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Q2 2004 – SERVICE REVENUES, SUBSCRIBER COUNT AND POSTPAID SHARE ARE ON THE RISE

30. July 2004

Oskar added 64,034 net subscribers in the second quarter to reach 1,678,005, an increase of 25.5% compared to 1,337,492 subscribers at the end of the second quarter of 2003. Oskar’s focus on postpaid growth continued to be successful with postpaid subscribers accounting for 45% of Oskar’s customer base as of June 30, 2004 as compared to 41% a year ago and 42% at the end of 2003. Oskar estimates it held a 16.7% share of the national cellular market as of June 30, 2004, compared to a 15.

Oskar added 64,034 net subscribers in the second quarter to reach 1,678,005, an increase of 25.5% compared to 1,337,492 subscribers at the end of the second quarter of 2003. Oskar’s focus on postpaid growth continued to be successful with postpaid subscribers accounting for 45% of Oskar’s customer base as of June 30, 2004 as compared to 41% a year ago and 42% at the end of 2003.

Oskar estimates it held a 16.7% share of the national cellular market as of June 30, 2004, compared to a 15.0% share at the same time last year. During the past 12 months, Oskar estimates cellular penetration in the Czech Republic increased to 98% from 88% at the end of the second quarter of 2003. “We estimate we captured approximately 40% of the total market new subscriber additions during the quarter. Together with the growing share of postpaid customers in our subscriber base, it is a very positive trend,“ says Karla D. Stephens, Chief Operating Officer at Oskar.

Service revenues increased 31.2% to USD 124.1 million compared to USD 94.5 million for the second quarter of 2003 due to an increase in the number of subscribers and a 3.6% increase in ARPU. ARPU1 for the second quarter was relatively stable at CZK 642 (USD 24.15) compared to CZK 645 (USD 23.32) for the same period last year.

Oskar recorded OIBDA1 of USD 39.6 million compared to OIBDA of USD 28.5 million for the same period last year. OIBDA as a percentage of service revenues for the quarter reached 31.9% compared to 30.2% in the second quarter of 2003 and 26.8% for the year 2003 as a whole. “This improvement reflects the revenue impact of solid subscriber growth, Oskar’s focus on postpaid growth and the economies of scale realized as fixed costs as spread over the larger subscriber base,“ says Muriel Anton, Vice President Finance & Support Services at Oskar.

For the first six months, service revenues increased 40.5% to USD 240.6 million compared to USD 171.2 million for the same period in 2003. OIBDA reached USD 73.9 million, compared to USD 45.8 million for the first six months of last year.