HELLENIC TELECOM. ORG.

Announcement

On June 18, 2008 the Greek Parliament ratified the Share Purchase Agreement and the Shareholders' Agreement between the Hellenic Republic and Deutsche Telekom AG concerning OTE. These documents become effective as of the day of their ratification and provided that all conditions described in their terms have been fulfilled. The full texts of the Share Purchase Agreement and the Shareholders' Agreement, as forwarded to OTE SA by its shareholder the Hellenic Republic, are available at: www.ote.gr/english/investorrelations.