TELESTET Launches Greece's First 3G Service with Nokia's WCDMA Network; Nokia Provided the WCDMA 3G Network under an Agreement Announced Last April.

Business Editors/High-Tech Writers

HELSINKI, Finland--(BUSINESS WIRE)--Jan. 27, 2004

TELESTET has brought commercial 3G service to Greece with the launch of the country's first WCDMA network, enabling top-of-the-line mobile services such as advanced multimedia messaging, high-quality streaming, browsing and video calls at speeds of up to 384 kpbs. As the supplier of TELESTET's network, Nokia has played a key role in the realization of this landmark network launch, which is initially taking place in the greater Athens, Thessaloniki, Patra and Irakleion areas with other major cities to follow soon. Previously, TELESTET and Nokia also jointly demonstrated Greece's first public WCDMA 3G demo in June.

"Today is an important milestone in the evolution of mobile services in Greece and it is fitting that TELESTET -- as Greece's pioneer of innovative telecommunications solutions, is first to commercially launch 3G services," said Mr. Nikolaos Varsakis, Managing Director and Chief Executive Officer of TELESTET on January 22nd, the 3G launch date. "In line with our strategy of grasping new opportunities for continuous profitable growth, we will remain at the forefront of Greece's mobile telephony, fully exploiting all the benefits of this new technology, not only for our customers but also for our business."

The launched WCDMA 3G network uses equipment provided by Nokia under an agreement announced last April. Included in the agreement was a complete radio-access and core network and Operations Support System (OSS), plus the implementation, optimization and care services that were instrumental in achieving fast and smooth network roll-out.

In addition, Nokia is providing its operations start-up package to support TELESTET in starting and developing its operations competencies and procedures for the network. The package, which uses the Nokia NetActa network and service management system, includes remote monitoring as well as locally delivered operations support and capability transfer.

The new WCDMA services can be accessed utilizing the advanced mobile devices such as the Nokia 6650 and Nokia 7600, now available in the retail outlets of TELESTET in Greece.

"It is indeed an important achievement for TELESTET, the whole TIM group and the Greek mobile market," says Mr. Roberto Loiola, Vice President, Networks, Nokia. "And we are extremely pleased to have been central to making this happen - with quality Nokia products and efficient implementation. The fact that Nokia has now supplied seven out of the 13 commercial WCDMA networks currently launched worldwide, highlights that Nokia's WCDMA 3G solution is the very best technology for innovative and enriching services."

TELESTET, the brand name for STET Hellas Telecommunications SA is at the forefront of mobile communications in Europe. To its growing base of more than 2.7 million customers in Greece, the company offers some of the most innovative products and services in the market. TELESTET acquired a license for deploying 3G network and services in July 2001.

TELESTET's majority shareholder is TIM International NV of the Telecom Italia Group (NYSE: TI), and its stock is publicly traded on the NASDAQ and Amsterdam exchanges (NASDAQ: STHLY; Amsterdam: STHLS)

Nokia is the world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia is dedicated to enhancing people's lives and productivity by providing easy-to-use and secure products like mobile phones, and solutions for imaging, games, media, mobile network operators and businesses. Nokia is a broadly held company with listings on five major exchanges.

Notes to Editor:

The Nokia operations start-up package includes remote monitoring as well as locally delivered operations support and capability transfer. The Nokia NetActa is the only fully-featured, multi-vendor, multi-technology operations support system on a single platform.