Athens, Greece

 INTRACOM S.A, an affiliate of INTRALOT S.A., announced the acquisition of 41% of Siemens Tele Industrie S.A. from Siemens Information and Communication Networks (IC Networks). Siemens Tele Industrie S.A. is now jointly owned by INTRACOM and Siemens with a 41% share each while the National Bank of Greece maintains 18%.

 INTRACOM' s participation to Siemens Tele Industrie S.A. will provide extended services to all its customers in Southeastrn Europe and the Mediterranean and therefore will secure a dominant position in the region.

 Siemens Tele Industrie S.A., manufactures cutting edge telecommunications' products contributing to the sector's technological development in Greece. INTRACOM’ s participation is part of a strategy for the optimisation of production around the world in order to meet increased customer requirements announced by IC Networks.

 No changes in staff and products are foreseen. The agreement is subject to confirmation by the European Commission.

 INTRACOM is the largest manufacturing integrator of telecommunications and IT products and networks in South Eastern Europe. Other company activities include Energy Management Systems, Defence and Satellite applications. Intracom has an international presence in more that 50 countries worldwide. The Intracom Group, including its affiliates and subsidiaries, employed 7,700 people during the fiscal year 2001 with a total turnover exceeding 1.4 billion Euro and 250 million Euro profits before tax. Group exports rose to 310 million Euro in 2001 and are expected to rise to 430 million Euro in 2002.

 Siemens Information and Communication Networks (IC Networks) is a leading provider of network technology for enterprises, carriers and service providers. Its comprehensive portfolio comprises IP-based convergence solutions for voice and data (HiPath for enterprises, SURPASS for carriers), a full range of solutions for broadband access (Attane) and oprical transport networks (TransXpress). The Siemens Group thus provides complete solutions from a single source for the infrastructure of the Next Generation Network - optimised for a prompt return on investment and to open up new business opportunities for customers. In fiscal 2001 (year-end 30 September) IC Networks employed 51,000 people worldwide and posted sales of EUR 12.9 billion.