STET Hellas Telecommunications SA: Tribunal Arbitration Award on the Mobitel Case is Issued.

ATHENS, Greece -- STET Hellas Telecommunications S.A. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : STHLY; Amsterdam: STHLS) today announced that the International Court of Arbitration The International Court of Arbitration is an institution for the resolution of international commercial disputes. The International Court of Arbitration is part of the International Chamber of Commerce. of the International Chamber of Commerce ("the Tribunal") reached its decision regarding the arbitration between STET Hellas, Mobitel Electronics and Telecommunications Systems Commercial S.A. ("Mobitel") and its parent Interamerican Group.

Out of its total claim of approximately USD USD

In currencies, this is the abbreviation for the U.S. Dollar.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 147.4 million, Mobitel was awarded with USD 19.0 million-- net of USD 1.8 million awarded to STET Hellas. To this amount interest and legal expenses of USD 18.9 million are added, bringing the total sum to USD 37.9 million.

The company's net income for the year ending December 31, 2004 will not be significantly affected by this development, since the majority of the amount to be paid was already provisioned in prior years' balance sheets.

STET Hellas Telecommunications SA (Nasdaq: STHLY; Amsterdam: STHLS) is at the forefront of mobile communications in Europe

For more information, see these articles about Communications in Europe.

• • [ and its TIM brand stands for innovative products and services. The company's majority shareholder is TIM International NV of the Telecom Italia Group (NYSE NYSE

See: New York Stock Exchange : TI), and its stock is publicly traded on the Nasdaq and Amsterdam exchanges.

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Publication:	Business Wire
Geographic Code:	4EUGR
Date:	Sep 6, 2004
Words:	192
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