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, on May 20, 2008, Commerzbank AG's participation in OTE SA?s share capital and total voting rights has fallen below 5%, following a disposal of voting rights on May 15, 2008. According to the aforementioned notification, before this transaction, Commerzbank AG held 10.48% of the total voting rights of OTE SA, which corresponds to 51,365,377 shares and corresponding voting rights.