HELLENIC TELECOM. ORG.

ANNOUNCEMENT

The Hellenic Telecommunications Organization SA (OTE SA), announces that its Greek fixed-line's Division of Business and Residential Customers has been split into two separate entities. The two new divisions are:
- Corporate and Business Customers, headed by Mr. Elias Drakopoulos, Managing Director of OTENet
- Residential Customers, headed by Mr. Panos Sarantopoulos, until recently Deputy Chief Technology Officer
The new General Directors, who took office on December 18, will have full responsibility for overall customer service of their respective division, will define their commercial strategy, and conduct the development of relevant products and solutions. In addition, Mr. Drakopoulos will be responsible for the implementation of relevant projects and services, as well as for the overall support of all business and corporate customers. The decision to reorganize the Division of Business and Residential Customers should enable OTE's fixed-line operations in Greece to improve their responsiveness in the face of heightening competition in the telecommunications sector, better address technological convergence and growing customer needs for integrated high-quality solutions, and raise their practices to best international standards.
Mrs. Soula Evans, who until now was General Director of Business and Residential Customers, will assume new responsibilities as consultant to OTE's management. Mr. Panagis Vourloumis, Chairman and CEO of OTE, thanked Mrs. Evans for her contribution in the past several years and wished the two new General Directors every success in their duties.
Notes to Editors
Elias Drakopoulos: Mr. Drakopoulos holds a BSc in Electrical Engineering from Aristotle University of Thessaloniki and a Masters Degree and PhD in Telecommunications from Northwestern University in Evanston, Illinois, USA. Mr. Drakopoulos also has a graduate degree in Business Management and Strategy from INSEAD, France. From 1989 to 1998, Mr. Drakopoulos held various managerial positions at AT&T, Bell Laboratories and Lucent Technologies in the US, where he was responsible for design and techno-economical matters. In 1998, he was appointed Director of Network Planning at Lucent Technologies for Europe until 2001 and subsequently until January 2003 Vice President of Solutions, Business Development and Marketing for Europe. He was appointed OTENet General Manager in February 2003 and Managing Director in February 2007.
Panos Sarantopoulos: Mr. Sarantopoulos holds a BSc in Electrical Engineering from the National Technical University of Athens. He has extensive experience in the Telecommunications and IT industry, having worked at Hewlett Packard Hellas as Sales Engineer and Sales Manager for Test & Measurement Solutions and at OTE as Telecom Engineer. From April 1990 until March 2001, he held various managerial positions at Quest Group, including the position of General Manager of Hellas On Line (April 1997-March 2001). In April 2001, Mr. Sarantopoulos joined OTENET as General Manager of Consumer Products and Services and then held the position of General Commercial Manager until February 2007 when he joined OTE as Deputy CTO.