TÁNAISTE ANNOUNCES 250 JOBS FOR SHANNON TELES Ireland Brings Major Job Opportunities to Shannon - Harney TELES Ireland Introduces Revolutionary New Internet Product at its Official Opening

Mary Harney, T.D., Tánaiste and Minister for Enterprise, Trade & Employment, today (Monday, 22nd November 1999) announced that TELES Ireland, a wholly-owned subsidiary of Berlin-based TELES AG, a major international supplier of innovative infrastructural telecommunications products, is creating 250 jobs at the Shannon Free Zone, backed by Shannon Development.

Making the announcement at the official opening of the Company's new manufacturing facility at Shannon, where its sales & marketing team for English-speaking countries will also be based, the Tánaiste said: "With 90% of the new positions destined for graduates and experienced practitioners from wide-ranging disciplines, the establishment of TELES Ireland brings with it tremendous opportunities and will complement the expertise held by other global telecommunications companies, such as Tellabs, Tecnomen and Cybex, already operating at Shannon. By the end of 2002, TELES Ireland will making a direct annual contribution of IR£13 million to the Irish economy and a further IR£23 million indirectly through its support of Irish suppliers. This is significant by any standards."

With almost one third of its international workforce engaged in Research and Development, TELES AG has played a major role in the development of new telecommunications technologies since its inception 25 years ago. The new Shannon facility will be developed into a worldwide supplier of leading-edge proprietary telecommunications equipment and related products.

On the occasion of the official opening, Dr. Bernhard Perscheid, Board Member and Head of Production & Logistics, TELES AG, announced the imminent availability in Europe of sky DSL; TELES' revolutionary new Internet product, which will allow broadband Internet access via satellite for mass and business markets. "TELES AG is the first company in the world capable of delivering these highly innovative systems, as required now by the PC mass markets of the world. Sky DSL will allow people to get emails, download information and even view television channels at the speed of light, and is likely to become the "new wave" of Internet. The principal benefits include much faster (up to 8Mbits/s), more efficient and more convenient access to the Internet", he pointed out. Sky DSL will be manufactured by TELES Ireland in Shannon for distribution worldwide.

Paul Sheane, Chief Executive, Shannon Development, said: "TELES' arrival at Shannon highlights two important issues: firstly, resulting from the acquisition of a local company, which emanated from the entrepreneurial system in the Shannon Region, it highlights the fact that our indigenous industrial base is gaining an international reputation. Secondly, TELES' commitment to outsourcing a large volume of components in the local market illustrates that the Region's sub-supply base is recognised for its increasingly sophisticated capability. Changes in industrial purchasing approaches mean that the sub-suppliers are becoming more pivotal to the manufacturing process in general. Shannon Development is therefore working with industry in the Shannon Region to develop appropriate clusters of sub-supply capability".