Telekom Austria AG

euro adhoc: Telekom Austria AG
Telecom Italia International N. V. sells 73.9 million shares in Telekom Austria (E)

---------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

This press release may not be published or distributed in or sent to the United States of America, Canada and Japan.

Vienna, January 21, 2004: Telekom Austria has been informed that Telecom Italia International N.V. has sold its residual shareholding, corresponding to 73.9 million shares or 14.78% of Telekom Austria’s share capital, in a private placement to institutional investors at a price of EUR 10.55 per share. Following completion of this transaction, the free float in Telekom Austria’s share capital will increase to 52.8%. The remaining stake is owned by ÖIAG, representing the Republic of Austria. ÖIAG and Telekom Austria have each entered lock-up agreements until 31 May 2004.

This document does not constitute or contain an offer to sell or a solicitation of an offer to buy any securities in the United States, in Austria or elsewhere. The ordinary shares of the Company have not been and will not be sold in the United States or for the account or benefit of U.S. persons (as such terms are defined in Regulation S under Securities Act) unless registered under the Securities Act or pursuant to an exemption from such registration. In Austria, the ordinary shares of the Company will be offered exclusively by way of a non public offering to a limited circle of persons within the scope of their business or professional activity according to Section 3/1/11 of the Austrian Capital Market Act. Stabilisation/FSA

end of announcement            euro adhoc 21.01.2004

Further inquiry note: Hans Fruhmann Telekom Austria AG Investor Relations Tel.: +43 (0) 590591-20918

Branche: Telecommunications Equipment
ISIN:      AT0000720008
WKN:        720008
Index:    ATX, ATX Prime, WBI
Börsen:  Wiener Börse AG / official dealing
              New York / official dealing

Weitere Meldungen: Telekom Austria AG

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