INTRACOM announced that an agreement was finally reached with VODAFONE GROUP Plc for the transfer to the latter of the former's capital share participation in VODAFONE-PANAFON.

The agreed, between the two parties, price amounts to 6,18 euros/share (closing price of 25/11/2003: 6,10 eyuros/share). Thus, the total expected income for INTRACOM will reach the amount of 316.725.000 euros. Both companies underlined that they will continue their fruitful and constructive cooperation in the future as well.

As a result of this transaction, INTRACOM will release significant capitals, which will benefit not only the future growth of the company but its shareholders as well. Furthermore, INTRACOM's financial situation will significantly be strengthened considerably through the immediate reduction of its bank loans and the increase of its shareholders equity.