On Friday August 3rd 2001, FORTHnet signed a telecom network interconnection agreement with the Organization of Telecommunications of Greece, for the provision of services on fixed telephony for business clients as well as residential users.

FORTHnet was already awarded by the NTPC a license for these services since April 2001, and it will provide an opportunity to fixed telephony users, through the 4 digit access number 1789, to use its advanced network so they can complete international, national and residential calls at competitive prices. The fixed telephony services will also be provided alternatively through usage of the private wireless local loop network that FORTHnet Group is completing at this time, utilizing the license at 26 GHz that was awarded last December through its subsidiary company MBA (60% Telecom Italia Group, 40% FORTHnet).

The provision of services on fixed telephony by FORTHnet, after the recent interconnection agreement with OTE, will begin immediately since the installation of all required technological infrastructure for the project implementation is already in the completion phase. In the beginning the services will be provided at businesses and high-end residential users and afterwards to all users covering eventually the whole country.

The agreement is annual with potential of renewal, while the final pricing policy that will establish the interconnection fees, will be inscribed according to the jurisdiction of the proper Authorities. FORTHnet believes that this development will lead to the actual liberation of the telecommunications market and eventually to the creation of a truly competitive environment.

The provision of voice services to the subscribers of FORTHnet will be implemented according to the agreement that was recently signed with SIEMENS, for the development of the necessary infrastructure. The integrated solution that SIEMENS offered is based on the SURPASS technology and includes the designing, installation, management and operation of the project, the provision of consultation services as well as maintenance and training services. With SURPASS technology, the provision of voice and data services will be insured, from the same access line (leased line or wireless local loop) and the provision of closed user group services or virtual networks for businesses. For the residential users, the provision of voice services will be made available by choosing a provider with either a contract or prepaid cards.

By the end of 2001, FORTHnet will be able to provide advanced voice services to its subscribers, making yet another step to accomplish its basic goal to become a fully integrated telecommunications provider.