SSA: JSFC Sistema: Acquisition

UK Regulatory Announcement
& ATHENS, Greece 
June, 22, 2006 
Sitronics and Intracom Holdings 
Announce That They Have Reached a Final Agreement 
Moscow, Russia and Athens, Greece - June, 22, 2006 - Following their joint
announcement of February, 13, 2006, SISTEMA (LSE:SSA) and INTRACOM HOLDINGS SA
(ASE:INTRK), Concern SITRONICS, the technology arm of SISTEMA and INTRACOM
HOLDINGS announce that today they have reached a final agreement for the
acquisition by Concern SITRONICS of a 51% stake in INTRACOM TELECOM for EUR 120
million. The stocks transfer is expected to take place by June 30, 2006. 
INTRACOM TELECOM is a fully owned subsidiary of INTRACOM HOLDINGS providing
complete telecommunications solutions and services in the EEMEA (Eastern Europe,
Middle East and Africa) region. INTRACOM TELECOM, through its R&D activity, has
developed and manufactured a full portfolio of advanced technological products
in the areas of broadband fixed and wireless access and transmission systems, as
well as content delivery systems (IPTV, triple-play). 
Concern SITRONICS will integrate the company into its Telecom Solutions
Division, whose primary focus is currently on switching equipment, billing
systems and NGN, aiming to achieve full scale synergies from INTRACOM TELECOM's
complementary product lines, system integration capabilities and customer base. 
For further information, please visit,, or contact:
SITRONICS Public Relations                  SISTEMA Investor Relations                    Shared Value Limited
Elena Sanarova                              Alexei Kurach                                 Matthew Hooper
Tel: +7 495 225 0030                        Tel: +7 495 629 2741                          Tel. +44 (0) 20 7321 5023                                
INTRACOM HOLDINGS                           INTRACOM HOLDINGS                             INTRACOM HOLDINGS
Dimitris Klonis                             Manolis Terrovitis                            Ioannis Mantzaris
General Manager,                            Finance Department                            Investor Relations
Executive Member BoD
Tel:+30-210-667 1991                        Tel: +30-210-667 1081                         Tel: +30-210-667 9902                                       
Christina Geronicola                        Vivian Tsamadou
Communications Director                     Media Relations Manager
Tel: +30-210-667 4747                       Tel: +30-210-667-7121  
Sistema is the largest private sector consumer services company in Russia and
the CIS, with over 60 million customers. Sistema portfolio includes
market-leading businesses in selected service-based industries, including
telecommunications, technology, insurance, banking, real estate, retail and
media. Founded in 1993, the company reported in 2005 revenues of US$ 7.6 billion
and total assets of US$ 13 billion. Sistema's shares are listed under the symbol
"SSA" on the London Stock Exchange, under the symbol "AFKS" on the Russian
Trading System (RTS), and under the symbol "SIST" on the Moscow Stock Exchange
Concern SITRONICS, headquartered in Moscow, Russia is the technology arm of
Sistema active in four core segments: Telecom equipment manufacturing & software
development (Telecom Solutions), Information Technologies, Microelectronic
Components, Consumer Electronics. Founded in 1997, the company reported in 2005
reveneus $954,9 mln and total assets $567,8 mln. SITRONICS has production
facilities in Moscow, Kiev, Prague and several other East European cities.
Sitronics has 6 700 emploees. Its products are sold in Western and Easter
Europe, Russia and CIS, North America, Middle East and South-East Asia. 
INTRACOM SA was founded in 1977, has been listed on the Athens Stock Exchange
since 1990, and is included in the FTSE/ASE-20 LargeCap index. On December 2005,
the Group reorganized, creating INTRACOM HOLDINGS, one of the largest Greek
multinational holding Groups, active in telecommunications, e-government,
banking and enterprise, defense electronic systems, and construction. The
employees, exports to 60 countries, and operates subsidiaries in 19 countries. 
INTRACOM TELECOM is a subsidiary of INTRACOM HOLDINGS. The company is a leading
telecommunications equipment vendor and solutions provider for fixed and mobile
operators. The company delivers end-to-end future proof solutions, implements
large-scale turn-key projects and provides a wide range of professional and
outsourcing services to telecommunications operators. INTRACOM TELECOM operates
subsidiaries in 12 countries and, together with them, is active in more than 50
countries, strategically aiming to the area of South Eastern Europe, Middle East
and North Africa. 
Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Sistema. You can identify forward looking statements by terms
such as "expect," "believe," "anticipate," "estimate," "intend," "will,"
"could," "may" or "might" the negative of such terms or other similar
expressions. We wish to caution you that these statements are only predictions
and that actual events or results may differ materially. We do not intend to
update these statements to reflect events and circumstances occurring after the
date hereof or to reflect the occurrence of unanticipated events. Many factors
could cause the actual results to differ materially from those contained in our
projections or forward-looking statements, including, among others, general
economic conditions, our competitive environment, risks associated with
operating in Russia, rapid technological and market change in our industries, as
well as many other risks specifically related to Sistema and its operations. 
JSFC Sistema
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