ATHENS, Greece - July 6, 2005 - Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, today held its Repeated 53rd Annual General Assembly of Shareholders, during which the company addressed the following agenda items:
a) the cancellation of treasury shares and
b) the amendments to Article 5 (share capital) of the company?s Articles of Association and its codification thereof

Specifically, Shareholders approved:
the cancellation of 676,420 treasury shares, following the three year period which had elapsed since their acquisition, with subsequent reduction of share capital by euro 1,616,644, an amount equal to the shares being cancelled, as per Article 16, paragraph 12 of Codified Law 2190/1920 and transfer of the share purchase reserve amounting to 3uro 9,230,474, to extraordinary reserves and
-as a result of the aforementioned resolution-, the amendment to Article 5 (which refers to the company?s share capital) of the Articles of Association and its codification thereof in order to ensure coherency.