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INTRACOM TELECOM Signs a EUR 122.5 Million Contract With Romanian Ministry of Education, Research and Youth

Posted on: Thursday, 18 September 2008, 06:00 CDT

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 INTRACOM TELECOM, a part of SITRONICS Telecommunication Solutions business division, has signed a EUR 122.5 million contract with the Romanian Ministry of Education, Research and Youth to deliver equipment for IT laboratories in over 8,000 secondary education schools in Romania. The project will be implemented in cooperation with INTRACOM TELECOM's subcontractor, Siveco Romania S.A..

Within the framework of the project, INTRACOM TELECOM will supply infrastructure which includes workstations and servers connected through structured cabling and networking equipment in local and wider area networks. Siveco Romania S.A. will provide multimedia equipment, educational software applications, as well as installation and training services.

For further information, please visit www.sitronics.com

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 over 11,000 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 Microelectronic Solutions divisions are based in Kiev, Ukraine and Zelenograd, Russia respectively.

SITRONICS generated revenues of US$ 926.8 million for the six months ended June 30, 2008 and had total assets of US$ 2.2 billion 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.

Source: Business Wire

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