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INTRACOM TELECOM signs framework agreement with Etisalat

Athens - 10 November 2009 - INTRACOM TELECOM, a part of SITRONICS, announced today the signing of a frame agreement by its Dubai based subsidiary, INTRACOM Middle East, to supply its point-to-point (INTRALINK) and point-to-multipoint (WiBAS) radio equipment to Etisalat, a world-class UAE-based telecommunication services provider, operating in 17 countries across Asia, the Middle East and Africa.

Under the terms of this frame agreement, INTRACOM TELECOM's wireless solutions will be deployed in Etisalat's network expansion projects enabling the operator to effectively backhaul 2G/3G traffic and to provide its business customers broadband wireless services.

Fadhil Ansari, Executive Vice President of Engineering at Etisalat said: "Wireless broadband is a strategically important technology in the Middle East and Africa. Besides the backhauling of 2G, 3G and WiMAX base stations, enabling the easy expansion of the Network, the systems can provide high-speed connectivity to customers located in areas where it is not possible either to deploy fiber, or to maintain it. Through managing our network infrastructure and investing in the latest technologies, we will be able to provide a seamless experience to our customers who should be able to access the Internet conveniently across any device that they choose."

Mr. Alexandros Manos, Managing Director of INTRACOM TELECOM, stated: "The Middle Eastern, African and Asian telecommunication markets are the most rapidly growing in the world with local operators continuously investing in network expansion. Over a decade, INTRACOM TELECOM has been focusing on the wider MEA region, in which Etisalat is the leading operator. We regard this agreement as the foundation of a fruitful cooperation and are confident that Etisalat will benefit significantly from the technical excellence of our widely deployed product line."

"We are honoured to be entrusted by Etisalat for our core technology. We furthermore look forward to contributing the fullest to its expansion plans through our high quality technical teams that we have been active in the region for the past 10 years," commented Mr. Manolis Ikonomidis, Managing Director of INTRACOM Middle East.

INTRACOM TELECOM has been innovating in the wireless access and transmission field for over 15 years, having successfully developed and deployed point-to-point and point-to-multipoint systems with numerous operators in Europe, Middle East, America, Asia and the CIS. The company has strategically focused and is investing heavily on the continuous evolution of its wireless product lines. In the growing shift to broadband, IP based converged networks, INTRACOM TELECOM is incorporating the latest standards and state-of-the-art technologies in order to deliver cost effective wireless solutions that address the new requirements of its customers.

About Etisalat

Etisalat is one of the largest telecommunications companies in the world and the largest operator in the Arab world headquartered in the UAE (as per FT500 March 31, 2009).

Etisalat operates in 17 countries across Asia, the Middle East and Africa, servicing over 80m customers out of a total population that exceeds 1.7bn people.

In 2008, Etisalat reported annual Net Revenues of AED 26.119 billion and Net Profits of AED 8.665billion. Etisalat reported Net profit of AED 2.178bn and net revenues of AED 7.119bn for the first quarter of 2009.

Etisalat is a major investor in Thuraya, one of the world's leading satellite geo-mobile communication systems covering approximately two thirds of the planet's surface.

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 2,500 employees, operates subsidiaries in 16 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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