Press Releases: Greece

HELLENIC TELECOM S.A.
SQUEEZE OUT PROCEDURE AND CESSATION OF TRADING
March 20, 2008 By virtue of its decision No. 7/466/7.3.2008, the Board of Directors of the Hellenic Capital Market Commission, approved the application of OTE S.A. for the sqeeze out of the shares of COSMOTE S.A. according to art. 27 of law 3461/2006. The 1st of April 2008 has been determined as the day of cessation of trading of the shares of COSMOTE S.A.
For further information, please contact: Mr. Dimitris Tzelepis, Head of Investor Relations, Tel: +30 210 611 1574, Fax: +30 210 6111030. Distributed by Capital Link Inc. in New York at (212) 661-7566. (Nicolas Bornozis, President) This information can be also accessed on Hellenic Telecommunication Organization's website at www.ote.gr or on Capital Link website at www.capitallink.com with historical company news.