ClearWave Extends Offer to Purchase 186,560 of its Class A Subordinate Voting Shares.

AMSTERDAM, The Netherlands -- ClearWave N.V. (or "ClearWave") (NASDAQ:TIWI)(TSX:TIW) announces that it has given proper notice to the depository to extend its offer to purchase 186,560 of its outstanding Class A subordinate voting shares (the "ClearWave Shares") for CDN$ 16.64 in cash per share (the "Offer"). The Offer will expire at 5:00 p.m., Montreal time, on July 15, 2004 unless further extended or withdrawn. The other terms of the Offer remain unchanged. On June 28, 2004, shareholders of ClearWave approved by a majority of the votes cast at a duly convened shareholders meeting, the Offer launched by ClearWave. As of June 30, 2004, 161,236 ClearWave Shares have been tendered under the Offer.

This press release is for information purposes only and does not constitute an offer or solicitation with respect to the purchase or sale of any security in Canada, the United States or in any other jurisdiction.Securities may not be offered or sold in the United States or in any other jurisdiction absent registration, qualification by prospectus or an exemption from those requirements.

About ClearWave

ClearWave owns through a wholly-owned subsidiary, MobiFon Holdings B.V., 63.5% of MobiFon S.A, its operating subsidiary in Romania.ClearWave also owns 27.1% of TIW Czech N.V., the holding company through which it owns 99.9% of Cesky Mobil a.s., its operating subsidiary in the Czech Republic.

About TIW

TIW is a leading provider of wireless voice, data and short messaging services in Central and Eastern Europe with more than 5.6 million subscribers. TIW operates in Romania through MobiFon S.A. under the brand name Connex and in the Czech Republic through Cesky Mobil a.s. under the brand name Oskar. TIW's shares are listed on NASDAQ ("TIWI") and on the Toronto Stock Exchange ("TIW").

www.tiw.ca