Telestet Adds Action Stores To Retail Network

Telestet Adds Action Stores To Retail Network

18 New Outlets Include Virgin Megastores

19 November 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.