COSMOTE's Board of Directors elected today Mr. Giorgos Mavrakis and Mrs Elli-Maria Despotou as members of its BoD, in replacement of the resigned members, Mr G.Skarpelis and Mr Arve Johansen. It is noted that Mr Arve Johansen's resignation was requested so that he is re-elected as an Independent Non-executive member of the Board of Directors according to the Greek Corporate Governance legislation. In this respect, COSMOTE's Board of Directors, elected Mr Arve Johansen as an Independent Non-executive member in replacement of the resigned Independent Non-executive member Mr. G. Papavasilopoulos.

Following the aforementioned decisions, COSMOTE's Board of Directors was formed into a body, as follows:
P. Vourloumis Chairman, Non-executive member
A. Johansen Vice Chairman, Independent, Non-executive member
E. Martigopoulos Managing Director, Executive member
K. Apostolides Independent, Non-executive member
C. Economou Non-executive member
Y. Ioannidis Non-executive member
Y. Sarantitis Non-executive member
E. Despotou Non-executive member
G. Mavrakis Non-executive member

Elli Maria Despotou: Mrs. Despotou is a Law School honors graduate of the University of Athens, Department of Political Science and Public Law, as well as of the Panteio University, Department of Political Science. She holds a postgraduate degree in Public Management, from the Panteio University. She has been an OTE employee for approximately 32 years. From the beginning of her career she has held several finance related positions. Since 1996, she was mainly involved in OTE's share offerings. From November 1998 until January 2001, she was head of the Statistics Division, within the Managerial Accounting and Information Department and from 2001 has been Sub-director of the Statistics Department. Mrs. Despotou is a member of the BoD of the non-profit union "PanHellenic Association of Friends of Athleticism"

George Mavrakis: Mr. George Mavrakis is Director of Strategy and Business Development of OTE INTERNATIONAL. He has been an OTE employee since 1997. He was Director of the Municipal Development Company of the Municipality of Aspropyrgos and Financial Director of DATELEC HELLAS. Mr. Mavrakis holds a BA (Hons) in Economics, Leicester Polytechnic and a M.A. in Financial and Business Economics, University of Essex.

Contact:

Investor Relations
Tel. + 30 - 210 - 6177 790
Fax. +30 - 210 - 6177 377
e-mail: ir@cosmote.gr

Media Relations
Tel. +30 - 210 - 6177 566
Fax. +30 - 210 - 6177 771
e-mail: MediaRelations@cosmote.gr
http://www.cosmote.gr