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Panafon Hellenic Tel (PFHD)


Monday 18 February, 2002

Panafon Hellenic Tel

Result of EGM

Panafon Hellenic Telecom Co S.A.
18 February 2002

                                PRESS RELEASE

                              18 February 2002

               Extraordinary Shareholders General Meeting:

                        Approval for the change of name

Panafon Hellenic Telecommunications Company S.A. announces that its shareholders
extraordinary general meeting, held Monday 18 February 2002, approved the change
of legal name to Vodafone - Panafon Hellenic Telecommunications Company S.A and
distinctive title to Vodafone - Panafon, with the amendment of article 1 of the
Company's Articles of Association. The company's brand name will remain Vodafone
as has previously been announced. This change is subject to final approval from
the Ministry of Development.

Speaking at the EGM, CEO Mr. George Koronias said, 'The change in the company's
legal name completes the rebranding process that started with the change of the
commercial brand. This change is in line with Vodafone Group's global strategy:
to make its brand name among the 10 most recognisable brand names in the world.'

This change reflects the success of the company's commercial strategy and
signifies the beginning of a new era for the company's operations in Greece
under the brand name: Vodafone.

Vodafone Group has a presence in 28 countries worldwide with more than 100
million proportionate customers. Vodafone's successful operation is based on the
vision to be the leading mobile telephony company worldwide, bringing more
services and more value to more people than ever before.

The EGM approved the signing of the license agreement with Vodafone Group Plc
for the use of the brand name Vodafone.

The EGM also approved the granting of new share options ('GEM OPTIONS') by
Vodafone Group Plc to the employees of the company.


For Further Information Contact:

Dimitris Tsorbatzoglou Head of Investor Relations Tel: +301 6160019
[email protected], website

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

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

Notes to Editors:

1.        Panafon S.A 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.  Despite the
company adoptiing the Vodafone brand name on 21 January 2002, the company's
shares remain listed under the company's legal name of Panafon S.A.

2.        Panafon S.A has 534,126,396 shares in issue (after the completion of
the merger with Panafon Emporiki and Unifon on May 11th 2001).

3.        Panafon S.A is a shareholder in:

Panafon Services                        100.00 per cent

Panafon Multimedia                      100.00 per cent

Next Net                                20.10 per cent (is in the process of 
                                        merger with Panafon S.A)

Mobitel                                 25.01 per cent

Ideal Telecom                           51.00 per cent

Panafon International Holdings          100.00 per cent

BE- Business Exchanges                  30.00 per cent

Vodafone Bulgaria                       20.00 per cent

I.N.A                                   10.555 per cent

CBS                                     24.00 per cent

E-Motion                                100.00 per cent

ACOM                                    16.00 per cent

Tetoma Com                              100.00 per cent (merger completed 
                                        January 2002)

E-Unifon                                50.00 per cent

E-Motion Albania                        51.00 per cent

E-Motion Cyprus                         100.00 per cent

E-Kinitron                              2.00 per cent (49% through E-motion 

4.        Panafon S.A 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.A shareholding structure is as follows:

Vodafone Group Plc     52.8 per cent

France Telecom         11.0 per cent (includes 8.12% exchangeable bond 
                       exchanged to Panafon shares)

Intracom S.A           9.6 per cent (after the completion of the merger  
                       Intracom - Intrasoft)

Free float             26.6 per cent

Panafon S.A 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: ASE General Index composite (ASE): 4.663%, ASE Telecom Index (ASEDTL):
24.156%, FTSE/ASE 20 INDEX ( FTASE) : 3,401%, DJ EUROPE ST TEL (SXKP): 0.0.152%,
BE500 Bloomberg Europe: 0.042%, DJ EUROPE STOXX (SXXP): 0.013%, DJ EUROPE ST TEL
(SXKE): 0.354%, DJ EURO STOXX P (SXXE) : 0.029%, BBG EUROPE TECHN  MSCI 3,52%.

                      This information is provided by RNS
            The company news service from the London Stock Exchange


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