COSMOTE MOBILE TELECOMMUNICATIONS S.A., the leading provider of mobile telecommunications services in Greece, held today, June 8th, 2004, its seventh Annual General Meeting of Shareholders during which the payment of dividend amounting to 50 eurocents per share was approved.

During 2003, COSMOTE, effectively met all challenges, fulfilled the strategic goals it had set and secured strategic agreements that will play an important role with respect to its future prosperity. Today, COSMOTE maintains the leading position in the Greek mobile market both overall as well as in the contract segment, in growth rates and most importantly in profitability. At the same time it sustains its position among the top 5 mobile operators in Europe both in terms of returns as well as in terms of profitability.

'COSMOTE's exceptional financial performance together with the evident customer loyalty it enjoys, offer further evidence of the Company's future prospects and reaffirm its successful and consistent strategy' commented the Company's Chairman, Mr. Panagis Vourloumis. During his presentation, Chief Executive Officer, Mr. Evangelos Martigopoulos, outlined the sustained exceptional financial performance of COSMOTE in 2003 which is well underway in 2004 as evident from the Company's Q1 2004 financial results. Special notice was given to i-mode? services, result of COSMOTE's strategic partnership agreement with the leading mobile operator in Japan, NTT DoCoMo, which are expected to signify a new era for value added services in Greece. In addition, Mr. Martigopoulos expressed his belief that in year 2004, COSMOTE will remain dedicated in realizing its key strategic objective that is to continue to lead the way on all fronts: quality of services, innovation, high profitability and enhanced returns to its shareholders.

The Annual General Meeting of Shareholders approved, among others, the annual Financial Statements for the year ended December 31st, 2003, regarding Fiscal Year 2003 (01.01.2003 - 31.12.2003), the distribution of profits of the Company and the payment of dividend amounting to 50 eurocents per share. Shareholders entitled to this dividend, are all the holders of the Company?s shares as at the date of the Annual General Meeting (i.e. 8th June 2004, inclusive). Shares will be trading ex-dividend from June 9th 2004, while dividend payment will commence at the end of June 2004.

The Annual General Meeting of Shareholders also appointed the ordinary and deputy Chartered Auditors, and ERNST & YOUNG S.A., as the Company's Auditors for Fiscal Year 2004.

In addition the AGM approved the transfer of the Company?s registered office from the Municipality of Athens to the Municipality of Maroussi of Attica and amended the respective Articles of the Company?s Articles of Association. The AGM also decided the amendment of the Company?s Articles of Association for the harmonization with the new Law concerning corporate bond issuance and the Codified Law 2190/1920 as it is amended during the last years.

Furthermore the Annual General Meeting of Shareholders ratified the appointment of new members of the Board of Directors in replacement of resigned members. More specifically, the Annual General Meeting of Shareholders ratified the appointment of Mr. P. Vourloumis, Mr. G. Mavrakis and Mrs E. Despotou, as well as Mr. Arve Johansen as an independent, non-executive member.

Finally, the Annual General Meeting of Shareholders approved the basic terms of a) the contract between COSMOTE and ?OTE International Solutions S.A.? regarding the provision to COSMOTE of International 2.5 G (GPRS) Roaming Services, b) the contract between COSMOTE and OTE regarding the provision from OTE to COSMOTE of roaming services and interoperational roaming services and c) the contract between COSMOTE and OTE's subsidiary, ?TEMAGON TECHNOLOGICAL & BUSINESS CONSULTING SERVICES S.A.? concerning the subleasing of offices at No 90, Marinou Antipa Street, N. Heraklio of Attica.