HEVERLEE, Belgium -- On 15 December, the Board of Directors of Belgacom reviewed and discussed its public offer forTelindus announced on September 29 and opened on December 5. The Board decided to step up itsbid to a cash offer of 16.6 euros/share. This decision is based on the newly available informationfrom the Data Room about Telindus’ market performance, business strategy and reorganizationprocess and the review of the counter bid made by France Telecom. Belgacom will now reinitiatediscussions with the Board of Directors of Telindus to emphasize the rationale of a partnership thatsecures its roots and strongly locks its decision center into the Belgian community.

Belgacom was pleased to access the Data Room, made available by Telindus to potential bidders last week. Itallowed more insight into important strategic and business information on Telindus.Based on this new offer, Belgacom is inviting the Board of Telindus to continue the discussion about its strategicproject and the value creating potential for both partners.

“We believe in the strategic fit between Telindus and Belgacom, which will create a strong Belgian player in theEuropean network integration market”, said Didier Bellens, Belgacom’s President & CEO. “Based on ourimproved offer, we look forward to a constructive discussion with the Board of Telindus”.Belgacom plans to keep Telindus as a separate legal entity, maintaining intact the Telindus brand, identity,culture and values. Belgacom is confident that the additional business generated by the positive synergies willbe more than sufficient to eliminate or compensate for any negative impact on employment.In line with applicable law, Belgacom will publish a suplement to its prospectus. The offer is extended tillJanuary 6, 2006. Under the improved offer, Telindus shareholders will receive cash payment of 16.6 euros pershare, whereby the option of receiving combined cash payment and certificates for Mobistar shares will cease toexist.

Telindus Group NV

Belgacom