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HELLENIC TELECOM S.A.

Announcement

May 21, 2008

Αthens, May 21, 2008 - The Hellenic Telecommunications Organization SA (OTE SA), in accordance with Law 3556/2007, announces that: According to the notification of its shareholder THE ROYAL BANK OF SCOTLAND GROUP PLC, on May 20, 2008, THE ROYAL BANK OF SCOTLAND GROUP PLC?s participation in OTE SA?s share capital and total voting rights has fallen below 5% and stands at 0.20%, which corresponds to 1,000,000 voting rights, following a disposal of voting rights on May 15, 2008. According to the aforementioned notification, before this transaction, THE ROYAL BANK OF SCOTLAND GROUP PLC held 9.34% of the total voting rights of OTE SA, which corresponds to 45,800,000 shares and corresponding voting rights.



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.


     




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