LANNET COMMUNICATIONS S.A. pursuant to Article 282 of the Athens Exchange Code of Conduct, informs the investment community that Mr. James Fairbairn, owner of 100% of the shares of CLAPHAND UNIVERSAL S.A., a LANNET shareholder, through a letter sent to our company, notified us that he is subject to the provisions of Law 3556/2007, Article 3, Paragraph (1c), (aa) and that his indirect participation in the share capital of LANNET COMMUNICATIONS S.A. on 28 November 2007 is 22.1569 % or 31,624,939 ordinary registered voting shares, whereas he did not have any shares or voting rights on 27 November 2007. Moreover, as stated in the said letter, Mr. Fairbairn has given control of the BoD and Management of CLAPHAND UNIVERSAL S.A. to VIRTUE CORPORATE SERVICES LTD.

The obligation of notification was created after the listing of the 62,926,198 new, ordinary registered voting shares issued by LANNET after the increase of its share capital due to the merger through absorption of TELEPASSPORT S.A.