The Loan Agreement is Subject to Shareholders Approval

TEL AVIV, Israel, June 19 /PRNewswire-FirstCall/ -- RiT Technologies (NASDAQ: RITT) today announced that it has entered into a convertible loan agreement with STINS COMAN Incorporated ('STINS COMAN'), the largest shareholder of RiT.

According to the loan agreement, STINS COMAN agreed to extend to the Company a loan of up to $10 million. Other key terms of the loan agreement are as follows:

    - At any time beginning with October 1, 2009, RiT may call the
    loan from STINS COMAN, but no more than $5 million at one call (up to a
    maximum of $10 million) and at intervals of at least 30 days between each
    call.
    - The outstanding principal amount will accrue interest at an
    annual rate of 2.47%.
    - The outstanding principal amount and the interest accrued
    thereon are due and payable 36 months following receipt of the funds
    drawn at each call (the 'Maturity Date').
    - The loan is unsecured.
    - STINS COMAN has the right to convert, at any time, the
    outstanding principal amount and the interest accrued thereon, in whole
    or in part, into ordinary shares of RiT at a conversion price per share
    equal to the market price of RiT shares on NASDAQ on the day RiT had
    received the funds, plus a premium of 10%. The conversion is subject to a
    30 days prior notice and to the execution of a definitive purchase
    agreement to be substantially similar to the Securities Purchase
    Agreement entered between the parties, dated September 11, 2008.

Mr. Sergey Anisimov, the Chairman of RiT and the President of STINS COMAN, commented: 'This $10 million credit line, which will be granted to RiT on remarkable terms, especially in the current economic environment, is another indication of STINS COMAN's commitment to RiT. I am confident that this loan will allow RiT the necessary funds to continue to focus on implementing its growth strategies.'

The closing of the transaction is subject to the approval of the Company's shareholders. RiT plans to convene its 2009 annual shareholders meeting in the next few weeks in order to approve, among other things, the loan agreement.