Sitroniks OAO : SITRONICS ANNOUNCES RESULTS OF ITS AGM

MOSCOW, Russia - June 28, 2012 - JSC SITRONICS (SITRONICS or the Company) (LSE: SITR), the leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, today announces the decisions made by its Annual General Shareholders' Meeting ("AGM") on June 28, 2012.

The AGM approved SITRONICS' annual report and annual accounting statements for 2011, including the profit and loss statement. The shareholders approved the recommendation of the Board of Directors not to pay an annual dividend for the twelve months ended December 31, 2011.

The AGM decreased the number of the Board of Directors' members from 11 to 9, and elected the members of SITRONICS' Board of Directors as follows:

• Sergey Aslanian
• Svetlana Afanasieva
• Sergey Boev
• Gennady Krasnikov
• Elena Myakotnikova
• Andrey Ryabov
• Igor Temirov
• Sergey Tishchenko
• Igor Zakharchenko

The shareholders elected the members of SITRONICS' Audit Commission as follows:

• Milena Ivanochkina
• Dmitry Kudryashov
• Vladimir Churkin

In addition, the shareholders approved the related party transactions, which may be implemented by SITRONICS in the future.

Paliy & Sons was appointed as the Company's Russian Accounting Standards auditor for 2012.

At the statutory Board of Directors' meeting following the AGM, the Board of Directors appointed Sergey Boev as Chairman.

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

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.