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November 11, 2011

SITRONICS takes part in the 5th Russia-India Trade and Investment Forum

Moscow 11 November, 2011 SITRONICS (LSE:SITR), a leading provider of telecommunications, IT and microelectronics solutions in Russia and the CIS, took part in the 5th Russia-India Trade and Investment Forum held on 10 November 2011 in Moscow.

The Forum was sponsored by the Ministry of Economic Development of the Russian Federation and the Ministry of Commerce and Industry of the Republic of India. The Forum is a key event as part of bilateral cooperation between Russia and India. This year, the guests included Deputy Prime Minister Sergey Ivanov, Minister for Commerce and Industry of the Republic of India Anand Sharma, Ambassador Extraordinary and Plenipotentiary of India to Russia Ajai Malhotra, Chairman of the Boards of Directors at JSFC Sistema Vladimir Yevtushenkov and many other representatives from big business and government authorities.

The Forum's main goal is to support development and strengthen trade and economic ties, as well as to attract investments. During the 5th Russia-India Forum, special attention was paid to cooperation in infrastructure, including energy production and distribution, road building and construction of ports and airports. SITRONICS President Sergey Aslanyan took part in a roundtable that focused specifically on partnership in innovations and commercialisation of scientific research and technology.

"India has one of the fastest-growing ICT markets. Reforms and intensive investment activities favour the launching of new projects in key sectors of the Indian economy and increase demand for innovations," said Sergey Aslanyan during the roundtable discussion. "SITRONICS entered the Indian market right after Sistema Shyam TeleServices, an MTS subsidiary in India, was established. We implemented the FORIS billing system for them at that time. But after that, SITRONICS found more partners in India, and thus we now also offer emergency warning systems, modular data processing centres, as well as comprehensive GPS systems for vehicles based on GLONASS/GPS."

Indeed, the number of SITRONICS's Indian partners is constantly growing. A case in point is the memorandum of intent signed by the Company in October of 2011 with Tech Mahindra, one of the largest telecommunications companies in India. Under this agreement, SITRONICS serves as a vendor for OSS/BSS solutions and offers the full range of FORIS products to Tech Mahindra's customers. Tech Mahindra cooperates with all Indian mobile operators as well as with Vodafone Hutchison Australia, British Telecom and Menatelecom (Bahrain), among others.

According to Sergey Aslanyan, there are currently approximately one billion mobile subscribers in India, and the local telecommunications market is rapidly growing, has significant potential for further growth and offers outstanding opportunities for foreign companies to enter it. Therefore, by taking part in the Forum, SITRONICS is contributing to the development and strengthening of trade and economic ties between Russia and India, as well as to the penetration of Russian high-technology products in the local market.




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