RNS Number:7941S
Cesky Telecom A.S.
03 December 2003


> PRESS RELEASE - 03.12.2003 >


DECISION OF BOARD OF DIRECTORS

CESKY TELECOM, a.s., announces that its Board of Directors decided, by its
resolution dated 12/2/2003, to enable a secondary offering of shares and Global
Depositary Receipts (GDRs) issued on basis of shares of CESKY TELECOM, a.s., to
qualified American institutional buyers in accordance with Rule 144A of U.S.
Securities Act of 1933 exclusively through provision of information to the
extent required by the said Rule. The aforesaid possibility of secondary
offering applies to all shareholders and holders of GDRs.

This resolution has been adopted to enable a more effective enlargement of the
investors community as well as long-term liquidity of the listed securities
issued by the company on public markets.



For further information please contact:
VLADAN CRHA
Press Spokesman
tel:  (+420 2) 7146 3359
fax: (+420 2) 7146 9896
e-mail: press.dept@ct.cz



CESKY TELECOM, a.s., continues to strive to improve the quality of its services.
The firm implements system management that satisfies the requirements of
internationally-recognised ISO 9000:2000 norms, earning it certification from
Lloyd's Register Quality Assurance Limited. Certificates have already been
issued for the Service Wholesale Division, the Imaginet Division, for Corporate
Client Services in the Telecommunications Services Division, as well as
Purchasing and Logistics.

With nearly four million telephone lines in operation, CESKY TELECOM, a. s., is
the leading telecommunications company in the Czech Republic.  Through its
subsidiary company Eurotel Praha, spol. s r.o., it also has a significant
presence in the Czech mobile services market.

CESKY TELECOM pays close attention to the improvement in the growth potential of
data and Internet services.  According to GfK, a prominent market research firm,
IT managers regard CESKY TELECOM as the best data service provider in the Czech
Republic.  The company also intends to position itself as the country's leading
comprehensive service provider in the realms of e-commerce and other
non-traditional business. It also places great emphasis on the presentation of
its products and services through its web pages. The company's web site ranked
first in an evaluation of all Czech Top 100 corporate sites.

Signum Temporis has consistently awarded CESKY TELECOM for being one of the
domestic capital market's most transparent firms in terms of providing
information. Based on an open vote of specialists, members of the press and a
nine-member committee, CESKY TELECOM placed first in 2003, just as it did in
2001.

CESKY TELECOM ranks among the most prominent firms on the Czech capital market
in terms of capitalization and trading volumes.  Its shares are also traded on
the London Stock Exchange in the form of GDRs. CESKY TELECOM's credit rating is
the highest a Czech corporation can receive from top international rating
agencies.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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