ALCATEL, ARMENTEL SIGN 2 MILLION EUROS CONTRACT

YEREVAN, OCTOBER 1, ARMENPRESS: ALCATEL, the French giant
manufacturer of telecommunication equipment, signed September 28 in
Paris with Armenia’s fixed and mobile telephone operator ArmenTel a 2
million euros contract, envisaging modernization and expansion of
ArmenTel’s regional network.

Under the contract Alcatel will deliver modern digital switching
exchanges to be installed in Stepanavan and Gyumri. New technology
will speed up the process of creating a modern telecommunication
infrastructure system for around 235,000 people living in Armenia’s
northern regions. The project will also help ArmenTel to radically
increase the quality of its services. The project is expected to be
over in 2005 August.

“Building of a modern telecommunication infrastructure in Armenia
is of crucial importance for our company. We rely upon the high
quality and reliability of Alcatel equipment. We shall have to work
hard in order to provide high quality services to our clients and be
able to compete with other operators,” Vasileios Fetsis, the chief
executive manager of ArmenTel said.

Gerard Der Agobian, a regional vice-president of Alcatel said the
new contract opens a new era of cooperation with ArmenTel. “We are
happy to make our contribution to the development of Armenia’s
telecommunications market. We want a long-term cooperation with
Armenia,” he said.

ArmenTel shareholders are Greece’s Hellenic Telecommunications
Organizations SA (OTE) with 90% and Armenia’s government with 10%.