Athens, January 3, 2017 – The Hellenic Telecommunications Organization S.A. (OTE S.A. or the Company) announces that following the resignation, as of 01.01.2017, of Mr Vasileios Kafouros, non-executive member of the Board of Directors of OTE S.A., the Board of Directors of the Company has decided today to continue the management and representation of the Company without a replacement of the resigned member, in accordance with the Company's Articles of Incorporation.

The announcement is issued as a Regulated Information, in accordance with Law 3556/2007, [article 3, par. 1 (k) and article 21] and Regulation No 596/2014 of the European Parliament and of the Council on market abuse.