01.07.2008    SITRONICS APPOINTS MARINA ZABOLOTNEVA AS CHIEF FINANCIAL OFFICER

MOSCOW, Russia - July 1, 2008 - JSC SITRONICS ("SITRONICS" or "The Company") (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, today announced the appointment of Marina Zabolotneva as Chief Financial Officer, with immediate effect. Mrs. Zabolotneva previously held the position of Chief Financial Officer at Intourist, a large universal operator in the Russian tourism market.

Sergey Aslanian, President and Chief Executive Officer of SITRONICS, commented:
"The appointment of Marina Zabolotneva is the final step in the development of our senior management team, which will be focused on the use of efficient management solutions in order to increase market share in the global technology market. Ms. Zabolotneva will be tasked with increasing the operating efficiency of the business through the ongoing optimization of the Company's expenses, growing returns from new and existing investment projects and the efficient management of the Company's working capital."

Marina Zabolotneva was born on July 31, 1972 in Volgograd, Russia. From 2006 to 2008, Mrs. Zabolotneva served as Chief Financial Officer of Intourist. From 2003 to 2006, she served as Director of Treasury at JSC Mobile TeleSystems. From 2001 to 2003, Mrs. Zabolotneva was a treasurer at Coca-Cola HBC Eurasia. Marina Zabolotneva is a graduate of Volgograd State University with a degree in Economics and post-graduate degree in "Economy, planning and management" and "Cash basis analysis of economic activity". She also holds a degree from the University of Akron, USA. Mrs. Zabolotneva is a certified member of the Association of Chartered Certified Accountants ("АССА") and of the Association of Professional Accountants of Russia.

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For further information, please visit www.sitronics.com or contact:
For further information, please visit www.sitronics.com or contact:
Irina Lanina
Vice-President
Corporate communications
Tel: +7 495 225 0030
lanina@sitronics.com
Sergei Filipov
Head of Press Service
Tel: +7 495 225 0030
filippov@sitronics.com
Shared Value Limited
Investor Relations
Larisa Kogut-Millings
Tel: +44 (0) 20 7321 5037
sitronics@sharedvalue.net

SITRONICS (LSE: SITR) 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 30 countries and exports its products and services to more than 60 countries. SITRONICS has over 10,000 employees of whom approximately 4,600 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 Microelectronic Solutions divisions are based in Kiev, Ukraine and Zelenograd, Russia respectively.

For the three months ended March 31, 2008, SITRONICS' revenues were US$ 310 million. As of 31 March 2008, SITRONICS had total assets of US$ 1.97 billion. SITRONICS is majority owned by Sistema, the largest diversified holding company in Russia and CIS.

SITRONICS has developed strategic alliances in its home markets with Cisco Systems, STMicroelectronics, Infineon and Giesecke & Devrient in relation to certain products and services. SITRONICS has vendor relationships with Siemens, Ericsson, Motorola, ORACLE, Intel, Sun Microsystems and Microsoft. Key customers include Sistema group companies, such as MTS, Comstar UTS and MTT, and also OTE, Cosmote, Vodafone, Ericsson, Arcelor Mittal (formerly Mittal Steel) and TCL.

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 similar 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.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of SITRONICS, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of SITRONICS.