Motorola, Inc. (NYSE: MOT) welcomes the announcement that Vodafone has completed its acquisition of Turkish cellular phone operator, Telsim Mobil Telekomunikasyon (“Telsim”).

Following completion of the transaction, Motorola received a cash payment of $410 million pursuant to an agreement previously reached to settle Motorola’s financial and legal claims against Telsim and certain other parties.

Motorola issued the following statement: “We congratulate the Turkish Savings and Deposit Insurance Fund (TMSF) and Vodafone on the successful tender and transfer of Telsim. We appreciate TMSF’s diligent efforts throughout this process to ensure a successful outcome for all parties.”

As previously announced, in October 2005, Motorola agreed to settle its financial and legal claims against Telsim and certain other parties for a cash payment of $500 million, which the company received in October 2005, plus the right to receive 20% of the proceeds from the sale of Telsim assets over $2.5 billion.

In connection with the previously announced agreement, Motorola dismissed its litigation against Telsim, as well as its demand for arbitration against the Government of Turkey at the International Center for the Settlement of Investment Disputes (ICSID) in Washington, D.C. In addition, Motorola agreed not to pursue collection efforts against certain corporate defendants under TMSF control, subject to certain conditions.

Motorola may continue its efforts, except in Turkey and certain other agreed upon countries, to enforce the judgments previously rendered on behalf of Motorola against the Uzan family for perpetrating a massive fraud against Motorola through the Uzan’s prior control of Telsim.

Nokia has received a settlement payment of USD 341.25 million following the completion of the sale of Telsim’s assets, in accordance with an arrangement with Telsim and the Turkish Savings and Deposit Insurance Fund (TMSF), which sold Telsim’s assets to Vodafone. This follows the settlement reached in August 2005 of Nokia’s financial claims against Telsim, subject to the successful sale of the Turkish network operator’s assets.

Nokia is pleased with the resolution of the issue with Telsim. The closing of the settlement agreement opens the way for Nokia’s continued support for Telsim’s operations, which will benefit not only Telsim’s subscribers but also the Turkish telecommunications market at large.

Nokia’s claims arose from Telsim’s default on its repayment obligations under a loan facility related to network equipment delivered in 2000. In February 2004, the Arbitral Tribunal in ZГјrich fully approved the claim against Telsim.