COSMOTE MOBILE TELECOMMUNICATIONS S.A., announces that it completed today its participation in the share capital of the Romanian mobile operator COSMOROM.

As part of the agreement between COSMOTE, COSMOROM and ROMTELECOM, approved by COSMOTE's Extraordinary General Shareholders' Meeting on 27.6.2005, COSMOTE is participating by 70% in COSMOROM's enlarged share capital, with ROMTELECOM retaining 30%. COSMOTE contributed euros 120 million to COSMOROM's equity capital while all of COSMOROM's liabilities, except for liabilities up to ?18 million, have been capitalized or written-off.