Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announces that its wholly owned subsidiary, OTE plc, yesterday launched an offering of bonds under its Euro 5 billion Global Medium Term Note Programme, guaranteed by Hellenic Telecommunications Organization SA. Subject to market conditions, the bonds are expected to be issued in mid-November, following a pan-European roadshow. OTE plc plans to issue two tranches of bonds, in an aggregate amount of up to Euro 1.5 billion. Hellenic Telecommunications Organization SA has mandated Citigroup, Dresdner Kleinwort, JP Morgan and NBGI as joint bookrunners for this issue. The proceeds from the bond issue will refinance the Euro 1.5 billion bridge facility of Cosmote SA, which was signed in August 2006 to fund the acquisition of Germanos SA, and for general corporate purposes.