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INTRACOM TELECOM enters India

Athens, June 12, 2008 - INTRACOM TELECOM, a part of SITRONICS Telecom Solutions business division, today announced the signing of a USD 5.7 million contract with Shyam Telelink Limited, a telecom service licensee of India, for the supply of INTRACOM TELECOM's Radio Relay products (INTRALINK).

Within the framework of this contract, INTRACOM TELECOM has undertaken a turn-key project, including the supply, installation and commissioning of a Point-to-Point Radio Link network for Shyam Telelink's expansion in the Rajasthan area. The execution of this project is underway and completion is anticipated within the following 5 months.

Mr. Alexandros Manos, Managing Director of INTRACOM TELECOM, stated: "We are pleased to be awarded this project as we enter a new market serving Shyam Telelink with our widely deployed radio product line, INTRALINK. We are looking forward to the expansion of our Radio Relay deployment in India and the wider region in the near future."

Mr. Raymond Armes, President of Shyam Telelink Limited, commented: "We have selected INTRACOM TELECOM based on the technical excellence of the company's Radio Relay products as well as INTRACOM TELECOM's capability to provide high quality end to end service."

INTRACOM TELECOM has extensive international experience in providing point-to-point wireless solutions, the most successful deployments being in many European countries (Sweden, Norway, Finland, Iceland, UK, FYROM), South America (Paraguay, Brazil), the CIS (Russia, Ukraine, Kazakhstan) and Asia (Indonesia, Nepal).

About Shyam Telelink Limited

Shyam Telelink Ltd., was recently awarded unified telecommunication licenses for provision of fixed-line and cellular services in 21 Indian circles. As a result, the Company will hold licenses, including the licenses already obtained in the state of Rajasthan, covering the whole of India. The company also controls 100 percent of the local internet service provider Shyam Internet Ltd. Shyam Telelink owns a developed telecommunications infrastructure in state of Rajasthan, which includes 4,000 kilometers of fiber-optic lines. Shyam Telelink provided services to over 258,000 subscribers as at the end of September 2007.

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 2,700 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.