HELLENIC TELECOM. ORG.

Announcement

The Hellenic Telecommunications Organisation SA (OTE SA), as clarification to the Company?s notification, dated January 17, 2007, states the following:
COSMOHOLDING CYPRUS Ltd, controlled by Cosmote SA, owns 99.14% on the total voting rights of Germanos SA.
Τhe transaction that took place on January 15, 2007, does not correspond to a change in Germanos SA?s shareholder structure, but rather to a change in Cosmote SA?s controlling stake in COSMOHOLDING CYPRUS Ltd., following the acquisition, by MICROSTAR Ltd (an entity 100% controlled by Mr. Panos Germanos), of a 10% participation in the share capital of Cosmote SA?s affiliate, COSMOHOLDING CYPRUS Ltd.