The 9th Ordinary General Meeting of COSMOTE's shareholders, held today, elected the new Board of Directors, while it approved the Financial Statements and payment of the dividend for the fiscal year 2005, amounting to Euro 0.65 per share. The Company's Chairman, Mr. Panagis Vourloumis, commented among others: "COSMOTE continues to meet its strategic objectives, strengthening its footprint and reinforcing its growth potential. The Company, with its dynamic expansion in South East Europe is paving the way for its establishment as a leading operator in the region, whilst its strategic initiatives, including the recent agreement to acquire GERMANOS S.A., highlight the continuous efforts to move a step ahead of industry developments aiming for long term growth." In his presentation, the Managing Director, Mr. Evangelos Martigopoulos, highlighted 2005 as a milestone year for COSMOTE. During 2005, COSMOTE, while maintaining its top position in the Greek mobile telephony market, has set the foundations to become a leading mobile operator in South East Europe. The benefits from the Company's expansion are already visible and are substantiated by the performance of all its subsidiaries in the Balkans. In particular, Mr Martigopoulos pointed out COSMOTE Romania's successful commercial launch and continuously increasing market visibility and market share position. Finally, Mr Martigopoulos referred to the recent agreement for the acquisition of Germanos S.A., which has been submitted for approval to the relevant national and foreign authorities, as key for the success of COSMOTE's commercial strategy in all markets it operates.

The new Board of Directors, elected by the 9th Annual General Meeting and whose term expires in June 2009, following its formation into a body, comprises:
P. Vourloumis, Chairman - Non executive member
K. Apostolides, Vice Chairman - Independent Non executive member
E. Martigopoulos, Managing Director - Executive member
I. Vezanis, Independent Non executive member
E. Despotou, Non executive member
G. Ioannidis, Non executive member
G. Mavrakis, Non executive member
C. Economou, Non executive member
Y. Sarantitis, Non executive member

The Annual General Meeting approved the payment of the proposed annual dividend for the fiscal year 2005 of ?0.65 per share. Shareholders entitled to this dividend, are all the holders of the Company's shares as at 13th June 2006, inclusive. Shares will be trading ex-dividend from June 14th 2006, while dividend payment will commence on June 22nd 2006 and will be carried out by EFG EUROBANK ERGASIAS Bank. The 9th Annual General Meeting of Shareholders also approved the discharge of the Members of the Board of Directors and the Auditors from any liability for damages for the fiscal year 2005, the compensation, remuneration and expenses of the Members of the Board of Directors and the Managing Director for the same year and the basic provisions of the contract of the Managing Director. The other items approved by the 9th Annual General Meeting of COSMOTE's Shareholders are the following:
- Appointment of KPMG Kyriacou Certified Auditors S.A. as the ordinary and deputy Chartered Auditors, for the fiscal year 2006, and determination of their remuneration.
- Grant of permission to the Members of the Board of Directors and to the Directors of the Company to participate in Boards of Directors or in the management of companies of OTE Group pursuing the same or similar objectives.
- The amendment of the Company's Articles of Association concerning the competence for the initiation of judicial proceedings and the codification of the Company's Articles of Association.
- The amendment of the private pension plan for the Company's executives.
- The issuance until 31.12.2008 of one or more loans or bonds to be subscribed by OTE Plc and the basic terms of these loans.
- The extension of the contract between COSMOTE and OTEPlus S.A. and the basic terms of the contract between COSMOTE and HELLASCOM S.A. concerning the subleasing of offices at No 90, Marinou Antipa Street, Heraklio of Attica.