2Q99 Telestet Customer Growth Double 2Q98

2Q99 Telestet Customer Growth Double 2Q98

928,034 now choose Telestet for mobile telephony

July 7, 1999


Media Relations:

Deppie Tzimea-Houliarakis


Investor Relations:

George Rallis


Athens, Greece -- Stet Hellas Telecommunications, S.A.
announced today that more than twice as many customers chose Telestet
for mobile telephony in Greece in the second quarter of 1999 than in the
same period last year.

Customer net additions in the second quarter of 1999 totaled 130,733,
compared to 59,791 in the second quarter of 1998, growth of 118.6%.

For the first six months of 1999, the company reports its base increased by
34.8%, bringing the total number of Telestet mobile telephony customers
to 928,034 as of June 30, 1999. For the 12-month period ending June 30,
the total number of customers grew by 84.2%. Telestet reported 504,035
customers at the end of the second quarter of 1998.

The most rapid growth has been in the company's prepaid service, B Free
by Telestet. By the end of the second quarter, 49.4% (458,157) chose B
Free, and 50.6% (469,877) were contract customers. Since the
introduction of B Free by Telestet in 1997, prepaid service has become the
fastest growing segment of the Greek mobile telephony market.

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Stet Hellas Telecommunications S.A. is at the forefront of the mobile
communications industry in Europe. To its growing base of 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. The company's stock is publicly traded on the NASDAQ (STHLY)
and the Amsterdam (STHLS) exchanges. Internet users: Visit our new
web site at www.teletset.gr.