Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, in accordance with the Law 3461/2006 (Article 27) and in conjunction with the Decision 7/466/7.3.2008 of the Board of Directors of the Hellenic Capital Market Commission announces that OTE SA is obliged to acquire the remaining shares of COSMOTE SA which have not been purchased by OTE SA by March 31, 2008 (final trading date).

OTE SA will pay euro 26.25 per share and the respective amounts will be deposited, on behalf of the beneficiaries, in:

a) Beneficiaries brokerage accounts, under the condition that the beneficiaries have provided the brokerage accounts operators with the required authorization.

b) The Deposit and Loans Fund, in the name of the beneficiaries, in case they have not provided the brokerage accounts operators with the required authorization.

About OTE

OTE Group is Greece's leading telecommunications organization and one of the pre-eminent players in Southeastern Europe, providing top-quality products and services to its customers. Apart from serving as a full service telecommunications group in the Greek telecoms market, OTE Group has also expanded during the last decade its geographical footprint throughout South East Europe, acquiring stakes in the incumbent telecommunications companies of Romania and Serbia, and establishing mobile operations in Albania, Bulgaria, the Former Yugoslav Republic of Macedonia and Romania. At present, companies in which OTE Group has an equity interest employ over 30,000 people in six countries, and our portfolio of solutions ranges from fixed and mobile telephony to Internet applications, satellite, maritime communications and consultancy services. Listed on the Athens Stock Exchange, the company trades under the ticker HTO as well as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE?s American Depository Receipts (ADR?s) represents ½ ordinary share. Additional Information is also available on http://www.ote.gr. Contacts:

OTE: Dimitris Tzelepis- Head of Investor Relations

Tel: +30 210 611 1574, Email: dtzelepis@ote.gr

Nektarios Papagiannakopoulos - Senior financial analyst, Investor Relations

Tel: +30 210 611 7593, Email: npapagiannakopoulos@ote.gr

Daria Kozanoglou - Communications Officer, Investor Relations

Tel: +30 210 611 1121, Email: nkozanoglou@ote.gr Christina

Hadjigeorgiou - Financial Analyst Tel: +30 210 611 1428, Email: cchatzigeo@ote.gr