Stet Hellas Announces 79% Customer Base Increase

Stet Hellas Announces 79% Customer Base Increase

797,301 choose Telestet for mobile telephony

April 8, 1999


Media Relations:

Deppie Tzimea-Houliarakis, 00 301 618-6160

Investor Relations:

George Rallis, 00 301 618 6585

ATHENS -- Stet Hellas today announced that its total customer base
increased by 79% for the 12-month period ending 31 March 1999. Net
additions bring the number of Telestet customers in Greece as of 31 March
1999 to 797,301 from 444,244 at the end of the same period in 1998.

Growth in both contract and pre-paid customer bases demonstrated that the
company was off to a fast start for the year -- customer growth in 1Q99
(108,687 net adds) was more than double that of 1Q98 (52,908 net adds).
Customer additions in 1Q99 resulted in a 16% increase over the 1998
year-end, customer base total of 688,614.

Of its new total customer base, the company reported that 446,512 (56%)
were contract subscribers and 350,789 (44%) were customers of the
company's pre-paid service, B Free by Telestet. The 1Q99 growth in B
Free service was 170% greater than in 1Q98. Pre-paid service is an
increasingly popular choice in Greek mobile telephony.

The 1Q99 results reflected the company's strategy of providing services to
targeted customer segments and of enhancing its retail distribution
network in an expanding market. The mobile telephony market in Greece
has more than doubled in the past year to include more than 2 million

As part of its retail expansion plan, the company has entered a strategic
partnership with Germanos, Greece's largest retail telecommunications
products and electronics chain, and continued to establish new
relationships with a number of independent dealers. Also, Telepolis, the
company's wholly owned subsidiary, is developing an exclusive network
of Telestet franchise dealers, including 10 company-owned stores.

Stet Hellas Telecommunications S.A. is at the forefront of the mobile
communications industry in Europe. To its growing base of more than
797,000 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: For more
information, visit the Stet Hellas web site at www.telestet.gr.