TELESYSTEM INTERNATIONAL WIRELESS INC.

TELESYSTEM INTERNATIONAL WIRELESS INC.

March 09, 2005 09:43 ET

TIW Announcement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TELESYSTEM INTERNATIONAL WIRELESS INC.

TSX SYMBOL: TIW
NASDAQ SYMBOL: TIWI

MARCH 9, 2005 - 09:43 ET

TIW Announcement

MONTREAL, CANADA--(CCNMatthews - March 9, 2005) - In light of press
speculation, Telesystem International Wireless Inc. (the "Company" or
"TIW") (TSX:TIW)(NASDAQ:TIWI) confirms that it is in talks with Vodafone
Group plc ("Vodafone") regarding the possible sale of its interests in
MobiFon S.A. and Oskar Mobil a.s.. The Company believes that any offer
from Vodafone will equate a value per share close to the current share
price. There can be no assurance that the terms, structure and other
conditions of any proposal from Vodafone would be acceptable to the
Company. There can therefore be no assurance that a transaction would
occur. The Company intends to make no further announcements unless an
agreement is reached or discussions are terminated.

Forward-looking Statements

This news release contains certain forward-looking statements concerning
our future operations, economic performances, financial conditions and
financing plans. These statements are based on certain assumptions and
analyses made by us in light of our experience and our perception of
historical trends, current conditions and expected future developments
as well as other factors we believe are appropriate in the
circumstances. However, whether actual results and developments will
conform with our expectations and predictions is subject to a number of
risks, uncertainties and assumptions. Consequently, all of the
forward-looking statements made in news release are qualified by these
cautionary statements, and there can be no assurance that the results or
developments anticipated by us will be realized or, even if
substantially realized, that they will have the expected consequences to
or effects on us and our subsidiaries or their businesses or operations.

We undertake no obligation and do not intend to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable
law. For all of these forward-looking statements, we claim the
protection of the safe harbour for forward-looking statements contained
in the U.S. Private Securities Litigation Reform Act of 1995.

About TIW

TIW is a leading provider of wireless voice, data and short messaging
services in Central and Eastern Europe with over 6.7 million
subscribers. TIW operates in Romania through MobiFon S.A. under the
brand name Connex and in the Czech Republic through Oskar Mobil a.s.
under the brand name Oskar. TIW's shares are listed on NASDAQ ("TIWI")
and on the Toronto Stock Exchange ("TIW").

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Telesystem International Wireless Inc.
    Jacques Lacroix (Investors)
    (514) 673-8466
    jlacroix@tiw.ca
    Our web site address is: www.tiw.ca