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Deutsche Telekom to raise stake in Croatian HT to 51 percent - Letter of Intent (LoI) the signed today

Deutsche Telekom today signed a Letter of Intent to acquire an additional 16 percent in Hrvatske telekomunikacije (HT) from the Government of the Republic of Croatia for 500 million EUR. Raising its stake from the current 35 percent to the majority shareholding of 51 percent after closing the deal, Deutsche Telekom will be able to fully consolidate HT, subject to a approval of Deutsche Telekom's Supervisory Board.

Jeffrey A. Hedberg, Member of the Management Board of Deutsche Telekom, International, pointed out: 'A strong presence in the Central and Eastern European telecommunications markets through majoritiy shareholdings is a cornerstone in the internationalization strategy of the Deutsche Telekom Group. With penetration rates still low, these telecommunications markets will have immense growth rates in the coming years. We are very pleased that we have reached principle agreement with the Government of Croatia on the acquisition of the majority shareholding in HT. For HT, we have always been a partner with proven expertise when it comes to providing the whole spectrum of modern telecommunications. State of the art telecommunications and information technologies and services are driving forces in the national economies.'

Slavko Linic, Deputy Prime Minister, emphasized that by this step the Government of the Republik of Croatia has confirmed the orientation towards the continuation of the privatization process within Croatia.

HT is a key player in the Croatian economy, positioned as the largest provider of telecommunications services in the country, with approximately 1.7 million customers. HT is the sole voice service operator in the Croatian market. It also operates an analog and digital mobile communications network that boasts some 500,000 subscribers. The company has a payroll of 11,000. Revenue rose from EUR 694 million in 1999 to EUR 763 million in 2000. Income after taxes rose from EUR 83 million in 1999 to EUR 120 million in 2000.

About Deutsche Telekom: Deutsche Telekom is Europe's largest communications company and one of the largest communications carriers worldwide based on 2000 revenues of 40.9 billion EUR ($38.6 billion). The company is active in four key growth segments of the global telecommunications market: mobile communications, network access services, consumer Internet services and integrated IT and telecommunications solutions. Through T-Mobile , Deutsche Telekom's mobile telephony subsidiary, and through other subsidiaries and investments, Deutsche Telekom today serves more than 51 million mobile telephony customers worldwide. On May 31, 2001, Deutsche Telekom completed the acquisition of U.S. mobile telephony companies VoiceStream Wireless and Powertel Inc., forming the first transatlantic wireless communications operator utilizing the GSM digital technology standard. Deutsche Telekom offers its customers a complete range of fixed-line voice telephony products and services through more than 50 million access lines. Deutsche Telekom is a leading provider of high-speed digital access lines, with more than 900,000 new asymmetric digital subscriber line (T-DSL) services currently sold and 18.6 million channels using the information transfer standard ISDN (Integrated Services Digital Network) as of March 31, 2001. T-Online is Europe's largest consumer Internet service provider, with approximately 8.7 million subscribers. In January 2001, Deutsche Telekom launched T-Systems , Europe's second-largest provider of comprehensive IT and telecommunications services to business customers in more than 20 countries. For more information about Deutsche Telekom, visit www.telekom.de/international

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