Reply of the HELLENIC TELECOM. ORGANIZATION S.A. to the related letter of the Athens Stock Exchange on November 6, 2001, concerning the takeover or merger of the Organization with INTRACOM and participation to the companies Netmed, Multichoice and SYNED

The organization announces that there is no relevant takeover, merger or holding agreement with a Greek or Foreign company.

The company stated that the HELLENIC TELECOM. ORGANIZATION S.A. administration will announce and confirm or refute facts or information regarding the scope of its activities towards such directions, when the said activities are part of its objectives and on the condition that they are sufficiently specified, so that they can be confirmed or refuted.