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Financial Corporation "Sistema"

December 12, 2007

Sitronics launches production of 0.18 micron technology in Zelenograd

Moscow, Russia - December 12, 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 launched production of 0.18 micron integrated circuit chips (IC) in Zelenograd.

SITRONICS signed the partnership agreement with ST Microelectronics to cooperate in the field of design, marketing and selling of ICs in July 2006. SITRONICS invested more than US$ 300 million in the development of microelectronic production in Zelenograd over the last three years, including US$ 200 million investment in this project.

The new plant will use the integrated process of manufacturing ICs to produce a wide range of smart-cards. More than 40 suppliers from ten countries participated in the project. As previously announced SITRONICS plans to start the production of the next stage of ICs using 0.13 micron technology in the near future, this will be followed by the launch of 0.09 micron ICs in 2009.

SITRONICS is heading the creation of the "Moscow Technological Cluster" which is being formed around the modern production facilities in Zelenograd. The Cluster comprises modern production base, as well as scientific and technological laboratories, technical schools and service centres.

Sergey Aslanyan, President and Chief Executive Officer of SITRONICS, commented: "Microelectronic Solutions is one of the most dynamically developing segments of SITRONICS with an approximately 50% annual growth rate. The launch of the new plant will give us the opportunity to develop products using our own R&D resources and scientists. Mikron is a good example of the joint cooperation of private business and the government in bringing domestically developed microelectronic technologies to the market."

Gennady Krasnikov, General Director of JSC Mikron and Head of the SITRONICS Microelectronic Solutions, commented: "We have re-established the scientific and technological knowledge base at Mikron which will allow us to address the existing technological gap in the field of microelectronics in Russia. We have trained 120 engineers at our partners' companies, who are now involved in developing modern technologies in the country."




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