The Hellenic Telecommunications Organization SA (OTE SA), announces that: Following the decision no. 12/435/12.7.2007 of the Hellenic Capital Markets Commision, OTE has been granted the permission to proceed with the sale of a total of 896,967 shares; which had not been dematerialized (are still in paper form) by October 31, 2006 (closing date set by the Hellenic Capital Markets Commision); for the account of the beneficial owner of the securities. In addition, according to the same decision (12/435/12.7.2007), NUNTIUS Securities SA has been designated as the broker-member of the Athens Stock Exchange that will execute the transaction. The sale of the shares will commence on Monday, July 23, 2007 and will be conducted according to the provisions of decision no. 1/380/4.5.2006 of the Hellenic Capital Markets Commision and the provisions of Article 99A of the Athens Stock Exchange Regulation.