ATHENS, Greece - April 19, 2004 -The Board of Directors of Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announced that at a meeting held today the Board has approved the appointment of Mr Panagis Vourloumis as its new member, in replacement of Mr Spyros Floudas, who has tendered his resignation.

Mr Vourloumis was born in 1937 and is a graduate of the London School of Economics. He headed the South-East Asia division of the IFC (International Finance Corporation) from 1966 to 1973, was head of the Commercial Bank of Greece Group from 1979 to 1981, and was Chairman and CEO of ALPHA Finance, ALPHA Mutual Funds and ALPHA BANK ROMANIA, while at the same time serving as Executive Director of ALPHA BANK, from 1988 to 2000. Since 2000, Mr Vourloumis has been Chairman of FRIGOGLASS and the AEGEAN BALTIC B ANK.

At the same time, Mr Lefteris Antonacopoulos, Chairman and CEO of OTE, informed the Board that he intends to resign. During the next Board meeting, scheduled for May 5, a new Chairman and CEO will be appointed.