Regarding your letter (mentioned above), please note the following: During the recent 1st Repetitive Extraordinary General Meeting of the shareholders of our company, the Chairman of the Board of Directors Mr. Sokratis Kokkalis mentioned the possibility of investing in wireless telephony in Turkey. This reference was included in our Company's Press Release, to which you are referring in your letter.

Regardless of the exact wording of what was orally elaborated during the General Meeting, or of the way it was presented in the Press, the fact is that our Company is currently in talks with Vodafone regarding the acquisition, either directly or through a foreign company fully controlled by us, of an option to participate in Telsim. Our Company is exploring this possibility, and when it reaches definite final decisions, will proceed to the relevant announcements.

Furthermore, regarding the issue of the cooperation with SISTEMA SA, we would like to inform you that the relevant contacts and discussions between the two sides on the possibilities of cooperating in the telecommunications field, have not as yet been completed. As we have already announced, all options and all kinds of cooperation are being examined. As soon as the relevant decisions are reached, or significant developments take place, regarding what has already been announced, our Company will promptly proceed to the publication of any such decisions or developments.