OTE, on January 5th, 2005, bought -through a book building process - 500,000 Cosmote shares at a price of 14.90 euros/share.

HELLENIC TELECOM. ORG.

OTE, on January 5th, 2005, bought -through a book building process - 500,000 Cosmote shares at a price of 14.90 euros/share.

ATHENS, Greece - January 10, 2005 - Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announces that on January 5th, 2005, it bought 500,000 Cosmote shares at a price of 14.90 euros/share. These shares were part of a 4,000,000 block of shares sold through a book building process arranged by Lehman Brothers.