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INTRACOM TELECOM: 3 month deployment of Radio Link Network in India

Athens, September 29, 2008 - INTRACOM TELECOM, a part of SITRONICS Telecom Solutions business division, today announced that it has successfully completed the installation of its Radio Relay equipment, INTRALINK, for Shyam Telelink Limited.

More specifically, INTRACOM TELECOM has completed a turn-key project, worth $ 5.7 million, including the supply, installation and commissioning of a Point-to-Point Radio Link network for Shyam Telelink's expansion in the Rajasthan area. The duration of this project was only 3 months.

Mr. Alexandros Manos, Managing Director of INTRACOM TELECOM, stated: "This project illustrates INTRACOM TELECOM's capabilities to initiate and run large scale projects in greenfield and demanding markets, within a short period of time. We are pleased to cooperate with Shyam Telelink Limited and look forward to further contributing with our products and services to its ambitious project, to expand to 27 Indian states with approximately 95% of the country's population."

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.