16th Apr 2008 13:51
Hellenic Telecomms Organization S A16 April 2008 HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A. Announcement Athens, April 16, 2008 - The Hellenic Telecommunications Organization SA (OTE SA), in response to HCMC's (Hellenic Capital Market Commission) question, relatingto press articles citing OTE's entry in the real estate market, announces that: OTE SA's subsidiary, OTE Estate, has filed a request with the HCMC, on 10/4/2008, asking for a license for the operation of a Real Estate InvestmentCompany. This initiative is part of OTE Group's strategy for the crystallizationof the value of OTE Estate's real estate portfolio. OTE SA has beencommunicating this strategic objective to the investment community, via pressreleases and corporate presentations, for over a year. The value of the realestate assets that will be subscribed to the Real Estate Investment Company, asmentioned in the relevant press articles, will be no less than 250 million. About OTE OTE Group is Greece's leading telecommunications organization and one of thepre-eminent players in South-eastern Europe, providing top-quality products andservices to its customers. Apart from serving as a full service telecommunications group in the Greektelecoms market, OTE Group has also expanded during the last decade itsgeographical footprint throughout South East Europe, acquiring stakes in theincumbent telecommunications companies of Romania and Serbia, and establishingmobile operations in Albania, Bulgaria, the Former Yugoslav Republic ofMacedonia and Romania. At present, companies in which OTE Group has an equityinterest employ over 30,000 people in six countries, and our portfolio ofsolutions ranges from fixed and mobile telephony to Internet applications,satellite, maritime communications and consultancy services. Listed on the Athens Stock Exchange, the company trades under the ticker HTO aswell as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE'sAmerican Depository Receipts (ADR's) represents 1/2 ordinary share. Additional Information is also available on http://www.ote.gr. Contacts: OTE: Dimitris Tzelepis - Head of Investor Relations Tel: +30 210 611 1574, Email: [email protected] Nektarios Papagiannakopoulos-Senior Financial Analyst, Investor Relations Tel: +30 210 611 7593, Email: [email protected] Daria Kozanoglou - Communications Officer, Investor Relations Tel: +30 210 611 1121, Email: [email protected] Christina Hadjigeorgiou - Financial Analyst Tel: +30 210 611 1428, Email: [email protected] Forward-looking statement Any statements contained in this document that are not historical facts areforward-looking statements as defined in the U.S. Private Securities LitigationReform Act of 1995. All forward-looking statements are subject to various risksand uncertainties that could cause actual results to differ materially fromexpectations. The factors that could affect the Company's future financialresults are discussed more fully in the Company's filings with the U.S.Securities and Exchange Commission (the "SEC"), including the Company's AnnualReport on Form 20-F for 2006 filed with the SEC on June 28, 2007. OTE assumes noobligation to update information in this release. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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