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INTRACOM TELECOM Signs a USD 24 Million Project with VivaCell-MTS, Armenia's leading mobile operator

Athens, December 15, 2008 - INTRACOM TELECOM, a part of SITRONICS, today announced the signing of a USD 24 million contract with VivaCell-MTS (K- Telecom), Armenia's leading mobile operator, for the expansion of its 2.5G mobile network.

Under the terms of the contract, INTRACOM TELECOM will provide Infrastructure works, Installation and Integration services, in cooperation with Alcatel-Lucent who will be the main equipment vendor. This project aims at enabling VivaCell-MTS (K-Telecom) to expand the access capacity of its GSM/GPRS network and achieve its business goals by offering the most advanced high-quality services to the Armenian end-users. The project is estimated to be completed by the end of the 1st Quarter of 2009.

Mr. Alexandros Manos, Managing Director of INTRACOM TELECOM, commented: "This new project is another reward for our over-a-decade commitment to deliver state of the art solutions and professional services in Armenia. We are pleased to further enhance our long established cooperation with VivaCell-MTS (K-Telecom) and are confident that we will successfully meet the network development requirements of the Operator that today serves 74% of the country's mobile subscribers."

"Our previous successful cooperation with INTRACOM Armenia played a key role during our partner selection process for this project," stated Mr. Ralph Yirikian, VivaCell-MTS General Manager and continued, "It is important for us to cooperate with a local based company which provides integrated and cost-effective solutions. VivaCell-MTS strives at all times to join hands with the world's top notch suppliers to be able to provide the best services to the Armenian Society."

About VivaCell-MTS

VivaCell-MTS (K-Telecom CJSC) is the leading Armenian mobile operator, providing a wide range of Voice and Data services. Since its launch on 1st July 2005, in a short period of time VivaCell-MTS has managed to build a nationwide network and a considerable customer base. VivaCell-MTS drives the development and offering of innovative mobile communications products, services and features in the Armenian mobile communications market.
For more information, visit www.vivacell.am

Mobile TeleSystems OJSC ("MTS") is the largest mobile phone operator in Russia and the CIS. Together with its subsidiaries, the Company services over 91 million subscribers. The regions of Russia, as well as Armenia, Belarus, Turkmenistan, Ukraine, and Uzbekistan, in which MTS and its associates and subsidiaries are licensed to provide GSM services, have a total population of more than 230 million. Since June 2000, MTS' Level 3 ADRs have been listed on the New York Stock Exchange (ticker symbol MBT).
Additional information about MTS can be found at www.mts.ru

About INTRACOM TELECOM

INTRACOM TELECOM is a leading developer and producer of telecommunication systems as well as provider of integrated solutions and professional services to fixed and mobile operators in the EEMEA region. Over 100 customers in more than 50 countries choose INTRACOM TELECOM for its state-of-the-art products and solutions. INTRACOM TELECOM has 2,600 employees, operates subsidiaries in 14 countries and is amongst the largest European companies leading in R&D investments. Since June 2006, INTRACOM TELECOM has been controlled by JSC SITRONICS (Russia) with 51%. JSC SITRONICS is the technology subsidiary of JSFC SISTEMA, the largest consumer services company in Central and Eastern Europe. INTRACOM HOLDINGS Group (Greece) retains a 49% stake.

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