News Release

Stet Hellas Announces New Competitive Rates For Popular Pre-Paid B Free by Telestet Service

February 14, 1999

Media Relations:
Deppie Tzimea-Houliarakis
00 301 618-6160

Investor Relations:
George Rallis
00 301 618 6585

Athens — Stet Hellas Telecommunications S.A. today announced competitive new rates for its pre-paid service in Greece.

With a redesigned rate plan, B Free by Telestet now offers customers lower charges for peak calling and the new off-peak rate maintains Telestet's advantage as provider of the lowest off-peak rate in Greece's pre-paid market.

The new per-second rates are 3.6 GRD (Greek drachma) peak and 2.7 GRD off-peak (1GDR=approx. $USD.0035).

In addition, customers now have per-second billing that begins with the first second of the call, with a 20 GRD setup charge. Telestet's previous rate plans contained a 30-second minimum. B Free continues as the only pre-paid service with sender-originated Short Message Service; customers also have 13 other value-added services from which to choose.

A new television advertising campaign heralds the new B Free plan and its advantages.

Pre-paid service is the fastest growing segment of the mobile telephony market in Greece. Stet Hellas' B Free customer base grew by 223 percent in 1998.

Stet Hellas Telecommunications S.A. is at the forefront of the mobile communications industry in Europe. To its growing base of more than 688,000 customers in Greece, the company's Telestet brand stands for innovative services and the latest in communications technology. The company's shareholders include Stet Mobile Holdings NV, Bell Atlantic and the Interamerican Group. Its stock is publicly traded on the NASDAQ (STHLY) and Amsterdam (STHLS) exchanges. Internet users: Visit the Stet Hellas web site at www.telestet.gr for more information.

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