Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, today presented highlights of its 2007-2009 Business Plan at a meeting with the financial community held in London, during which the Group''s 2006 results were also reviewed.
Revenues of the Greek fixed-line activities are expected to decline by about 4% to 5% per year over the plan period, while total operating expenses should drop by about 6% to 7% per year. As a result, Greek fixed-line Operating Income before Depreciation and Amortization (OIBDA), under IFRS, should increase by 0.5% to 1.5% per year over the plan period.
OTE''s Business Plan also confirmed the outlook of Cosmote, its mobile subsidiary, where OIBDA is expected to grow by more than 15% per year on revenue growth of 18% per year, boosted by the integration of the Germanos retail chain.
Finally, in a difficult market, Romtelecom expects revenues to decline by 1% to 2% per year over the plan period, while total operating expenses should increase by 1.5% to 2.5%. Consequently, OIBDA margin should remain roughly unchanged.
The presentation files in Greek and English, as well as a replay of the Business Plan presentation are available on OTE''s IR website at www.ote.gr/engish/investorrelations and www.ote.gr/greek/investorrelations

About OTE
OTE Group is Greece''s leading telecommunications organization and one of the pre-eminent players in South-eastern Europe, providing top-quality products and services to its customers. Apart from serving as a full service telecommunications group in the Greek telecoms market, OTE Group has also expanded during the last decade its geographical footprint throughout South East Europe, acquiring stakes in the incumbent telecommunications companies of Romania and Serbia, and establishing mobile operations in Albania, Bulgaria, the Former Yugoslav Republic of Macedonia and Romania. At present, companies in which OTE Group has an equity interest employ over 30,000 people in six countries, and our portfolio of solutions ranges from fixed and mobile telephony to Internet applications, satellite, maritime communications and consultancy services. Listed on the Athens Stock Exchange, the company trades under the ticker HTO as well as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE''s American Depository Receipts (ADR''s) represents - ordinary share.
Additional Information is also available on http://www.ote.gr.
Contacts:
OTE: Dimitris Tzelepis - Head of Investor Relations, Tel: +30 210 611 1574, Email: dtzelepis@ote.gr
Nektarios Papagiannakopoulos-Senior Financial Analyst, Investor Relations, Tel: +30 210 611 7593, Email: npapagiannakopoulos@ote.gr
Daria Kozanoglou - Communications Officer, Investor Relations, Tel: +30 210 611 1121, Email: nkozanoglou@ote.gr
Marilee Diamanti - IR Coordinator, Tel: +30 210 611 5070, Email: mdiamant@ote.gr
Christina Hadjigeorgiou - Financial Analyst, Tel: +30 210 611 1428, Email: cchatzigeo@ote.gr
Forward-looking statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the Company''''s future financial results are discussed more fully in the Company''''s filings with the U.S. Securities and Exchange Commission (the "SEC"), including the Company''''s Annual Report on Form 20-F for 2005 filed with the SEC on June 29, 2006. OTE assumes no obligation to update information in this release.