02.07.2008    INTRACOM TELECOM SIGNS A EUR 150 MILLION BOND LOAN AGREEMENT

MOSCOW, Russia - July 2, 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 that INTRACOM TELECOM, a part of SITRONICS Telecom Solutions business division, has signed a EUR150 million bond loan agreement arranged jointly by Alpha Bank, HSBC, Geniki bank, National Bank of Greece and Piraeus Bank.

The proceeds of the loan will be used to refinance existing bank indebtedness of INTRACOM TELECOM and also to finance the company's development plans which mainly include investments for undertaking new projects and its expansion to new markets.

Alpha Bank acted as Lead Arranger, HSBC and Geniki Bank acted as Co-Lead Arrangers, National Bank of Greece and Piraeus Bank acted as Arrangers and E.F.G. Eurobank, FBB, Aspis Bank and Millennium Bank acted as Managers.

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

Corporate Communications
Irina Lanina
Vice President
Tel: +7 495 225 0030
lanina@sitronics.com Shared Value Limited
Larisa Kogut-Millings
Investor Relations
Tel: +44 (0) 20 7321 5037
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 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.

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 2,700 employees, operates subsidiaries in 14 countries and is amongst the largest European companies leading in R&D investments. Since June 2006, INTRACOM TELECOM is controlled by JSC SITRONICS (Russia) with 51%. JSC SITRONICS is the technology subsidiary of JSFC SISTEMA, a leading diversified holding company in Russia and the CIS. INTRACOM HOLDINGS Group (Greece) retains a 49% stake.

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.