Operator results - 02/03/2006

True (Thailand) reported 2005 revenues of $1bn (+37%) and an EBITDA of $385m (up 33%).

lowered its overall mobile revenue expectations.

Vodafone lowered its overall FY2007 mobile revenue growth expectations by 1-2.5 points to 5%-6.5% due to increasing competitive environment and EBITDA to feel 1% in 2007.

Versatel (NL) reported 4Q05 revenues of €1.1bn , down 32%, while EBITDA rose 637% to €258m.

Mobilkom (Germany) posts 2005 revenues of €2bn, up 8.5%, and EBITDA of €198m (+24%).

Telefonica Moviles announced net earnings growth of 13% to €1.9bn, on revenues of €16.5bn (+40%).

Iusacell (Mexico) reports first net profit since 2001. In 4Q05, net profit amounted to $13.6m (vs loss of $36m). For the year 2005, Iusacell reported a net loss of $67m (down 66%) on revenues of $582m (+26%).

PLDT (Philippines) reports 2005 net earnings of $656m (+22%) on revenues growing 5% to $2.3bn.

CableVision (US) announced a 4Q05 profit of $54m (vs loss in 2004), while revenues rose 12,5% to $1.5bn.

OTE (Greece) posts 37% fall in 4Q05 net profit to €37m, on revenues of €1,4bn (+9%); a 2005 net loss of €294m (vs profit); 4Q05 EBITDA rose by 32% to €450m.

Telewest (UK) reported a net loss of $24m (narrower than $29m last year) on revenues of $757m (up 29%).

NTL (UK) reported a 4Q05 $98m net loss (better than $128m loss last year) on revenues growing 5% to $892m.

Telefonica announced 4Q05 net profit rose to €1.2bn (+52%), EBITDA rose 40% to €4.3bn, on sales of €10.5bn, up 28%. Telefonica Spain reported revenues of €3bn (up 4%) and EBITDA was down 4% to €1.3bn. In Latam, Telefonica reported €2.4bn in sales (+35%). Telefonica Moviles announced 4Q05 net profit of €376m on revenues of €4.5bn and EBITDA of € 1.6bn. Broadband Internet services amounted to €517m (+21%) in the quarter, and traditional calls accounted for €1.3bn (-2%).

T-Online (Germany) reported 4Q05 EBITDA of €62m (down 31%) on sales of €552m, up 2.5%. For the year, T-Online reported an EBITDA of €373m (down 20%) while sales rose 3.8% to €2.1bn.

Telekom Malaysia reports 4Q05 loss of $102m (vs profit of $254m) on revenues of $1bn, up 8.3%. Full year results were: sales at $3;8bn (+5.2%) and net profit fell 50% to $426m.

Telecom Maroc posts full year operating profit of € 795m, (+13%) of which €494m from mobile operations; net profit of € 533m (+12%).