In response to the Athens Exchange's letter dated 8.9.2006, GERMANOS S.A. clarifies that the transitional concluding cooperation agreement with the mobile telephony company TIM sets the final termination of the two companies cooperation on May 1st 2007, following the full completion of GERMANOS SA's acquisition by COSMOTE until the aforementioned date. Subsequent to the termination of the cooperation, both parties cease to have any liability, claim or demand from or induced by the agreement, including the payment of any commission-fee. In the intermediate period, GERMANOS S.A. will continue to represent and distribute TIM's products and services apart from the upgrading and renewal of existing subscribers - contracts in exchange for a fee, based on the agreed sales targets. GERMANOS considers that it will be in a position to replace the income that emerged from its cooperation with TIM Hellas through other activities and flows, which will arise from the Company's integration in the commercial strategy of the HTO Group and COSMOTE.