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Vodafone Telecel, Oni and OniWay sign agreement

Lisbon, 4 December 2002 – Vodafone Telecel signed an agreement to acquire certain assets held by OniWay and the entire share capital of OniWay, provided that certain contractual conditions are met.

The assets are to be acquired from OniWay for a total amount of around 50 million euros and comprise network infrastructures and platforms, IT equipment and GPRS handsets.

This agreement encompasses the possibility of acquisition of OniWay’s entire share capital, once the company is free of any charges, responsibilities and liabilities.

The value of the shares representing OniWay’s capital will be based on OniWay’s equity value at the transaction date, plus a variable amount equivalent to part of the eventual deduction of OniWay’s tax losses that Vodafone Telecel might benefit.