BUSINESSWEEK ONLINE : FEBRUARY 21, 2000 ISSUE
INTERNATIONAL -- EUROPEAN COVER STORY

Telecom Gold


YEAR   COMPANY             AMOUNT*     TYPE OF DEAL

1997   China Telecom         $4.0      IPO

1998   NTT DoCoMo            18.3      IPO

1999   Deutsche Telekom      13.6      Purchase of One-to-One

1999   Vodafone              66.0      Acquisition of AirTouch

1999   Orange PLC            33.0      Sold to Mannesmann

2000   Vodafone AirTouch    183.0      Takeover of Germany's
                                       Mannesmann

*IN BILLIONS

DATA: BUSINESS WEEK; GOLDMAN, SACHS & CO.


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