ANNOUNCEMENT

EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

ATHENS, Greece –March 22, 2012 – Hellenic Telecommunications Organization SA (ASE: HTO, OTC MARKET: HLTOY), the Greek full-service telecommunications provider, today held its Extraordinary General Meeting of Shareholders, in accordance with the invitation that had been published on 1/3/2012 and in line with the provisions of the Law and OTE's Articles of Incorporation.

During the meeting, where 65.18% of its shareholders were present (in person or by proxy), the majority of shareholders approved the granting by the General Shareholders' Meeting special permission, pursuant to article 23^a of C.L.2190/1920, for the conclusion of service agreements between Deutsche Telekom AG (DTAG) on the one hand and OTE S.A (OTE) and certain of its subsidiaries (COSMOTE GREECE, AMC, GLOBUL, COSMOTE ROMANIA, ROMTELECOM) on the other hand, for the provision of specific services (“Service Arrangements”), the Basic Terms of the said Service Arrangements and the assignment of the relevant powers.