Cosmote Romania Doubles Subscriber Base in Just 4 Months

ATHENS -(Dow Jones)- Cosmote Mobile Telecommunications said Thursday its Romanian subsidiary has now 2 million subscribers, four months after celebrating the first anniversary since its relaunch in the country.

The company said it has attracted 1 million new customers within the past four months.

"The increase in our client base to 2 million in such a short period of time constitutes explicit proof of the preference of Romanian consumers for the competitive products and services of our company," Cosmote Romania's Chief Executive Nikolaos Tsolas said in a statement.

The company also said its immediate plans include the sale of i-mode services to all Cosmote clients as well as the continued improvement of its network.

Last December the company announced that its Romanian subsidiary has more than 1 million subscribers.

In July 2005, Cosmote completed the acquisition of a 70% stake in ailing mobile operator CosmoRom and relaunched it under new branding.

Cosmote also has operations in Greece, Albania, Macedonia and Bulgaria, with about 12 million customers.

Last February, Cosmote - majority-owned by the former monopoly provider in Greece, Hellenic Telecommunications Organization or OTE - reported a 2006 fourth-quarter net profit of EUR86.6 million, compared with EUR84.7 million in the same period a year earlier.

Revenue rose 49% to EUR751.8 million from EUR505.3 million a year earlier, while earnings before interest, taxes, depreciation and amortization, or Ebitda, rose 26% to EUR233.1 million.

Cosmote shares ended Thursday down EUR0.30, or 1.3%, at EUR23.40. Shares have risen about 2.6% since the beginning of the year.

Company Web site: www.cosmote.gr

-By Ayse Ferliel, Dow Jones Newswires; +30 210 331-2881, ayse.ferliel@dowjones.com

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Posted to the site on 19th April 2007