A. The company HELLENIC EXCHANGEABLE FINANCE S.C.A., in accordance with Article 10 of Decision 5/204/14.11.2000 of the HCMC Board of Directors, is announcing herewith that, in the period from August 2, 2005 until August 3, 2005, would sell 53,679,000 shares of HTO that had been given to it on 2/8/2001, through an Exchangeable Bonds transaction to the Greek State. The relevant transaction will be realized over the counter, in accordance with Article 15, par.11 of L.3632/1928.

B. The Greek State, which has a 34.69% holding in the share capital of the company Hellenic Telecommunications Org. S.A. (HTO), would purchase, in the period from 2/8/2005 until 3/8/2005, 53,679,000 common registered shares of HTO from the company HELLENIC EXCHANGEABLE FINANCE S.C.A. The said transaction will be also carried out over-the-counter.

C. The Greek State would purchase-through an over-the counter-transaction 53,679,000 HTO common registered shares from the company HELLENIC EXCHANGEABLE FINANCE S.C.A. in the period from August 2, 2005 until August 3, 2005.