Sitroniks OAO : SITRONICS BOARD RECOMMENDS RTI VOLUNTARY TENDER OFFER FOR SITRONICS’ SHARES

• 26 March 2012

MOSCOW, Russia - March 26, 2012 - JSC SITRONICS ("SITRONICS" or the "Company") (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, announces that the Board of Directors of SITRONICS (the "Board of Directors") has today recommended that its shareholders (other than OJSC RTI ("RTI") accept the Voluntary Tender Offer (the "Offer") by RTI to acquire the remaining 36.93% of ordinary registered shares of SITRONICS at a cash price of RUR 0.55 per ordinary share.

RTI is the controlling shareholder of the Company holding 63.07% of the Company's share capital, and a subsidiary of Sistema JSFC (Sistema JSFC owns 84.6% and the Bank of Moscow owns 15.4% of RTI).

As previously announced, SITRONICS received the Offer from RTI on March 13, 2012 following the expiration of the period of statutory review of the Offer by the Russian Federal Service for Financial Markets. The Offer was made for all shares of SITRONICS, including shares underlying SITRONICS Depositary Receipts ("DRs"). The Offer will remain open for 70 days from the date when SITRONICS received the Offer until the end of the day on May 22, 2012.

The Offer documentation, together with the recommendations of the Board of Directors with respect to the Offer, will be circulated to SITRONICS shareholders of record as of the end of the day on March 13, 2012 not later than on March 28, 2012. Holders of SITRONICS DRs will receive the Offer documentation through Deutsche Bank Trust Company Americas, the Depositary with respect to the Company's DR programmes (the "Depositary"), in accordance with its established procedures and timing, as well as the terms of the relevant DR programme Deposit Agreement.

Upon completion of necessary arrangements with the Depositary, the DR holders may have an opportunity to participate in the Offer through the Depositary. Any consideration payable to the DR holders will be net of fees charged by the Depositary under the relevant Deposit Agreement, in US Dollars based on the USD/RUB exchange rate available to the Depositary in accordance with its established procedures and practice.

As announced on March 13, 2012, the Board of Directors established a Special Committee of Independent Directors of SITRONICS (the "Special Committee") to review the terms and conditions of the Offer and to develop recommendations to the Board of Directors in connection with the Offer. In connection with its evaluation of the Offer, the Special Committee received on March 23, 2012 an opinion from Rothschild, that, as of that date, the proposed cash consideration to be offered to the SITRONICS shareholders, other than RTI, by RTI pursuant to the Offer is fair, from a financial point of view, to such shareholders. The recommendations developed by the Special Committee have been accepted and approved by the Board of Directors of SITRONICS.

Rothschild is acting as financial advisor to the Special Committee. Debevoise & Plimpton LLP is acting as legal advisor to the Special Committee.

Documentation regarding the Offer (including the recommendations of the Board of Directors with respect to the Offer) is available in Russian and in English at: http://www.sitronics.com/investors/ and http://www.sitronics.ru/investors/.

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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 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$ 1,166.9 million in 2010 and had US$ 2,013.3 million of assets at the end of the year. SITRONICS is majority owned by OJSC RTI, which is the subsidiary of Sistema, the largest public diversified corporation in Russia and the CIS.

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This press release is not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of that jurisdiction.

This press release is for informational purposes and shall not constitute an offer to purchase or a solicitation of an offer to purchase with respect to any securities. The terms of the Offer are contained in the Offer document delivered to SITRONICS.

This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) (a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Rothschild is acting for SITRONICS as represented by its Special Committee and no one else in relation to the Offer and will not be responsible to anyone other than the Special Committee for providing the protections afforded to clients of Rothschild nor for providing advice in relation to the Offer.

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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.

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This press release was issued by OAO Sitronics and was initially posted at http://www.sitronics.com/press/news/3405/ . It was distributed, unedited and unaltered, by noodls on 2012-03-27 03:01:04 AM. The issuer is solely responsible for the accuracy of the information contained therein.