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Result of EGM

JSC Sitronics

SITRONICS EXTRAORDINARY SHAREHOLDER MEETING
ELECTS BOARD OF DIRECTORS

MOSCOW, Russia – September 28, 2009 – 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 that its Extraordinary General Meeting (EGM) of shareholders held on September 28, 2009 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;
• Anatoly Ballo – Deputy Chairman and Member of the Management Board, Vnesheconombank;
• 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;
• David Khidasheli – Executive Vice President of External Affairs Functional Division, Sistema;
• Nihad Hurem – Advisor to General Director of SITRONICS Telecom Solutions, Czech Republic a.s.;
• Kirill Poltevskiy – Head of Strategy Department of “High Technologies and Industry” Operating Unit, Sistema

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

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

Corporate Communications Irina Lanina Vice PresidentVice President Tel: +7 495 225 0030Tel: +7 495 225 0030 lanina@sitronics.com

Shared Value Limited Anastasia GorokhovaAnastasia Gorokhova Investor Relations Tel: +44 (0) 20 7321 5010 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 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$ 404.0 million for the six months ended June 30, 2009 and had total assets of US$ 1,844.8 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 also OTE, Cosmote, Vodafone, Ericsson, Arcelor Mittal (former 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.