News

SITRONICS WINS SBERBANK OF RUSSIA TENDER TO DELIVER CHIP CARDS

MOSCOW, Russia – September 28, 2009 – JSC SITRONICS (SITRONICS or the “Group”) (LSE:SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, today announced that its subsidiary SITRONICS Smart Technologies (SST) has won a tender to deliver Visa and MasterCard chip bank cards during a three year period for Sberbank of Russia, which is the largest bank in Russia and the CIS.

Sergey Aslanian, President and Chief Executive Officer of SITRONICS, commented: “The award of the Sberbank contract is proof of the high quality of SITRONICS’ products, and our competitive price offering. We look forward to continue to successfully develop our cooperation with Sberbank.”

Viktor Orlovsky, Senior Vice-President of Sberbank of Russia, commented: “We applied a set of challenging criteria to all of the participants in the tender and SST’s offering was optimal in terms of quality, pricing and efficient delivery. We already have a successful track record of implementing projects with SITRONICS, and we are happy to continue our mutually beneficial cooperation.”

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For further information, please visit www.sitronics.com or contact:

Corporate Communications                               Shared Value Limited

Irina Lanina                                                       Anastasia Gorokhova

Vice President                                                   Investor Relations

Tel: +7 495 225 0030                                       Tel: +44 (0) 20 7321 5010

lanina@sitronics.com                                        sitronics@sharedvalue.net

SITRONICS is a leading provider of telecommunication solutions, including software, equipment and systems integration, IT solutions and microelectronic solutions in Russia and the Commonwealth of Independent States with a strong presence in Central and Eastern Europe and a growing presence in the Middle East and Africa.

SITRONICS serves over 3,500 clients, maintains offices in 32 countries and exports its products and services to more than 60 countries. SITRONICS has around 10,000 employees of whom approximately 4,500 are involved in research and development.

SITRONICS’ key Telecommunication Solutions operations are based in Prague, Czech Republic and Athens, Greece, while the company’s IT Solutions and Microelectronics divisions are based in Kiev, Ukraine and Zelenograd, Russia respectively.

SITRONICS generated revenues of US$ 404.0 million for the six months ended June 30, 2009 and had total assets of US$ 1,844.8 million at the end of the period. SITRONICS is majority owned by Sistema, the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of SITRONICS. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other expressions. These statements are only predictions and actual events or results may differ materially. We do not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, and other factors specifically related to SITRONICS and its operations.