Sitroniks OAO : SITRONICS TO CANCEL LISTING OF GDRs

MOSCOW, Russia - June 29, 2012 - JSC SITRONICS ("SITRONICS" or the "Company") (LSE: SITR), the leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, announces in accordance with LR 5.2.8.R that it has requested (i) the UK Listing Authority to cancel the listing of the Company's global depositary receipts representing its ordinary shares ("GDRs") on the Official List and (ii) the London Stock Exchange to cancel the admission to trading of the GDRs on its Main Market.

The Company will also direct Deutsche Bank Trust Company Americas, as depositary (the "Depositary") under the Company's Regulation S Deposit Agreement and Rule 144A Deposit Agreement (the "Deposit Agreements"), to terminate the Deposit Agreements. Following such direction, the Depositary is required to terminate the Deposit Agreements by distributing notice of such termination to GDR holders at least 30 days prior to the date of the termination.

It is anticipated that cancellations of the listing and admission to trading as well as the termination of the Deposit Agreements will take effect on August 23, 2012.

The cancellation of listing is requested in connection with the voluntary tender offer by OJSC RTI ("RTI") to acquire up to 36.926% of SITRONICS' ordinary shares from minority shareholders. As was announced on June 8, 2012, RTI completed, pursuant to the tender offer, the acquisition of 3,476,219,122 ordinary shares of the Company, including shares underlying the GDRs. The acquired ordinary shares comprise approximately 36.411% of Company's share capital. As a result, RTI's total ownership stake in SITRONICS increased to 99.485% of the Company's share capital. Further, RTI has initiated a statutory squeeze-out procedure under Russian law to acquire the remaining 0.515% of SITRONICS' ordinary shares.

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SITRONICS is the 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' key Telecommunication Solutions operations are based in Moscow (Russia), 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$ 1,475.1 million for the full year of 2011 and had US$ 1,863.2 million of assets at the year end. SITRONICS is majority owned by OJSC RTI, which is the subsidiary of Sistema, the largest public diversified corporation in Russia and the CIS.

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.