News Release

Telestet "Morning Talk" Offers Lowest A.M. Rate

October 18, 1999

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

Investor Relations:
George Rallis
+301 618 6585

ATHENS — STET Hellas Telecommunications S.A. today announced the launch of B Free by Telestet "Morning Talk," a new pre-paid tariff that offers the lowest morning rates in the market.

Morning Talk provides a new choice for mobile telephony customers who make most of their calls before and during the morning rush hour and prefer the pre-paid option. A 30-second Morning Talk call is one-third the cost of a regular B Free call.

The Morning Talk rate is 0.9 drachmas per second from 5 to 10 a.m., and 2.9 drachmas for calls placed after 10 a.m. and before 5 a.m. All Morning Talk calls are charged in 30-second units as well as a 30-drachma set-up charge. The package is Telestet's fourth pre-paid tariff.

The new tariff is in line with the company's strategy of appealing to different customer segment needs and the trend in the Greek market toward pre-paid service. Last month, Stet Hellas announced that 56 percent of its Telestet customers are choosing pre-paid service.

Stet Hellas Telecommunications S.A. is at the forefront of the mobile communications industry in Europe. To its growing base of more than 1 million 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, and its stock is publicly traded on the NASDAQ (STHLY) and Amsterdam (STHLS) exchanges. Internet users: Visit our NEW web site at www.telestet.gr.

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