OTE announces that the Board of Directors has provided approval for a guarantee of the obligations of OTE Plc, which will arise out of the activation of the EMTN program this Group entity is in the process of establishing in the European Capital Markets. The Board has approved a maximum program of EURO 3 billion of tenure of -maximum-10 years.OTE Plc is in the process of registering a EURO 1.5 billion EMTN program, thus utilizing part of the approved guarantee support of OTE. The program will be primarily utilized to extend the maturity of the Group's funding profile, and, given the financial flexibility that the Group affords, issuance under the program will be subject to market conditions as and when funding requirements do materialize.The OTE Group intends to utilize the flexible issuance platform established through the EMTN to consolidate funding for the Group Companies in one entity, therefore increasing transparency and correcting structural subordinations.Both Moody's and Standard & Poor's currently rate OTE Group A2/A with stable outlook. It is the intention of the Group that activity under the EMTN does not compromise its rating.The OTE Plc EMTN will enable issuance in multiple transactions and multiple currencies, and it is a documentation platform that enables quick reaction to market opportunities. Increases in the program may be considered during the ensuing years.