HELLENIC TELECOMMUNICATIONS ORG. S.A. (ΟΤΕ) announced today that on August 2, 2005, the Greek State purchased via an over-the-counter transfer 53,679,000 of its shares, ownership of the company Hellenic Exchangeable Finance S.C.A. (These shares had been distributed by the Greek State to Hellenic Exchangeable Finance S.C.A. on August 1, 2001 through an Exchangeable Bonds transaction). After the conclusion of the aforesaid transaction, the holding percentage of the Greek State reaches 48.63% of the share capital of the company.

Information:
Institutional Investors' Relations Department (contact person:
D.Tzelepis, tel.+210-611-1574/5070/1121,
e-mail:dtzelepis@ote.gr,
Fax:210-6111030.