HELLENIC TELECOM. ORG.

ANNOUNCEMENT

Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, today announced that the Cypriot company Cyprus Trading Corporation Plc (CTC) has agreed to acquire OTE Group΄s stakes in the companies OTENET Cyprus Ltd and OTENET Telecommunications Ltd for euro 3.9 mllion. The agreement is subject to approval by the relevant authorities.