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Vodafone-Panafon (VPHD)

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Thursday 17 April, 2003

Vodafone-Panafon

4th Qtr Customer Numbers

Vodafone-Panafon Hellenic Tel Co SA
17 April 2003

PRESS RELEASE



                                 17 April 2003



                Vodafone-Panafon total customer base at 3,382,765
           Total net adds for the quarter January - March 2003:  164,048
                     out of which 68,312 net contract additions



Vodafone-Panafon announces that its total registered customer base for the year
ended 31 March 2003, reached 3,382,765 representing a 14.1% increase compared to
March 2002.



Total net additions for the last quarter (January-March 2003) were 164,048.
Contract net additions reached the level of 68,312, 88.4% higher than the
previous quarter. Prepaid customers net additions for the last quarter were
95,736, 38.4% higher than the previous quarter (October-December 2002).



Net contract additions for the year ended 31 March 2003 were 158,324
representing more than a 100% increase compared to the net contract additions
for the previous year ended 31 March 2002, while prepay net additions for the
year increased to 258,637.



Overall, contract customers for the year ended 31 March 2003 reached 978,751,
increasing 19.3% compared to 31 March 2002, while prepaid customers reached
2,404,014 increasing 12.1% versus the previous period and representing 71% of
the total customer base.



The customer numbers above reflect once again the effectiveness of our
commercial policy and the success of the Vodafone - shops retail chain coupled
with the further expansion of our distribution channels.



Annual blended churn for the year ended 31 March 2003 reached 24.2%. Contract
churn decreased to 35% from 36.7% in the previous comparative period while
prepaid churn increased to 19.9% from 9.5% due to the change in the
disconnection period policy from 12 to 18 months that took place in the previous
year.



Vodafone-Panafon's active customer base (Note 1) as defined by Vodafone Group
Plc reached 75% from 77% in the previous quarter mainly due to prepay inactivity
which reached 32.8% affected by strong promotional activities during the
Christmas period. On the other hand contract inactivity reduced to 6% from 7% in
the previous quarter, attributed to the retention and increase of high usage
customers.



Vodafone (Albania) (Note 2) added 42,045 customers for the quarter under review,
while the total customer base reached 391,057. Market share at the end of March
2003 increased to 42.1% from 41% in the previous quarter.





                                    --Ends--



1.                    Inactive customers are those who did not generate revenue
in the last 3 months.

2.                   Vodafone Greece holds 49% of the share capital of Vodafone
(Albania), while Vodafone International Holdings  BV, a wholly owned subsidiary
of Vodafone Group Plc, has 51%.







For Further Information Contact:
Maria Kaini, Investor Relations Officer Tel: +30 21 0 6160692
[email protected], website www.Vodafone.gr

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

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


                      This information is provided by RNS
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