Investor Relations - 31.01.2003

Start up of commercial operation of TELLAS S.A.


We would like to inform you that "TELLAS S.A.", the new telecommunications company in the field of fixed telephony and Internet services, will start up the commercial operation on Monday, the 3rd of February 2003.

This particular investment is a joint venture between PPC S.A. with 50% minus one share and the Italian WIND with 50% plus one share.

PPC S.A. till now has invested the amount of 36,760,086.00 Euro.

Athens, 31 January 2003
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