Αthens, December 21, 2011 – In response to the relevant question received by the Capital Markets Committee (Ref. 5780/20-12-2011), and following our November 29, 2011 answer, OTE replies that negotiations with Telekom Serbia for the disposal to it of OTE's 20% participation in the company have advanced, the Board of Directors of OTE has been informed in this respect during its session on December 13, 2011 and, subject to finalization of the transaction documentation, a decision is expected to be adopted soon, at which time we will make all required announcements.