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Panafon Hellenic Tel (PFHD)


Thursday 18 January, 2001

Panafon Hellenic Tel

Panafon Launches GPRS

Panafon Hellenic Telecom Co S.A.
18 January 2001

  PANAFON the first company to implement GPRS technology in

PANAFON-VODAFONE  announces  the  launch  of  GPRS  (General
Packet  Radio Service) system, services in Greece, following
the   completion  of  successful  commercial   trials   with
corporate customers.

GPRS technology will provide Panafon-Vodafone customers with
high-speed  data transfer capabilities, by employing  packet
switched techniques, similar to that of the Internet.

Pilot  tests  were  conducted  with  a  group  of  corporate
customers by placing sales orders accessing their respective
corporate   networks,   using   handsets   supporting   GPRS

Along  with  the provision of services such as e-mail,  file
transfer and access to corporate networks, GPRS may be  used
for  the  provision  of  generic WAP based  information  and
entertainment services addressed to the entire customer base
of Panafon.

Thanks  to  the  GPRS technology, corporate  customers  will

*   Significant reductions in operational costs as they will
be  charged  according to data 'volume' and  not  connection

*   Increased capability to exchange data from any place  at
any  time  at  speeds  significantly  faster  than  existing

*   Improved  productivity of their personnel  in  mobility,
thanks  to the 'Always on' feature of GPRS, which will  help
them eliminate the repetitive process of reconnecting to the
network each time they need to send data.

Panafon-Vodafone  will be the first Greek  and  one  of  the
first   European  mobile  telephony  companies,  to  provide
services based on GPRS technology.

For Further Information Contact:

George Stefanopoulos
Panafon  Group  Investor  Relations  Executive  
Tel:   +301 6160406,
[email protected], website

Lulu Bridges,
Tavistock Communications
Tel:  +(44) 20 7600 2288

Nicolas Bornozis ,
Capital Link
Tel: + (212) 661 7566

Notes to Editors:

1.  Panafon's shares are quoted on the Athens Stock Exchange
and  its GDSs are quoted on the London Stock Exchange.   The
shares and GDS's began trading on Monday 7 December 1998  in
ASE and LSE respectively.

2.  Panafon has 512,500,000 shares in issue.

3.  Panafon is a shareholder in:
     Panafon Emporiki (previously Panavox)100.00 per cent
     Panafon Services                     100.00 per cent
     Panafon Multimedia                   100.00 per cent
     Next Net                             26.11 per cent
     Unifon                               19.56 per cent
     Mobitel                              25.01 per cent
     Citicom                              11.518 per cent
     Ideal Telecom                        51.00 per cent
                                          completion of all
                                          legal procedures)
4.   Panafon was awarded a license to operate a GSM  network
in  Greece  for  a period of 20 years in August  1992.   The
network commenced operations on 1 July 1993.

5.  Panafon's shareholding structure is as follows:
     Vodafone Group Plc       55 per cent
     France Telecom            3 per cent
     Intracom S.A.            9.1 per cent
     Free float               32.9 per cent

PANAFON listings:
Shares:  Athens  SE,  Reuters PANr.AT.  Bloomberg  PANF  GA.
Nominal value GRD 100. ISIN GRS 307 333 005. SEDOL 556 0349.

GDRs: LSE . Reuters PANq.L. Bloomberg PFH GR, PFHD LI.  ISIN
US 6981 132 060. SEDOL 556 0361.
Rule  144A: Bloomberg Nasdaq 2250Q US. ISIN US 6981 131 070.
SEDOL 230 2629

Indices:  Greece  ASE composite (ASE):  6.539%,  Greece  ASE
industrial (ASEIND): 16.254%, FTSE/ASE 20: 2.827%, Bloomberg
Europe  (BE500): 0.059%, BE500 TELECOM (BETELES): 0.459,  DJ
FTSE  EUROTOP 300 (E300): 0.016%, FTSE E300 TELECO (E3TELE):
0.135%, BBG EUROPE TECHN (BETECH): 0.387.



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