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SITRONICS Establishes Subsidiary in India

MOSCOW, Russia - April 9, 2009 -JSC SITRONICS (SITRONICS or the "Group") (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, today announced that it has established a subsidiary in India under the name 'Sitronics India'. The office of the subsidiary is located in New Delhi.

The Group started to operate in the Indian market in May 2008, and has had a permanent presence in India since November 2008. The formal registration of the new subsidiary was completed in April 2009. Timur Vekilov, who has previously held the position of Chief Technical Officer at SITRONICS Information Technologies, was appointed Managing Director of the newly established company.

The primary objective of the new subsidiary is to introduce the complete range of Sitronics' products and solutions to the Indian market. Sitronics India is expected to focus on projects for the telecommunications sector, the transport industry, the educational system, as well as State institutions.

Sergey Aslanian, President and Chief Executive Officer of SITRONICS, commented: "The establishment of subsidiary in India is in line with our stated goal to expand our presence in rapidly developing markets. We have already successfully delivered a number of projects in India, and we are confident that our expertise and knowledge of the local market will enable us to strengthen our position in the Indian IT and telecommunications sectors, which have a significant growth potential."

Corporate Communications
Irina Lanina
Vice President
Tel: +7 495 225 0030
lanina@sitronics.com

Shared Value Limited
Anastasia Gorokhova

Investor Relations

Tel: +44 (0) 20 7321 5010
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 11,000 employees of whom approximately 4,500 are involved in research and development.

SITRONICS generated revenues of US$ 1,388.6 million for the nine months ended September 30, 2008 and had total assets of US$ 2,213.4 billion at the end of the period. SITRONICS is majority owned by Sistema, the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector.

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) 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 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.

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