NYSE delisting

OTE filing for delisting from the NYSE

Athens, Greece - August 30, 2010 - On May 12, 2010 Hellenic Telecommunications Organization SA (ASE: HTO; NYSE: OTE) announced its intention to delist its American Depositary Shares ("ADSs") from the New York Stock Exchange ("NYSE") and to terminate its registration and reporting obligations under the U.S. Securities Exchange Act of 1934.

Today OTE provided written notice to the NYSE of its intention to apply for the delisting of its ADSs from the NYSE. OTE expects to file Form 25 on or about September 9, and delisting to become effective on or about September 20. Following delisting from the NYSE and upon meeting the criteria for termination of registration, and in compliance with applicable rules and regulations, OTE intends to file a certification on Form 15F with the U.S. Securities and Exchange Commission ("SEC") to terminate the registration of its equity securities.

OTE also intends to establish and maintain an American Depositary Receipt program on a so-called "Level I" basis in order to enable investors to trade ADSs in the US over-the-counter (OTC) market.

OTE will update investors on developments with regard to the process of delisting and deregistration of its ADSs.

Each ADS represents one half ordinary share of OTE.

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 as well as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE's American Depository Receipts (ADR's) represents ½ 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] 

Maria Kountouri - Assistant to the Head of Investor Relations

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

Christina Hadjigeorgiou - Financial Analyst, Investor Relations

Tel: +30 210 611 1428, Email: [email protected]

Dimitris Tsatsanis - Financial Analyst, Investor Relations

Tel: +30 210 611 6071, 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]

Forward-looking statement