VODAFONE - ΠΑΝΑΦΟΝ Α.Ε.Ε.Τ.

Vodafone-Panafon total customer base 3,041,912 up 21.3% year on year

Vodafone-Panafon announces its total registered customer base as at 30 June 2002 reached 3,041,912 customers, a 21.3% increase compared to June 2001. Total net additions for the quarter were 76,108.

Vodafone-Panafon achieved a 40% market share of this quarter's total net postpaid additions by adding 31,656 customers, the majority in the market for this quarter.

This reflects the preference Greek customers show to Vodafone-Panafon's attractive tariff plans and the competitive bundled-minutes tariff packages, as well as the success of the Vodafone shops.

At the end of the period, prepay customers totaled 2,189,829 representing 72% of the total customer base while postpaid customers reached 852,083 representing 28% of the total customer base.

Blended churn for the quarter reduced to 5.6% compared to 5.8% in the previous quarter. Postpaid churn improved to 8.6% from 9% the previous quarter, while prepaid churn remained stable.

Vodafone·Panafon's active (Inactive customers are those who did not generate revenue in the last 3 months.) customer base improved by two percentage points at 78% as at 30 June 2002 compared to the previous quarter. Activity improved both in postpaid and prepaid. Only 8% of the postpaid base was inactive while 27.5% of the prepaid base were inactive.

Vodafone (Albania)( Vodafone (Greece) holds 49% of the share capital of Vodafone (Albania), while Vodafone International Holdings BV has 51%.) , announced a total customer base for the quarter ended 30 June 2002 of 216,993 customers, with prepaid representing the majority (213,171). Net additions for the quarter reached 47,511 reflecting the Albania market dynamics and the successful company positioning. On 30 June 2002, Vodafone (Albania) had built a market share of 37.6% in less than a year of operation.