TIW Announcement

    News Editors

    MONTREAL--(BUSINESS WIRE)--March 9, 2005--In light of press speculation, Telesystem International Wireless Inc. (the "Company" or "TIW") (TSX:TIW)(NASDAQ:TIWI) confirms that it is in talks with Vodafone Group plc ("Vodafone") regarding the possible sale of its interests in MobiFon S.A. and Oskar Mobil a.s.. The Company believes that any offer from Vodafone will equate a value per share close to the current share price. There can be no assurance that the terms, structure and other conditions of any proposal from Vodafone would be acceptable to the Company. There can therefore be no assurance that a transaction would occur. The Company intends to make no further announcements unless an agreement is reached or discussions are terminated.

    Forward-looking Statements

    This news release contains certain forward-looking statements concerning our future operations, economic performances, financial conditions and financing plans. These statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments as well as other factors we believe are appropriate in the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, uncertainties and assumptions. Consequently, all of the forward-looking statements made in news release are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us and our subsidiaries or their businesses or operations.

    We undertake no obligation and do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law. For all of these forward-looking statements, we claim the protection of the safe harbour for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995.

    About TIW

    TIW is a leading provider of wireless voice, data and short messaging services in Central and Eastern Europe with over 6.7 million subscribers. TIW operates in Romania through MobiFon S.A. under the brand name Connex and in the Czech Republic through Oskar Mobil a.s. under the brand name Oskar. TIW's shares are listed on Nasdaq ("TIWI") and on the Toronto Stock Exchange ("TIW").



    TELESYSTEM INTERNATIONAL WIRELESS INC. (TSX:TIW) (NASDAQ:TIWI)

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CONTACT: Telesystem International Wireless Inc. Jacques Lacroix (Investors) (514) 673-8466 jlacroix@tiw.ca Our web site address is: www.tiw.ca

KEYWORD: NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: TELECOMMUNICATIONS ADVISORY SOURCE: TELESYSTEM INTERNATIONAL WIRELESS INC.

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