HELLENIC TELECOM. ORG.

Announcement

The Hellenic Telecommunications Organization SA (OTE SA), announces that:
Marfin Investment Group's participation in OTE SA's share capital stands at 18.4551%, amounting to 90,457,663 shares with corresponding voting rights. This participation in OTE's share capital includes: a) a 7.8924% stake in OTE's share capital, amounting to 38,684,693 shares with corresponding voting rights which are directly owned by Marfin Investment Group and b) a 10.5627% stake in OTE's share capital, amounting to 51,772,970 shares with corresponding voting rights, which Marfin Investment Group is entitled to acquire pursuant to the terms of financial instruments (total return equity swaps), with the relevant voting rights exercised pursuant to Marfin Investment Group's instructions. It should be noted that the aforementioned stake (10.5627%) includes the 4.4421% participation of Marfin Investment Group in OTE's share capital (amounting to 21,772,970 shares with corresponding voting rights), pursuant to the terms of a financial instrument (total return equity swap) agreement between Marfin Investment Group and CommerzBank AG, as publicly announced on 22/10/2007.