Press Conference

Industrial trends merging media – Mobile/Internet

Consumers demanding more complex services – however also need to have education and training

P4 needs customer reach – this provides a good platform but will need to be supplemented

Poland’s restrictive retail practice has been bad for the Polish consumer – this deal will open up retail and give a better wider choice. In the same time, we will not prevent other operators and brands from being present.

Why

Germanos expands P4’s distribution network with market leading expertise in mobile sales

Strengthens P4 with a new strategic investor providing financial capacity to support the project and unique know-how

Gives P4 mass market distribution within weeks of commercial launch – previously unheard of

P4 GAINS

Unique opportunity to participate in the creation of a new and innovative mobile operator that goes beyond boundries of a typical, old fashioned mobile operator

Chance to leverage many years of experience in mobile phone and electronics sales to further develop and change Polish retail telecommunication market

Greater flexibility to develop a better consumer experience

GERMANOS GAINS

Provides Netia with a high street/shopping mall distribution capability to support consumer sales of broadband internet and future convergent services

Confirmation that Netia is adding value to its investment in P4 A new strategic partner with crucial core competences is joining the

joint venture

NETIA GAINS

Panos Germanos becomes a new owner

70%

30%

Current P4 ownership

54,6%

23,4%

22,0%

NovatorNetiaTollerton (Panos Germanos)

Future P4 ownership

Tollerton Group Structure in Poland

The Germanos Group network to be acquired by P4 consists of three companies:

Germanos Polska: 196 POSs

MPT: 104 POSs

TCM: wholesale – prepaid cards and coupons

Tollerton is exiting from investment in Orange distributor GTI.

MPT

104 POS (Era)

Tollerton Investment

GTI

156 POS (Orange)

TCM

wholesaler

100.0%

Germanos

196 POS (Era)

Ownership Structure

Germanos Group

100.0%

Olympia Development

100.0%

Thank You