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News in Brief

Monday, 4 February 2008

SITRONICS announces appointement of new Head of Telecom Solutions Division

MOSCOW, Russia - February 4, 2008 - JSC SITRONICS ("SITRONICS" or "The Company") (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, today announced the appointment of Pavel Pavlovsky as Vice President, Head of SITRONICS' Telecom Solutions Division. Mr. Pavlovsky previously held the position of General Director of MTS-Ukraine.

Mr. Pavlovsky will be responsible for centralisation of the management teams of SITRONICS' subsidiaries in Greece, Czech Republic and Russia, as well as the optimisation of marketing efforts in the Company's developing regions.

Sergey Aslanyan, President and Chief Executive Officer of SITRONICS, commented: "Pavel will focus his efforts on strengthening the overall corporate function and streamlining the interactions of our subsidiaries across country lines. He will also be responsible for driving and managing large projects in our fastest growing geographic and vertical markets. We are well positioned to successfully promote our modern packages of products and services, which we have developed in partnership with global technological leaders. As a dynamic multinational company, we intend to significantly increase our presence in developing regions and Pavel will be instrumental in these efforts."

Pavel Pavlovsky, Vice President, Head of SITRONICS' Telecom Solutions Division, added: "SITRONICS has a highly competitive portfolio of products and the Company has successfully implemented impressive projects in many countries. I am confident that there will be great demand for SITRONICS' modern telecommunications solutions from the major mobile operators and other companies."

Mr. Pavlovsky was born on December 11, 1969, in Leningrad, Russia. From 2007 to 2008, he served as Vice President of "MTS-Ukraine" and "MTS-Foreign Subsidiaries".

From 2005 to 2007, he served as Director of"MTS-Foreign Subsidiaries". From 2003 to 2005, he served as Director of Corporate Development department at MTS. From 2002 to 2003, Mr. Pavlovsky worked as an independent consultant. From 2000 to 2002, he was a Senior Consultant at Mercer Management Consulting in London. From 1995 to 1998, Mr. Pavlovsky worked as a consultant at A. T. Kearney consultancy in St. Petersburg and Moscow. He is a graduate of St. Petersburg State University and holds an MBA degree from INSEAD, Fontainebleau, France.

For further information, please visit www.sitronics.com or contact:

Alexey Tischenko
Head of Capital Markets
Tel: +7 495 221 4943
ir@sitronics.com

Shared Value Limited
Investor Relations
Larisa Kogut-Millings
Tel: +44 (0) 20 7321 5037
sitronics@sharedvalue.net

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 32 countries and exports its products and services to more than 60 countries. SITRONICS has over 10,000 employees of whom approximately 4,500 are involved in research and development.

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

SITRONICS generated revenues of US$ 1,014.6 million for the nine months ended September 30, 2007 and had total assets of US$ 1.78 billion at the end of the period. SITRONICS is majority-owned by Sistema, which is 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, and also OTE, Cosmote, Vodafone, Ericsson and TCL.

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 SITRONICS. 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. These statements are only predictions and actual events or results may differ materially. We do not intend to or undertake any obligation 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, and other factors specifically related to SITRONICS and its operations.

This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of SITRONICS, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of SITRONICS.