INTRACOM S.A. HOLDINGS

INTRACOM S.A. discusses possible cooperation with SISTEMA Group

Following the relevant statement of the representative of SISTEMA GROUP on 24 October 2005, INTRACOM S.A. confirms herewith that is currently in discussions with SISTEMA GROUP in order to explore the possibilities of a cooperation in the Telecommunications Solutions sector. INTRACOM will inform shareholders and the investing public should new developments arise on the said issue.