Press Release Archive

SITRONICS JSC Announce New Appointments in Telecommunication Solutions Business Division

Moscow, Russia, Hannover, CeBIT - 16th March, 2007 - SITRONICS JSC today announced three new appointments in its Telecommunication Solutions business division. Igor Hulak has been appointed Head of SITRONICS Telecom Solutions business division, and Alexander Manos and Evgeny Maximenko, Deputy Heads responsible for the EEMEA and Russia & the CIS regions respectively.

Igor Hulak has worked for SITRONICS Telecom Solutions, Czech Republic, (formerly STROM telecom), since 2005. He was formerly the Deputy General Director of STROM telecom and from August 2006 served as the First Deputy CEO and Director of Finance & Investments for INTRACOM Telecom, playing a pivotal role in the acquisition of a 51% stake in INTRACOM Telecom by SITRONICS. The Company also announced today that Nihad Hurem, the founder and former CEO of STROM Telecom now SITRONICS Telecom Solutions will be in charge of R&D for telecommunication projects.

Evgeny Utkin, President of SITRONICS commented: "Mr Hulak faces a challenging but interesting task to continue integrating the telecommunication assets acquired by SITRONICS and create one unified company. SITRONICS Telecom Solutions is a multinational company which operates around the world and it is therefore logical that it is run by someone with the diverse experience in international business development that Igor possesses.".

"I'm very grateful to Mr. Hurem, who founded STROM telecom, for his enormous contribution to the company's development. Activities in the field of Research & Development are now a top priority for JSC SITRONICS and his advices in R&D will be a great asset to the Company," Mr Utkin added.

Curriculum Vitae:

Igor Hulak,
Director of Business, SITRONICS Telecommunication Solutions

Born in 1970 in Uherske Hradiste, Czech Republic , Mr. Hulak holds a Master's degree in Economics from the Faculty of International Relations at the Economic University of Prague, Czech Republic and an MBA from Sheffield Hallam University, UK. Mr. Hulak also completed an executive study program in Corporate Finance at the London Business School. He has extensive experience in international senior management and leadership in finance, administration, business control, and strategic planning.

Prior to joining the SITRONICS Group in 2005, Mr Hulak worked for Anglo-Scandinavian metal and technology Group, Outokumpu for 11 years, where he was initially responsible for development of the company's business in the Central & Eastern Europe region and was later appointed Vice President of Finance & Strategy for the UK. In August 2006 Mr. Hulak was also appointed Deputy Managing Director & CFO of INTRACOM TELECOM.

Alexander Manos,
Deputy Director of Business, SITRONICS Telecom Solutions

Alexander Manos was born in Washington (US) in 1971 and has a degree in Electrical Engineering and Economics from Brown University and a Master's degree in Electrical Engineering and Computer Technology from the Massachusetts [Institute] of Technology.

Mr Manos joined INTRACOM in 1998. In January 2002, he joined the INTRACOM subsidiary CONKLIN CORPORATION in Atlanta, U.S. where he was appointed CEO in December 2002.

In March 2004 Mr. Manos was appointed General Manager of the Corporate Marketing and International Operations Service Unit, and in January 2005, Executive Director of the Telecommunications Systems Division. In January 2006 Mr. Manos was appointed CEO of INTRACOM TELECOM.

Evgeny Maximenko,
Deputy Director of Business, SITRONICS Telecom Solutions

Born in Moscow in 1972, Evgeny Maximenko graduated from the Moscow Institute of Energy where he specialised in applied mathematics. From 1994 to 1998 he worked for HP Russia in the field of telecommunications solutions implementation. From 1999 to 2004 Mr. Maximenko worked for HP in the US where he led the development of telecommunications products. From 2004 to 2006 he was the General Director of the international telecommunications consultancy, Logan Orviss, for Russia & the CIS. Since 2006 Mr Maximenko has held the position of Director of Business Development for the telecommunications division of JSC SITRONICS.

For further information, please contact:

Elena Sanarova,
Vice President, Head of Public Relations Department
Tel: +7 495 225 0030

Alexander Boreyko,
Investor Relations Director
+7 495 225-98-26
+7 916 105-83-35


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 3U4and Africa.

SITRONICS serves over 3,500 clients, maintains offices in 29 countries and exports its products and services to more than 60 countries. SITRONICS has over 10,000 employees of which 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 respectivelly.

For the nine months ended 30 September 2006, SITRONICS's revenues and OIBDA were $1,050 million and $114.7 million, respectively. As of 303U4September 2006, SITRONICS had total assets of approximately $1.6 billion.

SITRONICS is majority owned by Sistema, a leading 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, Arcelor Mittal (formerly Mittal Steel), Banca Intesa and TCL of China.