OREANDA-NEWS. March 4, 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”).

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.