Announcement

Athens, July 1, 2014 –The HellenicTelecommunications Organization SA (OTE or the Company) announces, following the approval of its Board of Directors, the submission of a non-binding offer to FORTHNET for the acquisition of the  NOVA pay TV operations.

OTE has been developing its pay TV operations successfully during the past few years and sees significant growth potential for Greek pay TV services, to the benefit of consumers. OTE believes the intended agreement will be beneficial to all involved parties and is consistent with OTE Group's strategic priorities.    

OTE's non-binding offer is within the range of 250-300 million Euros on a debt free/ cash free basis of the aforementioned NOVA pay TV operations. In the event that an agreement is reached, it will be subject to clearance from the competent authorities.

Barclays is acting as OTE's financial advisor.

This announcement is published in accordance with Law 3556/2007, the Decision 1/434/03.07.2007 of the Hellenic Capital Market Commission, articles10 and 13 of Law 3340/2005 and the Decision 3/347/12.07.2005 of the Hellenic Capital Market Commission.