OTE ANNOUNCES NEW APPOINTMENTS OF EXECUTIVES

Hellenic Telecommunication Organization S.A. (OTE S.A.) announces the incorporation to its ranks of four new management team members. Coming to OTE from the private sector and taking on responsibilities in four of the key importance company's departments, the new members are: qConstantinos Kappos, Director General Information Systems qJordan Aivazis, Executive Vice Chairman of OTE International, OTE's International Investments subsidiary qDeppie Tzimea, OTE Group Corporate Communications Director qGeorge Rallis, Investor Relations ManagerMr. Kappos has a many years experience in the management of big projects both domestically and internationally and since 1998 held the position of Corporations Sector Director at the KANTOR consulting firm. He has also worked at Daimler-Benz Interservices in Germany as responsible for the development of ?debis? know-how (ERP-Enterprise Resource Planning Systems, Quality management/TQM, reorganization). He has a degree in Engineering Economics from Munich Polytechnic and a Degree in Mechanical-Electrical Engineering from the National Metsovio Polytechnic. He speaks English and German.Mr. Aivazis has a substantial tenure in the banking sector. Until today he has served as Director General of Egnatia Bank S.A. with responsibility, among others, for Corporate and Investment Banking activities, and as Vice-Chairman of Egnatia Mutual Fund management Company and as Chairman and Managing Director of Egnatia Leasing S.A. He holds a post-graduate degree in Marketing and Finance from the School of Business Studies at Lancaster University and a degree in Economics from the Department of Political & Economic Studies of the Law School of the University of Athens. He speaks English and French.Mrs. Tzimea has served until recently as Corporate Communications Director in Stet Hellas Communications S.A. She also has substantial experience in the advertising sector where she has worked, among others, as Account Director in ADEL Saatchi & Saatchi where she handled international clients. She received a post-graduate degree in Public Relations and Communications from Sterling University (Scotland) and a degree in Political Science from the Law School at Athens University.Mr. Rallis comes to OTE from Stet Hellas Telecommunications S.A. where he held the position of Director Business Plan & Control. Moreover, Mr. Rallis has valuable experience from his tenure at British Telecommunications Plc. He has a post-graduate degree in Management from Lancaster University and a degree in Mathematics from the Aristotle University of Thessaloniki.The above individuals are undertaking responsibilities at OTE at a critical point characterized by enhanced competition and the need to respond quickly and effectively to the new business environment.

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