Teleunit SpA

('Teleunit' or 'the Group'; stock code: TLU)

Transaction in own shares

Teleunit S.p.A announces that on 13 October 2008 the Company purchased 5,000,000 Ordinary Shares of EUR0.0125 ('Ordinary Shares') at a price of 2 pence per share to be held in treasury. Following this purchase, of the 186,744,249 Ordinary Shares in issue the Company holds 5,800,000 in treasury which it intends to cancel in due course.

About Teleunit SpA

Based in Perugia in Central Italy, Teleunit is a telecom services provider to both business and residential customers throughout Italy. The Group operates in three distinct sectors: voice and data services (providing fixed line voice and data, wholesale, and wireless services to customers across Italy) and premium access services. Through its subsidiary, Neomobile SpA, Teleunit is also an active player in the Mobile Entertainment D2C arena. The Group is looking to expand its operations selectively in Italy and internationally. Teleunit listed on AIM in May 2004, the first Italian company to complete a primary listing in London. For more information, please visit the website: http://ir.teleunit.it

For further information, please contact: