ATHENS, Greece  December 23, 2014  Hellenic Telecommunications Organization SA (ASE: HTO, OTC MARKET: HLTOY), the Greek full-service telecommunications provider (the Company), today held the Extraordinary General Meeting ("EGM"), at which 72.57% of its Shareholders were present.

The EGM discussed and approved all items of the Agenda by majority, pursuant to article 23a of C.L.2190/1920. In particular, the EGM approved:

• The amendement and renewal of the contract of CEO, Michael Tsamaz, for 3.5  additional years, until the date of the 2018 AGM.

• The entering into separate agreements ("Service Arrangements") between OTE S.A. and OTE Group companies on the one hand and Deutsche Telecom AG (DTAG) and Telekom Deutschland GmbH (TD GmbH) on the other, for rendering specific services for 2015 within the framework of the approved "Framework Cooperation and Service Agreement".

• Finally, the EGM approved the amendment/addition of the 61st Ordinary Shareholders' General Meeting decision dated 26/6/2013, in order for the blocking of an amount from the Company's taxed reserved funds for the coverage of own participation in the ESPA Program, ICT4Growth, to be valid for a period of five years from the completion of the investment and the initiation of the productive operation thereof.