Press Releases: Greece

HELLENIC TELECOM S.A.
The OTE Group sold its total participation in the share capital of LOFOS PALLINI SA
August 1, 2008 Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announces that on July 31, 2008, the OTE Group sold its total 33.0% participation in the share capital of Lofos Pallini SA, a real estate development, to REDS SA for a total consideration of euro 18.45 million.
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.