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Panafon Hellenic Tel (PFHD)

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Tuesday 04 January, 2000

Panafon Hellenic Tel

Disposal

Panafon Hellenic Telecom Co S.A.
4 January 2000


    PANAFON ANNOUNCES THE SALE OF ANOTHER MANAGEMENT
      INFORMATION SYSTEM: PANAFON BENCHMARKING

Panafon  announces  the  sale of its  information  system
Panafon Benchmarking to Vodafone AirTouch International
Ltd.

Panafon  Benchmarking  is a system  which  enables  the
efficient monitoring of the key performance indicators of
a company.  By using this system, Vodafone AirTouch - the
leading  mobile  operator worldwide -  will  be  able  to
monitor   the   key   performance  indicators   for   its
subsidiaries   worldwide,   which   will   be   gradually
incorporated into the Panafon Benchmarking system.

This  sale  constitutes  another  important  success  for
Panafon,   which   reinforces  the  company's   strategic
decision  to  develop  internally management  information
systems  that  make  a  significant contribution  to  the
company's operating efficiencies. Panafon Benchmarking is
a  part of MANTIS (Management NeTwork Information System)
which  is a system that has already been sold to  and  is
used by VODAFONE U.K. Ltd, by LIBERTEL B.V. (in Holland),
by VODACOM PTY (in South Africa) and by IDEAL TELECOM (in
Greece).

Panafon  Group  Business Development  Director,  Mr  Aris
Hadjiaslanis  commented: Our business strategy  and  the
investments that we have made in infrastructure and human
resources  have made Panafon a considerable international
player  in  the  telecommunications market.   We  aim  to
continue  our  strategy  for  technical  innovation   and
international  expansion backed by the resources  of  our
highly skilled personnel.


For further details please contact:

George Stefanopoulos
Panafon  S.A                  Tel:  +30 1 616 0061

Lulu Bridges
Tavistock Communications,     Tel:  0171 600 2288

Nicolas Bornozis
Capital Link,                 Tel:  + 1 212 661 7566


                                                                                                            

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