OTE ANNOUNCES TENDER RESULTS FOR OTE PLC 2015 AND 2016 NOTES

Αthens, July 9, 2014 – The Hellenic Telecommunications Organization SA (OTE SA), in accordance with Law 3556/2007, 1/434/03.07.2007 Decision of the Hellenic Capital Market Commission, article 13 of Law 3340/2005 and 3/347/12.07.2005 Decision of the Hellenic Capital Market Commission, announces today that its subsidiary OTE plc concluded a tender for cash of its February 2015 Notes (ISIN XS0346402463) and its May 2016 Notes (ISIN XS0275776283).  OTE plc accepted tenders amounting to €305 million and €195 million of the February 2015 and the May 2016 Notes respectively.  The purchase price has been set at 103.721% and 104.905% for the February 2015 and May 2016 Notes respectively. The tender will be financed via the proceeds of the €700 million new bond issue of OTE plc. The tendered notes will be surrendered for cancellation. Following the completion of the tender, which is expected to settle on July 11, 2014, the outstanding principal amount of February 2015 Notes and May 2016 Notes will be €482.75 million and €700 million respectively.