COSMOTE MOBILE TELECOMMUNICATIONS S.A. announces that its Board of Directors approved today the issuance in November 2006 of a 5-year bond of a face value of euro 500m that will be fully undertaken by OTE''s subsidiary OTE plc. The proceeds of the bond will be used for the refinancing of COSMOTE''s euro 650 million current debt liabilities to OTE plc, that are maturing during November 2006 and February 2007.