Stet Hellas Managing Director Named One of 10 Leading Greek Businessmen

Stet Hellas Managing Director Named One of 10 Leading Greek Businessmen

Italian native honored by Greek award

March 17, 1998

Media contacts:

Steve Fleischer


Hellas Telecommunications SA, Giacinto Cicchese, was honored as one of
1997's top 10 leaders of the Greek business world. Exousia, a leading
national Greek newspaper, recognized Cicchese's innovative approach to
telecommunications and his company's contribution to the improvement
of Greek economic performance in international markets.

In naming Cicchese, Exousia noted that 1997, "was a year of
exceptional performance for STET Hellas as it established its leading
position in the Greek mobile telephony market and reached its highest
market share ever. This is a turning point for the company as its
exceptional performance was accomplished by corporate strategic
actions and the introduction of new products and services."

Exousia (meaning "Power") dedicated its January 3, 1998, issue to
introducing Greece's business elite to the nation's 10.5 million
residents. Mr. Cicchese is the only non-Greek businessman to receive
this award.

Cicchese, a native of Italy, says the honor came as a welcome
surprise. "Our business in Greece is based on the culture of our
shareholders who provide more than two centuries of knowledge about
technology, innovation, and growth," said Cicchese.

"This award is important because it recognizes the success of the
Telestet team and the contribution this company continues to make to
the Greek economy. In 1998, we are committed to staying that course."
Other 1997 Exousia honorees included the President of the Greek
National Bank and the founder of National Insurance Company.

Since beginning one of the country's two GSM (Global System for
Mobile) digital services in 1993, STET Hellas has played a decisive
role in the development and expansion of mobile telecommunications in

Under the commercial name TELESTET, Bell Atlantic's Greek wireless
investment has grown into a national provider, expanding its network
to cover 95 percent of the population and more than 90 percent of the
Greek geography in less than the time required by its license

Over the past two years, Cicchese and his team have continued to lead
the market with new products and services, and a fresh approach to
customer care, pricing, and marketing.

The B Free pre-paid calling card introduced the concept of "no
contract, no monthly fee, no bill service" to the Greek market in
1997. In its first year, the company added nearly 100,000 B Free

Recently, Cicchese and his team also launched new corporate products
including a billing option that combines any number of phones from a
corporate account onto a single bill, offering a variety of levels of
customized calling and billing details.

Telestet's Customer Care innovations include one-call resolution of
billing, service, and technical questions, and a separate staff
dedicated to corporate clients.

TELESTET Exclusives, the company's owned and operated sales and
service centers are unique to the Greek market, giving customers a
one-stop shop that offers a complete selection of wireless options and
a well-trained technical staff.

The success of the company's management led just recently to new
financing from the uropean Investment Bank of 35 billion Drachma
(about US$120 million), the largest financing agreement by that group
for a Greek company.

STET Hellas is a partnership of Bell Atlantic, Stet Mobile Holding NV,
and Interamerican Group.

Bell Atlantic - formed through the merger of Bell Atlantic and NYNEX
- is at the forefront of the new communications and information
industry. With 40.5 million telephone access lines and six million
wireless customers worldwide, Bell Atlantic companies are premier
providers of advanced wireline voice and data services, market leaders
in wireless services and the world's largest publishers of directory
information. Bell Atlantic companies are also among the world's
largest investors in high-growth global communications markets, with
operations and investments in 21 countries.