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THE 4TH ANNUAL CAPITAL LINK FORUM CONFERENCE
Monday October 30, 2000

"GREECE: YOUR EMU PARTNER IN SOUTHEASTERN EUROPE"

HELLENIC TELECOMMUNICATION ORGANIZATION S.A.

BRIEF CORPORATE PROFILE

The Hellenic Telecommunication Organization (OTE) is the key player in the Greek telecommunications sector, with an instrumental role in the greater Balkan region. OTE provides its customers with a full range of telecommunication services and is the exclusive public switched telephony operator in Greece. As of January 1, 2000, OTE has approximately 5.5 million customers in Greece and 300,000 shareholders.

OTE operates in the most rapidly developing sector of the Greek economy and with the highest profitability. In June 1999, OTE successfully completed its fourth public offering of shares. On November 2nd 1998, OTE became the first Greek company to enter the largest stock exchange of the world, the New York Stock Exchange.

As part of its international investment strategy and in order to become a leading telecommunications operator in Southeastern Europe, OTE has acquired 20% of Telecom Serbia, 90% of Armen Tel (Armenia) and 35% of Romtelecom (Romania) plus control of its management. Moreover, OTE and its subsidiary, HellasCom International own a 50% stake at TransJordan Telecommunications Services, a company involved in the installation and operation of cardphones. Meanwhile, its subsidiary, COSMOTE, recently acquired 85% of the Albanian Mobile Telephone Company AMC.

OTE is currently modernizing is organization and network by increasing the capacity and quality of the local trunk network, offering more high-speed lines to cover new demands, as well as wide range of new services, such as ISDN, ATM, and Intelligent Network Services.

Nowadays, OTE forms a dynamic group of companies, already facing increased competition in its markets with great success. OTE's subsidiary, OTENET, is one of the dominant Internet Service Providers, while COSMOTE, nowadays, has 31% of the mobile telephony market share with more than 1,500,000 customers. Other subsidiaries are: OTE CONSULTING, OTESAT, HELLASCOM International, MARITEL, OTE LEASING, OTE INSURANCE and OTE EXCHANGE are heading for merging or liquidation. In parallel, the formation of new companies are under way in areas of activity such as e-commerce, digital television etc.

OTE is successfully transforming from a state-run monopoly to a customer-oriented corporation in the telecommunications industry, in accordance with the expectations and demands of a free economy.

ORGANIZERS