Press Release - 23.01.2003

TELLAS S.A. - The new big telecommunications company of Greece

TELLAS S.A. - The new big telecommunications company of Greece

Today, Thursday January 23 2003, Athens, in Megaro Mela, TELLAS S.A., the new big telecommunications company of Greece, announced its corporate name and presented its logo and launched its activities. Tellas aims at becoming the most important telecommunications carrier after OTE, in the field of fixed telephony and Internet services of the country.

The press conference was attended and greeted by the Minister of Economy and Finance, Mr N. Christodoulakis, the Minister of Development, Mr A. Tsohatzopoulos, and the Minister of Transport and Communications, Mr Chr. Verelis, as well as by PPC's and WIND's Presidents. Representatives of both the Greek political and entrepreneurial community were also present.

TELLAS's Chairman of Board of Directors and PPC's Chief Executive Officer, Mr Nezis, referred to the decision regarding PPC's participation in the particular investment and on its introduction to the telecommunications market in cooperation with the Italian WIND (top-ranking company of fixed, mobile telephony and Internet services in Europe).

He proceeded to a brief presentation of PPC's upward trend and its positive economic results of the last two years, underlying that the substructure, prestige and profitability of the Power Corporation, which is one of TELLAS's basic shareholders, guarantee for a successful entry and course in the field of telecommunications.

TELLAS's Executive Managing Director, Mr. P. Quarenghi, presented the entrepreneurial plan and strategic goals of the new company, which, starting from the beginning of February 2003, will be providing high quality fixed telephony and Internet services to private users (subscribers), freelance professionals, small-medium enterprises, as well as to big companies, at really competitive prices.

The categories of services TELLAS will be providing the Greek market with are the following:

  • Tellas1738: Fixed Telephony Service.
  • TellasWeb: Prepaid Dial-up Access Internet Service for domestic users wishing to connect to the Web.
  • Tellas Call & Surf: Combined Fixed Telephony and Dial-up Access Internet Service for domestic use.

In addition, TELLAS is offering specialized competitive services for domestic users, professionals, small-medium enterprises and big companies.

Through an investment of 650mil.Euro for a ten-year period, TELLAS is aiming at gaining considerable shares in both markets (17% of fixed telephony and 15% of Internet market until 2006). More specifically, TELLAS is targeting at 900.000 telephone lines and 200.000 Internet connections until 2006.

TELLAS's entry in the telecommunications field offers a new perspective to the market, enhances competitiveness and benefits the consuming public as well as national economy.



Athens, 23 January 2003

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