News Release

Telestet Adds Action Stores To Retail Network

18 New Outlets Include Virgin Megastores

November 18, 1999

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

Investor Relations:
George Rallis
+301 618 6585

ATHENS — Dionic, the new technology and computer equipment distributor, has agreed to sell Telestet brand mobile telephony products and services exclusively at its 18 Action Stores in Greece, STET Hellas Telecommunications S.A. announced today.

The agreement creates the possibility for future distribution of Telestet products and services through other retail outlets served by Dionic's national distribution network. Action Stores, which specialize in new technology and computer merchandise, are located in major cities and towns throughout the country, including 11 outlets in Virgin Megastores.

"Dionic is a dynamic new partner that will contribute to the further development of our retail distribution network," said Patrick Knight, Stet Hellas's Executive Director for Consumer marketing. "Telestet aims to ensure that its customers will find its services wherever and whenever they like."

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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