COSMOTE To Invest EUR 35M in 3G Network

Europe : COSMOTE MOBILE TELECOMMUNICATIONS S.A., the leading provider of mobile telecommunication services in Greece, announces that its Board of Directors has selected in today's meeting its main vendor for the first phase of 3G deployment.

Following the completion of the respective bidding process, that included extensive functionality trials and interoperability tests, Ericsson, who submitted the most competitive offer, was chosen as COSMOTE's main supplier for the first phase of its 3G rollout.

The total approved 3G capital expenditure until the end of 2004 amounts to approximately EUR 35 million, part of which includes technology infrastructure to be provided by Ericsson. At the same time the Company will be closely monitoring the technological and commercial developments regarding 3G in the sector.

According to its business plan, COSMOTE will deploy its 3G network pursuant to its license requirements, will develop new advanced high speed and innovative products and services, and shall also provide specific enhanced 3G services especially for the ATHENS 2004 Olympic Games.

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The total approved 3G capital expenditure until the end of 2004 amounts to approximately EUR 35 million, part of which includes technology infrastructure to be provided by Ericsson.

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This applies to all network types including GSM/GPRS, CDMA, 1xRTT, UMTS and WLAN, covers all services types including voice, data and premium content, and all payment options including pre-paid, post-paid and converged payment approaches.