MOSCOW, Russia– August 23, 2012 – JSC SITRONICS (“SITRONICS” or “the Company”) (LSE: SITR), the leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, announces that, as a result of squeeze-out procedure, OJSC RTI (“RTI”) completed and fully paid for the acquisition of 49,139,078 of SITRONICS' ordinary shares, including shares underlying the Company’s Depositary Receipts, comprising approximately 0.52% of SITRONICS' share capital. Following the acquisition of 99.48% of SITRONICS’ share capital pursuant to its Voluntary Tender Offer, RTI launched the statutory squeeze-out procedure under Russian law to acquire the remaining 0.52% of the Company's ordinary shares from minority shareholders on June 26, 2012.

This brings RTI’s total ownership stake in SITRONICS to 100% of SITRONICS’ share capital.

As was previously announced, it is anticipated that delisting of SITRONICS from London Stock Exchange as well as the termination of its Depositary Receipt programs and Deposit Agreements will take place later today.