News Release

Telestet B Free "Afternoon" Offers Lowest P.M. Rate

November 22, 1999

Media Relations:
Deppie Tzimea-Houliarakis
011.301.618.6160

Investor Relations:
George Rallis
011.301.618.6585

ATHENS — STET Hellas Telecommunications S.A. today announced the launch of "Afternoon," a new wireless prepaid tariff from B Free by Telestet that offers the lowest afternoon rates in the Greek market.

Afternoon offers prepaid customers the opportunity to call more, and pay less per call, in the afternoon. For example, a one-minute call between 2 p.m. and 6 p.m. period is less than one-third the cost of a regular B Free prepaid call during the same time.

The Afternoon rate is 1.1 drachmas per second from 2 p.m. to 6 p.m., and 2.9 drachmas per second for calls during the rest of the day. All Afternoon calls are charged in 30-second units and incur a 30-drachma set-up charge.

The new tariff is in line with the company's strategy of appealing to different customer segment's needs and the trend in the Greek market toward prepaid service. Last month, Stet Hellas announced that by the end of September 56 percent of its customers were using prepaid service.

B Free is the only wireless prepaid service to offer tariff plans based on lifestyle needs. The first lifestyle tariff was "Morning Talk," launched last month offering the lowest morning prepaid rate.

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 (NYSE: BEL) 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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