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28.02.2001 – 12:55

Telekom Austria AG

Telekom Austria group enters the Slovenian Mobile market

Vienna, Austria (ots-PRNewswire) -

Telekom Austria's (NYSE: TKA)
mobile subsidiary, Mobilkom Austria, signed today the purchasing
agreement for the acquisition of a controlling stake in the Slovenian
mobile communications provider SI.MOBIL d.d.
Having started its operations in March 1999, si.mobil holds now a
14% market share of the rapidly growing Slovenian mobile
telecommunications market. With about 130,000 subscribers, the
company achieved unaudited revenues in the amount of 29.9 million
euros for the financial year ended December 2000.
Under the terms of the transaction, Mobilkom Austria is to acquire
a 49% stake in si.mobil.  An additional 26% plus 1 share in si.mobil
will be purchased by Teleimpuls, a Slovenian company which is already
49% owned by Mobilkom Austria. The present transaction is based on an
acquisition value of 141 million euros.
The remaining 25% less 1 share in si.mobil will be held by other
Slovenian shareholders and will be acquired by Mobilkom Austria at a
later stage. At that time, legal changes in Slovenian company law
will allow direct foreign majority ownership in si.mobil. By the end
of 2002, Mobilkom intends to exercise its right directly to acquire
any outstanding shares in si.mobil.
The transaction is subject to no further regulatory or other
consents, save those referred to above.
Commenting on the acquisition, Heinz Sundt, Chief Executive
Officer of Telekom Austria, said:
"The acquisition is a logical step in building our leadership
position in mobile communications within Austria and other Central
European markets. It forms the ideal bridge between our successful
mobile activities in Austria and in Croatia, as well as those of
Mobilkom's strategic partner, Telecom Italia Mobile."
About Telekom Austria
Telekom Austria is Austria's leading provider of
telecommunications services. It was listed on the Vienna and New York
stock exchanges in November 2000 and has a current market
capitalization of 3.2 billion euros. The group has four main business
areas: fixed line, mobile communications, data communications, and
Internet. It has international operations in the Czech Republic and
Croatia.
Mobilkom Austria is Austria's leading provider of mobile
communications services. Telekom Austria owns 75% less 1 share of
Mobilkom Austria.  The remaining 25% plus 1 share is owned by Telekom
Italia Mobile.
Statements contained in this press release that are not historical
facts are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995.  All
forward-looking statements are subject to risks and uncertainties
which could cause actual results to differ from the forward-looking
statements contained in this release and that may affect the
Company's prospects in general are described in the Company's filing
with the Securities and Exchange Commission.

Contact:

Hans Fruhmann, Head of Investor Relations of Telekom
Austria, phone. +43 59059 1 20917