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OSKAR BUYS PHONE HOUSE

18. October 2004

There will soon be even more retail locations where customers will be able to buy Oskar’s services. Late Friday, Oskar reached agreement with the owners of Phone House to buy the ownership interest of the company. The affected stores will initially continue to operate under the Phone House brand; however in coming months they will be converted to Oskar stores as the two retail networks become fully integrated. With this transaction, Oskar expands its retail sales network significantly, and reinforces its status as the most dynamically developing company on the Czech market *. Like Phone House's original owners, Richard Vlček and Miloslav Škop, Phone House employees will continue working for the firm, which will become a 100% subsidiary of Oskar Mobil.

There will soon be even more retail locations where customers will be able to buy Oskar’s services. Late Friday, Oskar reached agreement with the owners of Phone House to buy the ownership interest of the company. The affected stores will initially continue to operate under the Phone House brand; however in coming months they will be converted to Oskar stores as the two retail networks become fully integrated. With this transaction, Oskar expands its retail sales network significantly, and reinforces its status as the most dynamically developing company on the Czech market *.

Like Phone House's original owners, Richard Vlček and Miloslav Škop, Phone House employees will continue working for the firm, which will become a 100% subsidiary of Oskar Mobil. “Phone House is an excellent strategic acquisition for us, as we seek ways to continue to grow and better serve the customers,” says Karla D. Stephens, COO of Oskar. “We are also very pleased to welcome their employees to our family. Good people are an asset to any growing company,” she added.

"We're glad we found a buyer for Phone House that is as serious and strong as Oskar," says Vlček, the firm's co-founder and now a consultant to Oskar.

"Although many customers order Oskar services via Internet Shopping or OskarKontakt, there are still lots of customers who prefer face-to-face contact. For these people we will soon have additional retail locations they can visit. We are focused on ensuring that people who choose Oskar will enjoy the greatest convenience," explains Karla D. Stephens, adding, "Furthermore, Christmas is coming, so we're expecting a flood of people running out at the last minute to buy handsets."

The Phone House s.r.o. currently operates 12 stores across Czech republic and has around 50 employees.

*According to organization Czech Top 100.