Moscow, Russia - November 6, 2007 - JSC SITRONICS ("SITRONICS" or "The Company") (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, with a growing presence in other EMEA emerging markets, today announced that it has signed a letter of intent to establish a strategic partnership with Nokia Siemens Networks, the leading global enabler of communications services.

Within the framework of the partnership, Nokia Siemens Networks has signed an initial framework purchase agreement with SITRONICS subsidiary, JSC Mikron, which is the largest manufacturer and exporter of microelectronic components in Russia. Within the terms of the agreement, Mikron will become the official global supplier of analogue power management electronic components for Nokia Siemens Networks products. 

Sergey Aslanyan, President and Chief Executive Officer, commented: "Nokia Siemens Networks will benefit from our broad expertise in the technology sector and our global service delivery capability. This agreement with Nokia Siemens Networks is the first step in our cooperation, on which we intend to build by providing further high quality products."

Volker Ziegler, Head of North East region of Nokia Siemens Networks, added: "Nokia Siemens Networks has been supplying infrastructure equipment to SITRONICS' sister companies, Mobile TeleSystems (MTS) and Moscow City Telephone Network (MGTS), since the mid 1990s. We are pleased to have the opportunity to work with another company in the Sistema Group, which has a successful track record in delivering efficient technological solutions. We believe this partnership will not only help us introduce greater efficiencies within our business, but will also enable us to include the best of products available in the market and provide solutions to our customers".