OREANDA-NEWS. October 12, 2009. Sistema-Hals (HALS), a leading diversified company in the Russian and CIS real estate market, today announces that the Board of Directors voted for appointment of Andrey Nesterenko to the post of Sistema-Hals President since October 14, 2009.

"We are glad to welcome such a professional as Andrey Nesterenko with our team. Mr Nesterenko has deep experience and high professional skills in both development sector and finance. We are confident that Andrey will manage the Company with success and deliver on our challenging targets. Today the key targets of the Company are implementation of our updated strategy and operating program and debt restructuring", - Felix Evtushenkov, Chairman of the Board of Directors commented.

For editors:

Andrey Nesterenko

Born in 1976 in Moscow.

In 1994 Mr Nesterenko graduated from St.Charles College in London and in 1997 - from Moscow Consumer Cooperation University major in economics; ACCA degree.

2003 - 2005 - Chief Financial Officer with Russian office of Bunge Ltd.

2005 - 2007 - Vice-President for Finance at DIXI Group, where he organized financial unit and general business processes, attracted financing, including the IPO of the company.

2007 - 2009 - First Vice-President for Finance, General Director with Capital Group, where he managed commercial real estate division, was engaged in private placement preparation, attracted financing and restructured debt.