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Thursday, 22 June 2006
SITRONICS and INTRACOM HOLDINGS ANNOUNCE THAT THEY HAVE REACHED A FINAL AGREEMENT
Following their joint announcement of February, 13, 2006, SISTEMA (LSE: SSA) and INTRACOM HOLDINGS SA (ASE: INTRK), Concern SITRONICS, the technology arm of SISTEMA and INTRACOM HOLDINGS announce that today they have reached a final agreement for the acquisition by Concern SITRONICS of a 51% stake in INTRACOM TELECOM for EUR 120 million. The stocks transfer is expected to take place by June 30, 2006.
INTRACOM TELECOM is a fully owned subsidiary of INTRACOM HOLDINGS providing complete telecommunications solutions and services in the EEMEA (Eastern Europe, Middle East and Africa) region. INTRACOM TELECOM, through its R&D activity, has developed and manufactured a full portfolio of advanced technological products in the areas of broadband fixed and wireless access and transmission systems, as well as content delivery systems (IPTV, triple-play).
Concern SITRONICS will integrate the company into its Telecom Solutions Division, whose primary focus is currently on switching equipment, billing systems and NGN, aiming to achieve full scale synergies from INTRACOM TELECOM's complementary product lines, system integration capabilities and customer base.
About SISTEMA
Sistema is the largest private sector consumer services company in Russia and the CIS, with over 50 million customers. Sistema portfolio includes market-leading businesses in selected service-based industries, including telecommunications, technology, insurance, banking, real estate, retail and media. Founded in 1993, the company reported in 2005 revenues of US$ 7.6 billion and total assets of US$ 14 billion. Sistema's shares are listed under the symbol "SSA" on the London Stock Exchange, under the symbol "AFKS" on the Russian Trading System (RTS), and under the symbol "SIST" on the Moscow Stock Exchange (MSE).
About CONCERN SITRONICS
Concern SITRONICS, headquartered in Moscow, Russia is the technology arm of Sistema active in four core segments: Telecom equipment manufacturing & software development (Telecom Solutions), Information Technologies, Microelectronic Components, Consumer Electronics. Founded in 1997, the company reported in 2005 reveneus $954,9 mln and total assets $567,8 mln. SITRONICS has production facilities in Moscow, Kiev, Prague and several other East European cities. Sitronics has 6 700 emploees. Its products are sold in Western and Easter Europe, Russia and CIS, North America, Middle East and South-East Asia.
About INTRACOM HOLDINGS
INTRACOM SA was founded in 1977, has been listed on the Athens Stock Exchange since 1990, and is included in the FTSE/ASE-20 LargeCap index. On December 2005, the Group reorganized, creating INTRACOM HOLDINGS, one of the largest Greek multinational holding Groups, active in telecommunications, e-government, banking and enterprise, defense electronic systems, and construction. The Group's major subsidiaries are: INTRACOM TELECOM, INTRACOM DEFENSE ELECTRONICS, INTRACOM IT SERVICES, INTRAKAT and H.O.L. INTRACOM HOLDINGS Group has 5,700 employees, exports to 60 countries, and operates subsidiaries in 19 countries.
About INTRACOM TELECOM
INTRACOM TELECOM is a subsidiary of INTRACOM HOLDINGS. The company is a leading telecommunications equipment vendor and solutions provider for fixed and mobile operators. The company delivers end-to-end future proof solutions, implements large-scale turn-key projects and provides a wide range of professional and outsourcing services to telecommunications operators. INTRACOM TELECOM operates subsidiaries in 13 countries and, together with them, is active in more than 50 countries, strategically aiming to the area of South Eastern Europe, Middle East and North Africa.
For further information, please visit www.sistema.com, www.sitronics.com, www.intracom.com or contact:
SITRONICS Public Relations
Elena Sanarova
Tel: +7 495 225 0030
sanarova@sistronics.com
SISTEMA Investor Relations
Alexei Kurach
Tel: +7 495 629 2741
kurach@sistema.ru
sistema@sharedvalue.net
Shared Value Limited
Matthew Hooper
Tel: +44 (0) 20 7321 5023
INTRACOM HOLDINGS
Dimitris Klonis
General Manager, Executive Member BoD
Tel: 210 667 1991
dklo@intracom.gr
INTRACOM HOLDINGS
Manolis Terrovitis
Finance Department
Tel: 210 667 1081
mter@intracom.gr
INTRACOM HOLDINGS
Ioannis Mantzaris
Investor Relations
Tel: 210 667 9902
iman@intracom.gr
INTRACOM HOLDINGS
Christina Geronicola
Communications Director
Tel: 210-667-4747
christina.geronicola@intracom.com
INTRACOM HOLDINGS
Vivian Tsamadou
Media Relations Manager
Tel: 210-667-7121
vtsa@intracom.gr