OREANDA-NEWS. November 14, 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 EEMEA emerging markets, today announced the appointment of Mikhail Minkovsky as Chief Technology Officer. Mr. Minkovsky is the former Head of Technology Architecture Department of Mobile TeleSystems, the largest mobile phone operator in Russia and the CIS.

Sergey Aslanyan, President and Chief Executive Officer, commented: "We are pleased to welcome Mr. Minkovsky to our management team. We believe that the success of technological companies is defined by their ability to independently develop unique products which can meet market demand. Our Company is one of the leading players in the Russian hi-tech sector. We intend to focus our efforts on optimizing the product solutions portfolio, developing new technologies and increasing synergies between SITRONICS' divisions. In his new capacity as Chief Technology Officer, Mikhail Minkovsky will be involved in the development of new competitive technologies and solutions".

Mikhail Minkovsky was born in 1967. Previously, he served as the Head of Technology Architecture Department of Mobile TeleSystems. Mr. Minkovsky held a number of IT positions in several companies in the USA and Russia. From 2001 to 2003, Mr. Minkovsky managed the implementation of the infrastructure platform at Corio Inc., USA, and then headed the Business Technologies department of TNK-BP. From 1997 to 2001, he worked as a senior consultant at PricewaterhouseCoopers. From 1990 to 1997, Mr. Minkovsky worked in the Lebedev Physical Institute of the Russian Academy of Science. Mikhail Minkovsky is a graduate of Moscow Engineering Physics Institute.