Management Changes

MANAGEMENT CHANGES

ATHENS, Greece - December 21, 2012 - Hellenic Telecommunications Organization SA (ASE: HTO, OTC MARKET: HLTOY), the Greek full-service telecommunications provider, announces that as of 1st January 2013 the following organizational changes will be in effect in OTE Group General Financial Division, where Babis Mazarakis holds the position of OTE Group Chief Financial Officer:

1. Mr Georgios Mavrakis, who held the position of OTE Chief Financial Officer, will head up OTE Group Financial Operations.

2. Ms Emily Filippou-Klöpfer, who held the position of COSMOTE Group Chief Financial Officer, will head up OTE Group Controlling.

3. Mr Georgios Christodoulopoulos, who held the position of Deputy Chief Executive Officer of Telecom Serbia, will head up OTE Group Procurement.

4. Mr Panos Kaliabetsos, will continue heading up OTE Group Capital Management.

5. Mr Evrikos Sarsentis will head up OTE Group Mergers, Acquisitions and Special Finance Projects.

6. Mr Dimitris Tzelepis will continue to head up Investor Relations.

7. Mr Nikos Chourdakis will head up OTE Group Customer Finance.

In addition, Mr Elias Drakopoulos, who holds the position of OTE Chief Technology and Operations Officer, will assume the position of Senior Vice President (SVP) Business Excellence in Europe and Technology Board Area of DT. Mr K. Liamidis, will be assuming the interim position of OTE Chief Technology and Operations Officer, as of December 15, 2012 and will continue to maintain the position of Chief Officer of International Affairs for OTE Group.

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, having acquired a stake in the incumbent telecommunications company of Romania and establishing mobile operations in Albania, Bulgaria and Romania. At present, companies in which OTE Group has an equity interest employ more than 29,000 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.

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

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]

Christina Hadjigeorgiou - Financial Analyst, Investor Relations

Tel: +30 210 611 1428, 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

Tel: +30 210 611 7880, Email: [email protected]