series simultaneously. RWS has presently in production 3 movies as well as programmes for 5 channels of Stream-TV.
For further information, please visit www.sistema.com
Sistema is the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector and has over 100 million customers. Sistema develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, banking, real estate, retail, media, tourism and healthcare. Founded in 1993, the company reported unaudited revenues of US$ 4.3 billion for the second quarter of 2008, and total assets of US$ 32.7 billion as at June 30, 2008. Sistema’s shares are listed under the symbol “SSA” on the London Stock Exchange, under the symbol “AFKS” on the Russian Trading System (RTS), under the symbol “AFKC” on the Moscow Interbank Currency Exchange (MICEX), and under the symbol “SIST” on the Moscow Stock Exchange (MSE).
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sistema. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. In addition, there is no assurance that the new contracts entered into by our subsidiaries referenced above will be completed on the terms contained therein or at all. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.
