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Thursday, June 22, 2007
SITRONICS and WATEEN TELECOM sign agreement for delivery of FORIS NG Billing and Customer Care
MOSCOW, Russia - June 22, 2007 - JSC SITRONICS ("Sitronics" or "Company") (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS with a growing presence in other EEMEA emerging markets, today announced that it has signed a US$ 7 million agreement with WATEEN TELECOM, the largest private sector communication company in Pakistan, to provide SITRONICS' flagship product, FORIS NG Billing and Customer Care, in Pakistan.
Within the framework of the contract, SITRONICS will provide its integrated FORIS NG Billing and Customer Care product, along with a number of network management solution products, enabling WATEEN TELECOM to expand its offerings in the local market. The project includes a 3-year managed services operation.
Mr. Igor Hulak, President of SITRONICS Telecommunication Solutions, commented: "The Middle Eastern and Asian telecommunications markets are two of the most rapidly growing in the world, prompting local operators to continuously enhance their network reach, quality and efficiency. We are confident that WATEEN Telecom will benefit from SITRONICS's expertise in the field of OSS/BSS integration, especially in the billing and customer care domain, by having a product which will allow the Company to cater for its billing, CRM and management reporting needs. Recognizing the high potential and ever-increasing requirements of the local market, SITRONICS has established strong partnerships with major regional service providers and recently opened its subsidiary in Lahore."
Tariq Malik, Chief Executive Officer of WATEEN TELECOM, commented: "WATEEN TELECOM is building one of the most innovative, high performing and high availability IP-based communication networks in the country and abroad, offering IP-based quad-play (voice, video, data and mobility) services to business and residential customers. Our choice of SITRONICS as our partner in local and international projects was based on its expertise in providing complete integration and operational services, as well as on its experience in the deployment of large scale complex projects in the region. Our growth and variety of services will demand scalability and shorter time-to-market, which is a promise that we are confident SITRONICS will fulfil with excellence."
For further information, please visit www.sitronics.com or contact:
SITRONICS
Alexey Tischenko, Head of Capital Markets
Tel: +7 495 221 4943
ir@sitronics.com
Elena Sanarova, Public Relations
Tel : +7 495 225 0030
Sanarova@sitronics.com
Shared Value Limited
Investor Relations
Matthew Hooper
Tel. +44 (0) 20 7321 5010
sitronics@sharedvalue.net
WATEEN TELECOM is the largest private sector communication company in Pakistan, offering a complete range of carrier-class, telecom and multimedia services, such as fixed and wireless telephony, data and internet, TV and multimedia, while hosting other value-added services and applications to enhance the productivity of business customers and individual consumers. WATEEN is the first company to undertake a countrywide deployment of WiMAX network in Pakistan, covering over 500 cities and towns, supported by a 5,000+ km deployment of long haul optic fiber network, and deployment of optic fiber network in 20 cities of Pakistan.
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 30 countries and exports its products and services to more than 60 countries. SITRONICS has over 10,000 employees of whom approximately 4,600 are involved in research and development.
SITRONICS's 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 respectively.
For the twelve months ended December 31, 2006, SITRONICS's revenues and OIBDA were US$ 1.61 billion and US$ 183.6 million, respectively. As of 31 December 2006, SITRONICS had total assets of US$ 1.65 billion. SITRONICS is majority owned by Sistema, the largest 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, as well as OTE, Cosmote, Vodafone, Ericsson, Arcelor Mittal (formerly Mittal Steel) and TCL.
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