SITRONICS AND MTS UKRAINE SIGN THREE NEW CONTRACTS
MOSCOW, Russia - 5 December, 2007 - JSC SITRONICS ("SITRONICS" or "The Company") (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, today announced that it has signed three contracts totalling US$ 39 million to supply technological equipment and telecommunications solutions to MTS Ukraine, one of the largest mobile operators in Ukraine.
SITRONICS Telecom Solutions Ukraine, a regional subsidiary of SITRONICS Telecom Solutions, will supply the radio-relay equipment produced by INTRACOM TELECOM, a subsidiary of SITRONICS, to establish and service 2,200 radio-relay links in the MTS Ukraine network. The value of the contract is estimated at US$ 27 million.
SITRONICS will also provide and service for MTS Ukraine an Interactive Cell Broadcast solution, which was created on the basis of Celltick's products. The technology of interactive transmission allows for the delivery of new information and entertainment services to the mobile phones of millions of subscribers. The value of the contract is estimated at US$ 5.7 million.
In addition, SITRONICS will deliver a Fraud Management system based on the ECI Telecom's solutions, under a contract worth an estimated US$ 6.3 million.
Sergey Aslanyan, President and Chief Executive Officer of SITRONICS, commented: "The new contracts with MTS Ukraine, a subsidiary of the largest mobile operator in Russia and the CIS, prove the strong competitiveness and high quality of our products and solutions, and will assist in strengthening the cooperation between our companies."
***
| SITRONICS
Alexander Goldin, IR Director Tel: +7 495 225 0030 ir@sitronics.com Elena Sanarova Public Relations Tel: +7 495 225 0030 Sanarova@sitronics.com |
Shared Value Limited
Investor Relations Larisa Kogut-Millings Tel: +44 (0) 20 7321 5037 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 over 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 and Moscow, Russia, while the company's IT Solutions and Microelectronic Solutions divisions are based in Kiev, Ukraine and Zelenograd, Russia, respectively.
For the six months ended June 30, 2007, SITRONICS' revenues were US$ 638.3 million. As of 30 June 2007, SITRONICS had total assets of US$ 1.7 billion. SITRONICS is majority owned by Sistema, the largest diversified holding company in Russia and CIS.
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 and TCL.
Note to editors:
Celtick Technologies Ltd. is a developer of Active Content Marketing.
The company was founded in 2000 and privately owned, Celltick is headquartered in the UK with offices in Russia, Singapore, India, Thailand and Brazil and R&D Centre in Israel.
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 similar 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.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of SITRONICS, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of SITRONICS.
