Pursuant to a press release dated 11-1-2008 with respect to the signing of MOU (Memorandum of Understanding) with Vivodi, Lannet announces that the negotiations were completed and the agreement was signed.

The contract concerns the provision of Broadband services with full or partial local loop unbundling (LLU) as well as backhauling services, which will be provided to Lannet by Vivodi. This agreement is in line with Lannet's strategy for the establishment of significant joint ventures like the one with FRANCE TELECOM for the development of a fourth generation network (MPLS) and the one with Craig Wireless for the utilization of the WiMax wireless broadband network that will secure the appropriate infrastructure needed.

The above action provided Lannet the ability to select the infrastructure via which the company will offer its clients superior quality broadband services at competitive prices. Moreover, Lannet directly improves its margins as a result of the decrease in operating cost and enhances its position in the very competitive telecoms market.

Lannet Communications S.A. is a leading telecom operator in Greece, serving its customers through its nation-wide network, providing full range of products and services that include high quality fixed telephony, internet access as well as fixed broadband wire line and wireless services based on xDSL and WiMax technologies respectively at competitive pricing.

The company is listed on the Athens Stock Exchange in the telecommunications sector.

For further information, investors should visit the company website (www.lannet.gr) and/or contact Investor Relations Department Mr Konstantinos Bratsikas tel #: +30 211 000 8712 , E-mail: bratsikas.kostas@lannet.gr.