OTE and COSMOTE signed today the sale and purchase agreement for the transfer to COSMOTE of all the shares of OTE?s mobile subsidiaries, GloBul in Bulgaria and COSMOFON in FYROM (through the transfer of the shares of the Dutch holding company MTS which owns 100% of the shares of COSMOFON).

The transfer of GloBul?s shares has been completed today, while the transfer of MTS? shares is expected to be completed within this month, following the completion of the procedures required by the Dutch Law. The cash consideration of ? 490 million for the transfer of the aforementioned shares (? 400 million for GloBul and ? 90 million for COSMOFON) will be paid in two instalments: the first, amounting to ? 201 million, will be paid on the date of the completion of the transfer of MTS? shares, and the second, amounting to ? 289 million, will be paid within 40 working days following the payment of the first instalment.

Contact:
OTE Investor Relations OTE Media Relations
Tel. + 30 - 210 - 611 1574
Tel. +30 - 210 - 611 7434 + 30 - 210 - 611 8167
Fax. +30 - 210 - 611 5825 + 30 - 210 - 611 5070
Tel. +30 - 210 - 611 7434 + 30 - 210 - 611 1121
e-mail: media-office@ote.gr
e-mail: iroffice@ote.gr
COSMOTE Investor Relations
COSMOTE Media Relations
Tel. + 30 - 210 - 6177 428
Tel. +30 ? 210 - 6177 566
Fax. +30 ? 210 - 6177 377
Fax. +30 ? 210 - 6177 771
e-mail: ir@cosmote.gr
e-mail: MediaRelations@cosmote.gr

ABOUT OTE
Hellenic Telecommunications Organization (OTE S.A.) is the incumbent telecommunications provider in Greece, and together with its subsidiaries forms the leading group of companies in Greece in terms of revenue. OTE is among the largest companies of the Athens Stock Exchange, and is also listed in the New York (NYSE) and London (LSE) stock exchanges. Through its investments in the South-Eastern Europe, in both fixed and mobile telecom companies, OTE addresses a potential customer base of 60 million people. OTE shares: Athens SE, Reuters OTEr.AT. Bloomberg HTO GA. ADRs ( NYSE): Reuters OTE.N, Bloomberg OTE US, GDRs (LSE): Reuters OTEyq.L, Bloomberg OTES LI For more information, visit www.ote.gr
ABOUT COSMOTE
COSMOTE started commercial operations in Greece in April 1998, 5 years after its 2 competitors and in June 2001 was the only 3rd entrant to achieve 1st place in its market. Currently it has over 4 million customers in Greece with the leading market position. In addition COSMOTE operates in Albania through AMC the leading mobile operator in the country and in Romania, through COSMOROM which COSMOTE acquired in July 2005 in order to relaunch it. Moreover, COSMOTE has been managing Globul and COSMOFON since J anuary 2003, through a management agreement with OTE. In 2004 revenues exceeded ? 1.58 billion, while net profits reached ? 308.2 million. Both the Company's EBITDA margin (above 42%) and net profit margin (above 19%) remain consistently among the highest in Europe. COSMOTE's stock trades on the Athens and London Stock Exchange [Shares: Athens SE, Reuters COSr.AT. Bloomberg COSMO GA. ISIN GRS408333003. GDRs: LSE, Reuters COSq.L. Bloomberg CRM GR, CMBD LI]. For more information, visit www.cosmote.gr or www.cosmote.com.