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SITRONICS ANNOUNCES RESULTS OF EGM

MOSCOW, Russia – February 25, 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 the decisions made at the Extraordinary General Meeting of its shareholders (“EGM”) held on February 25, 2010.

The shareholders approved the election of a Board of Directors comprising the following 9 members:

Anton Abugov – First Vice President, Head of Strategy and Development Functional Division, Sistema;

Sergey Aslanian – President and Chief Executive Officer, SITRONICS;

Sergey Boyev – Vice President and Head of “High Technologies and Industry” Operating Unit, Sistema;

Alexey Buyanov – Senior Vice President, Head of Financial Functional Division, Sistema;

Dmitry Gaev – Head of the Moscow Subway;

Gregor Harter - Independent Director, SITRONICS, Vice President of Booz&Company GmbH Germany;

Nihad Hurem – Advisor to General Director of SITRONICS Telecom Solutions, Czech Republic a.s.;

David Khidasheli – Executive Vice President “High Technologies and Industry” Operating Unit, Sistema;

Igor Kozlov - Executive Vice President of “High Technologies and Industry” Operating Unit, Sistema;

In addition, the EGM approved interested party transaction with regards to SITRONICS’ corporate guarantee to support a part of the credit facility provided to INTRACOM S.A. TELECOM SOLUTIONS by Alpha Bank S.A (Greece) in December 2005.

Also, the EGM approved participation of JSC SITRONICS in the noncommercial organization “Infocommunication Services Market Participants Union” (Infocommunication Union).

At the statutory Board meeting following the EGM, Sergey Boyev was re-elected as Chairman of the Board of Directors.

About the new Members of the Board of Directors

Igor Kozlov

Mr. Kozlov was born in 1965. In 1987 he graduated from the “Yakov Alksnis” Riga Higher School of Military Aviation Engineering. In 1999 he received a Doctor of Science degree from the “Nikolay Zhukovskiy” Air Force Engineering Academy.

From October 2003 to April 2005 he worked as Director of Corporate Governance at JSC ITPZ Group and from April 2005 to September 2005 as its Director of Organizational Development and IT. From February 2006 to January 2010 he worked at JSC BANK URALSIB. Since January 2010 he has been Executive Vice President of JSC AFK SISTEMA’s High Technology and Industry business unit.

Gregor Harter

Mr. Harter was born in 1961. He received a diploma in computer science from the Technical University of Karlsruhe.

He has worked predominately in telecommunications and high-tech companies..
Mr. Harter has held positions at Coopers & Lybrand and worked in various IT roles at DaimlerChrysler, IBM and Industrial Informatics. Since 1993 he has been Vice President of Booz&Company GmbH Germany.

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

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.