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Director/PDMR Shareholding

JSC Sitronics

FOR IMMEDIATE RELEASE July 30, 2009

SITRONICS BUYS BACK PART OF MANAGEMENT AND DIRECTORS’ SHARES

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 changes to the Management Board and Board of Directors’ shareholdings in SITRONICS.

Following the allocation of shares under the share option programme launched in March 2006, each of the following option programme participants’ shareholdings in SITRONICS decreased to cover personal income tax obligations arising from the exercise of the share options in July 2008.

The shares were repurchased from the members of SITRONICS’ Management Board and Board of Directors by SITRONICS-Management LLC, according to the existing Share Repurchase Agreement.

The option programme participants’ shareholdings now stand as follows:

• Sergey Aslanian - President and CEO of SITRONICS, Member of the Board of Directors and Member of the Management Board - has sold 4,970,003 shares, which represents 0.056% of SITRONICS’ total outstanding share capital, at a price of RUB 0.947 per share, and therefore reduced his shareholding to a total of 41,665,289 shares representing 0.473% of SITRONICS’s total outstanding share capital
• Nikhad Khurem - Member of the Board of Directors - has sold 5,599,714 shares, which represents 0.063% of SITRONICS’ total outstanding share capital, at a price of RUB 0.954 per share, and therefore reduced his shareholding to a total of 27,073,936 shares representing 0.307% of SITRONICS’s total outstanding share capital
• Konstantin Khachaturov - Vice President for Corporate Development and Member of the Management Board - has sold 661,826 shares, which represents 0.007% of SITRONICS’ total outstanding share capital, at a price of RUB 0.947 per share, and therefore reduced his shareholding to a total of 5,553,710 shares representing 0.063% of SITRONICS’s total outstanding share capital
• Gennady Krasnikov - Head of SITRONICS Microelectronic Solutions and Member of the Management Board - has sold 4,067,430 shares, which represents 0.046 % of SITRONICS’ total outstanding share capital, at a price of RUB 0.947 per share, and therefore reduced his shareholding to a total of 164,825,088 shares representing 1.871% of SITRONICS’s total outstanding share capital
• Alexander Krasovsky - Vice President for Sales and Marketing, Member of the Management Board - has sold 827,282 shares, which represents 0.009% of SITRONICS’ total outstanding share capital, at a price of RUB 0.947 per share, and therefore reduced his shareholding to a total of 6,942,138 shares representing 0.078% of SITRONICS’s total outstanding share capital
• Alexandros Manos - CEO of INTRACOM TELECOM and Member of the Management Board - has sold 9,386,376 shares, which represents 0.106% of SITRONICS’ total outstanding share capital, at a price of RUB 0.947 per share, and therefore reduced his shareholding to a total of 6,913,386 shares representing 0.078% of SITRONICS’s total outstanding share capital
• Mikhail Minkovsky - Vice President for New Technologies and Member of the Management Board - has sold 994,001 shares, which represents 0.011% of SITRONICS’ total outstanding share capital, at a price of RUB 0.947 per share, and therefore reduced his shareholding to a total of 8,333,058 shares representing 0.094% of SITRONICS’s total outstanding share capital
• Oleg Sherbakov - Vice President for Corporate Property and Member of the Management Board - has sold 581,061 shares, which represents 0.006% of SITRONICS’ total outstanding share capital, at a price of RUB 0.947 per share, and therefore reduced his shareholding to a total of 1,941,584 shares representing 0.022 % of SITRONICS’s total outstanding share capital

According to the Disclosure and Transparency Rules of the Financial Services Authority, SITRONICS’ treasury shares were not included in the calculation of respective holdings. The indicated total outstanding share capital also excludes SITRONICS’ treasury shares.

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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 has around 10,000 employees of whom approximately 4,500 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 Microelectronics divisions are based in Kiev, Ukraine and Zelenograd, Russia respectively.

SITRONICS generated revenues of US$ 214.9 million for the three months ended March 31, 2009 and had total assets of US$ 1,743.6 million 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.

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 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.