Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announces that on July 16, 2008 OTE?s CEO, Mr. Panagis Vourloumis met with the Prime Minister, Mr. Mirko Cvetkovic and the Finance Minister Mr. Mladjan Dinkic of Serbia, in Belgrade.

The meeting was held as part of OTE?s initiative to inform the Serbian Government of the recent changes in OTE?s shareholder structure and to request an update on the intent of the Serbian Government to list Telekom Srbija on the Belgrade and London Stock Exchanges.

Telekom Srbija is Serbia?s incumbent operator. OTE holds a 20% stake and the Serbian Government holds the remaining 80% stake in Telekom Srbija.

The discussions during the meeting reaffirmed the long-standing cooperation and good relations of the parties.