Notification of Bond Buybacks

Αthens, December 19, 2014 – The Hellenic Telecommunications Organization SA (OTE SA), announces that further to the Company's announcement dated on 9/7/2014, its subsidiary OTE plc, has repurchased a principal amount of EUR 50,395,000 in aggregate from the 7.25 per cent Notes due 12 February 2015 (ISIN: XS0346402463). The repurchased Notes have been surrendered for cancellation. Following the repurchase, the outstanding principal amount of the Notes is EUR 432,354,000.

This announcement is published in accordance with Law 3556/2007 [article 3, par. 1 (f), (bb), and article 21], Law 3340/2005 and the relevant Decisions of the Hellenic Capital Market Commission.