COSMOTE - MOBILE TELECOMMUNICATIONS S.A. hereby announces that on February 1st, 2006, 1,211,610 of new ordinary registered shares will commence trading on the Athens Stock Exchange following the increase in its share capital by euro 569,456.70 as a result of the exercise of options in accordance with the resolutions of the General Meetings of the Shareholders of 31.7.2000, 12.6.2001 and 21.2.2002, respectively. After this increase, COSMOTE?s share capital amounts to ?156,833,411.70 divided into 333,688,110 shares with a nominal value of ?0.47 each. The 1,211,610 new shares were subscribed for as follows: (a) 861,750 shares were subscribed for by 156 option-holders at a price of ?8.96 per share; (b) 112,490 shares were subscribed for by 22 option-holders at a price of euro 9.78 per share; (c) 92,050 shares were subscribed for by 34 option-holders at a price of ?10.23 per share; and (d) 145,320 shares were subscribed for by 31 option-holders at a price of euro 13.46 per share. The aforementioned increase in COSMOTE's share capital was approved by the Board of Directors of the Company on 22.12.2005, certified by the Board on 12.1.2006, adopted by the Ministry of Development through the K2-609/19.1.2006 decision and adopted by the Athens Stock Exchange by a resolution passed on 26.1.2006. COSMOTE further announces that with effect from 1.2.2006 trading in the shares of COSMOTE will reflect the new adjusted value of the shares to take account of the share capital increase.

Further information concerning COSMOTE's Stock Option Plan is available at the Investor Relations section of the Company's web site (www.cosmote.com).