OREANDA-NEWS. July 07, 2010. JSC SITRONICS (SITRONICS or the “Group”) (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, today announced the decisions made at the Annual General Meeting of its shareholders (“AGM”) on June 28, 2010.

The AGM approved SITRONICS’ Annual Report and annual financial statements for 2009, including the profit and loss statement of SITRONICS for 2009, and considered the issues related to the distribution of the profit and loss of SITRONICS upon the results of the fiscal year 2009. The shareholders approved the proposal of the Board of Directors not to pay an annual dividend for the twelve months ended December 31, 2009.

The AGM also approved the election of the members of SITRONICS’ Board of Directors as follows:

- Sergey Aslanian – President, SITRONICS

- Sergey Boev – Vice President, Head of “High Technologies and Industry” Operating Unit, Sistema

- Igor Busarov – Director of the Department of Asset Operations, Sistema

- Sergey Cheremin – Deputy Chairman of the Board, Sistema

- Dmitry Gaev – Head of the Moscow Subway

- Gregor Harter – Vice President of Booz&Company GmbH Germany

- David Khidasheli – Executive Vice President of External Relations Functional Division, Sistema

- Igor Kozlov – Executive Vice President of “High Technologies and Industry” Operating Unit, Sistema

- Kanwal Sibal – Non-Executive Chairman of EADS India

The shareholders approved the election of the members of SITRONICS’ Audit Committee as follows:

- Natalia Demeshkina – Director of Internal Audit Department, Internal Control and Audit Unit, Sistema

- Vasily Platoshin – Chief Accountant, Director of Accounting and Reporting Department, Financial Functional Division, Sistema

- Mikhail Tokun – Head of Audits and External Auditors Relations Directorate of Internal Control and Audit Unit, Sistema

The AGM approved the following changes in the internal documents: the new edition of the Regulation on the Annual General Meeting of SITRONICS’s shareholders; the new edition of the SITRONICS’ Charter.

Deloitte & Touche CIS and Paliy & Sons were appointed as independent auditors for 2010.