COSMOTE acquires further spectrum

COSMOTE acquires further spectrum

in the 900 and 1800 MHz bands

Αthens, November 14, 2011 - Hellenic Telecommunications Organization SA (ASE: HTO, OTC MARKET: HLTOY), the Greek full-service telecommunications provider, announces that COSMOTE secured additional spectrum in the 900 & 1800 MHz bands in the auction conducted by the Hellenic Telecommunications and Post Commission (EETT). COSMOTE also renewed its current licence in the 900MHz band. By virtue of the total spectrum it now owns, the company will be able to invest further in developing its telecommunications network and meet even more successfully consumers' demand for advanced communication services.

In the first phase of the auction, COSMOTE secured three reserved blocks (totalling 2 x 7.5 MHz) in the GSM 900MHz band, until 29.9.2027, for a total price of EUR 54.3 million.

In the second phase of the auction, which was concluded today, COSMOTE was the highest bidder in the 900MHz band (2 x 2.5 MHz), until 29.9.2027, as well as the 1800MHz band (2 X 10 ΜΗz), until 31.12.2026, for a total price of EUR 64.533 million.

The total investment amounts to EUR 118.833 million.

Mr Michael Tsamaz, COSMOTE CEO, stated: "At a critical juncture for the country and the telecommunications sector, we have given the market a strong vote of confidence and are supporting economic recovery by investing in the future of mobile communications. The substantial spectrum we have secured for the following fifteen years enables us to plan our next steps for the further upgrading and development of our network with vision and determination, to offer our customers advanced services and innovative solutions, and to make sure we can continue to meet the strong competitive challenges we face. We believe that telecommunications are a driving force for growth and our significant investment in spectrum demonstrates exactly that".

OTE Group is Greece's leading telecommunications organization and one of the pre-eminent players in Southeastern Europe, providing top-quality products and services to its customers.

Apart from serving as a full service telecommunications group in the Greek telecoms market, OTE Group has also expanded during the last decade its geographical footprint throughout South East Europe, acquiring stakes in the incumbent telecommunications companies of Romania and Serbia, and establishing mobile operations in Albania, Bulgaria and Romania. At present, companies in which OTE Group has an equity interest employ about 32,000 people in four countries, and our portfolio of solutions 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. Following OTE's delisting from NYSE, OTE ADSs (American Depositary Shares) trade in the OTC (Over The Counter) market under the ticker HLTOY. OTE continues to report to SEC.

Additional Information is also available on: http://www.ote.gr/portal/page/portal/OTEGR/OTEMainPage

Contacts:

OTE: Dimitris Tzelepis - Head of Investor Relations

Tel: +30 210 611 1574, Email: [email protected] 

Maria Kountouri - Assistant to the Head of Investor Relations

Tel: +30 210 611 5381, Email: [email protected] 

Kostas Maselis-Senior Financial Analyst, Investor Relations

Tel: + 30 210 611 7593, Email: [email protected]

Sofia Ziavra - Financial Analyst, Investor Relations

Tel: +30 210 611 8190, Email: [email protected]

Daria Kozanoglou - Senior Communications & Regulatory Affairs Officer,

Investor Relations

Tel: +30 210 611 1121, Email: [email protected]

Eftychia Tourna - Communications & Regulatory Affairs Officer, Investor Relations

Tel: +30 210 611 7236, Email: [email protected]

Eleni Agoglossaki- Communications & Regulatory Affairs Officer, Investor Relations

Forward-looking statement