Further to its letter of the 16th June 2005, Info-Quest S.A. would like to announce the following:

1. It received yesterday, July 12th, a non-binding offer from certain interested foreign institutional investors for the sale of its telecommunications business area, Q-Telecom, which is due to be spun-out of Info-Quest and to operate as an independent company. The indicative offered price for this transaction is two hundred and fifty million euros.

2. According to the above mentioned offer, negotiations towards an agreement must take place between the counterparties on an exclusive basis in the immediate future and are anticipated to be concluded within August 2005.

3. Provided that these negotiations come to a successful conclusion and the appropriate resolutions are passed by the relevant corporate bodies, the implementation of the relevant contracts will take place subsequent to the issue of all legally required decisions and/or the granting of all legally required licences by the appropriate supervisory authorities.