completion of the 3G auction Panafon-Vodafone announces that its participation in the recently conducted Greek 3G auctions has been successfully completed. In addition, Panafon - Vodafone participated in the auxiliary auction for additional spectrum and was awarded 2x20+5 MHz of continuous spectrum at the price of 176,376,199 euros, an average price of 8.8 euros per MHz (paired spectrum). The price paid was only 0.17% higher than the minimum price set by the National Telecommunications and Post Committee.

Panafon-Vodafone now holds wider spectrum than any other of the auction participants and paid a smaller price on a per Mhz basis. This gives Panafon-Vodafone a leading position for the development of advanced third generation services.

Once more Panafon - Vodafone has proven its commitment to making significant investments in Greece. This demonstrates its commitment to developing innovative services including video streaming.

Panafon-Vodafone management believes the successful outcome of these auctions will enable it to continue to lead the Greek market as it has done from the beginning of its operations.