Vodafone-Panafon total fixed to mobile interconnection charges reduced by up to 59.5% during 2003

Vodafone-Panafon announces today further reductions in termination charges for phone calls originating from fixed networks and terminating on the Vodafone - Panafon network, with effect from 1 January 2004. This initiative is indicative of the customer oriented strategy that Vodafone - Panafon has pursued since it began operations in the Greek market.

In particular, fixed to mobile termination charges will be reduced from 0.175 euros per minute to 0.170 euros per minute. In parallel, the minimum charging period will be reduced from 33 seconds to 30 seconds. The new price reductions provide escalating benefits up to 12 % for phone calls up to 30 seconds. Total price reductions during the year 2003 reach up to 59.5%, reflecting the considerable value offered to Vodafone customers.

This price reduction is the third reduction in fixed to mobile termination charges that Vodafone-Panafon has initiated during the last twenty months, showing that Vodafone offers services and products at the best possible prices.