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March 26, 2007

SITRONICS JSC Announces New Appointment

Moscow, 23rd March 2007 - JSC SITRONICS (LSE: SITR) announces new appointment. Mr. Nihad Hurem, who had earlier been the head of SITRONICS Telecommunication Solutions business division, was appointed First Vice President for New Products and Services of JSC SITRONICS.

The President of JSC SITRONICS Evgeny Utkin said, "Operations in R&D area are currently the priority for our Company. Our research units are working at present in Moscow, Athens, Prague, Novosibirsk and other cities. The Company strives for centralization of developers' teams operations to make our perspective products and services more competitive in international markets. Mr. Hurem is a unique candidate: he is a generally reputed specialist in telecom equipment and services field and has a wide experience of managing international projects. We are confident that SITRONICS will succeed in centralization of all its research and technical policy in R&D under his management in a short time".

In his turn, Nihad Hurem noted, "Our employees possess high qualification required for competition in global markets. Now we need to consolidate the intellectual capital accumulated in our markets. In my new office I have to ensure coordination of established multinational teams working on new technological solutions."

Curriculum Vitae

Mr. Hurem graduated from the Belgrade University in 1997 with a degree in electrical engineering. He worked in engineering and research divisions for Yugoslavian Television and UNIS Company in 1980s.

From 1989 to 1992, he was a co-owner and head of GRAD, a private company in Sarajevo, Bosnia and Herzegovina, was developing and manufacturing systems for telecommunication equipment data gathering. The company ceased to exist because of the civil war in former Yugoslavia. In 1993 Mr. Hurem, jointly with partners, founded STROM telecom in Czech Republic (currently renamed into SITRONICS Telecom Solutions Czech Republic) and was the General Director of the Company since the moment of its foundation. In 2006, following acquisition of 51% of shares in INTRACOM Telecom by JSC SITRONICS, he was also became the Head of SITRONICS Telecommunication Solutions business division.

For further information please contact:

Elena Sanarova,
Vice President,
Head of Public Relations Department
Tel: 7 495 225 0030
Email: sanarova@sitronics.com

Alexander Boreyko,
Investor Relations Director
+7 495 225-98-26
+7 916 105-83-35
Email: ir@sitronics.com

ABOUT SITRONICS

SITRONICS is a leading provider of telecommunication solutions, including software, equipment and systems integration, IT solutions and microelectronic solutions in Russia and the Commonwealth of Independent States with a strong presence in Central and Eastern Europe and a growing presence in the Middle East and Africa.

SITRONICS serves over 3,500 clients, maintains offices in 29 countries and exports its products and services to more than 60 countries. SITRONICS has over 10,000 employees of which approximately 4,500 are involved in research and development.

SITRONICS' key Telecommunication Solutions operations are based in Prague, Czech Republic and Athens, Greece, while the company's IT Solutions and Microelectronic Solutions divisions are based in Kiev, Ukraine and Zelenograd, Russia respectivelly.

For the nine months ended 30 September 2006, SITRONICS's revenues and OIBDA were $1,050 million and $114.7 million, respectively. As of 30 September 2006, SITRONICS had total assets of approximately $1.6 billion.

SITRONICS is majority owned by Sistema, a leading diversified holding company in Russia and CIS.

SITRONICS has developed strategic alliances in its home markets with Cisco Systems, STMicroelectronics, Infineon and Giesecke & Devrient in relation to certain products and services. SITRONICS has vendor relationships with Siemens, Ericsson, Motorola, ORACLE, Intel, Sun Microsystems and Microsoft. Key customers include Sistema group companies, such as MTS, Comstar UTS and MTT, and also OTE, Cosmote, Vodafone, Ericsson, Arcelor Mittal (formerly Mittal Steel), Banca Intesa and TCL of China.

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