COSMOTE announces that its Board of Directors approved yesterday the issuance, within November 2006, of two inter-company bonds, a floating rate bond of Euro 600 million, with a duration of three years and a fixed rate bond of Euro 900 million, with a duration of 9.5 years, which will be fully subscribed by OTE''s subsidiary, OTE plc. The proceeds of these loans will be used for the refinancing and replacement of the existing bond program of up to Euro 1.5 billion, which was structured for the bridge financing of the acquisition of GERMANOS S.A.