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OSKAR SECURES LONGTERM DEBT FINANCING

10. August 2000

Český Mobil a.s. announced that it has signed a credit agreement for a syndicated loan facility in the amount of Euros 316,911 652.12 and CZK 5,867,300,714.29 (equivalent in total to approximately USD 450,000,000).

Český Mobil a.s. announced that it has signed a credit agreement for a syndicated loan facility in the amount of Euros 316,911 652.12 and CZK 5,867,300,714.29 (equivalent in total to approximately USD 450,000,000). This financing, led, arranged and syndicated by Chase Manhattan plc and CIBC World Markets plc and co-led by Československá obchodní banka, a.s. (ČSOB) was successfully syndicated to a group of 11 international banks and institutions acting as arrangers and co-arrangers. In addition to Chase, CIBC and ČSOB, the syndicate includes: ABN Amro Bank N.V, Deutsche Bank AG, Bayerische Landesbank Girozentrale, Bank Austria Aktiengesellschaft, Bank Austria Creditanstalt Czech Republic, A.S., Raffeisen Zentralbank Osterreich Aktiengesellschaft, Raffeisenbank A.S., Kreditanstalt für Wiederaufbau, Nordic Investment Bank, Export Development Corporation of Canada and Česká Spořitelna, A.S.

Český Mobil became the third mobile network operator in the Czech Republic after being granted a GSM 1800 license by the Czech government in October 1999. On January 8, 2000, Český Mobil started offering limited services to customers and launched its full commercial operations on March 1, 2000 under the brand name Oskar. As of August 2nd there were 100,000 Oskar subscribers and the network covered 86% of the Czech population and 99% of the main highways in the country.

Canadian-based Telesystem International Wireless (TIW) is the managing shareholder of Český Mobil. TIW is a rapidly growing, global mobile communications operator with over 2.9 million subscribers, in four dynamic geographic clusters. The Company's shares are listed on the Toronto Stock Exchange ("TIW") and NASDAQ ("TIWI").

TIW is deploying a pan-European digital specialized mobile radio (ESMR) network through its subsidiary Dolphin Telecom plc. Dolphin currently offers ESMR services in the United Kingdom in addition to analog SMR services in the United Kingdom, France, Germany, Belgium, Spain and Portugal.

In addition to its Dolphin operations, TIW is the strategic and operating partner of the country's fifth largest cellular group in Brazil, with operations in four regions. In Central and Eastern Europe, TIW is the cellular market leader in Romania and recently launched services in the Czech Republic following its award of a GSM 1800 license.