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VADIM MELKUMOV IS APPOINTED AS VICE-PRESIDENT OF JSC SITRONICS

MOSCOW, Russia – January 28, 2010 – 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 Vadim Melkumov is appointed as vice-president of JSC SITRONICS. In addition the Board of Directors appointed Mr. Melkumov a member of the Board of JSC SITRONICS.

Sergey Aslanian, president of SITRONICS, commented: “Vadim Melkumov is known on the market as an experienced manager with a successful business development background. We believe that his professional skills and extensive management experience will help us strengthen our work on the promising information and communications technology market.”

Cirriculum vitae

Vadim Melkumov

Vice-president of JSC SITRONICS

Mr Melkumov was born in 1973 in Baku, Azerbaijan. He graduated from the Plekhanov Russian Academy of Economics with a degree in economics in 1995 and in 2002 from the All-Russia State Tax Academy with a degree in law. From 1994-2001 he worked with Bank Menatep and JSC Yukos, where he handled the restructuring of subsidiaries. From 1996-1997 he was an aide to the first deputy minister for industry of the Russian Federation. In 2001 he created and headed UFG’s external relations department, and in 2002 he became the director UFG’s corporate finance department. From 2003 to 2006 he worked at TNK-BP, first on restructuring its oil service business, and then from 2006 to 2009 he worked as director of its M&A department.

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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’ 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$ 625.4 million for the nine months ended September 30, 2009 and had total assets of US$ 1,736.9million 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.