OTE SIGNS 900 MN SYNDICATED REVOLVING CREDIT FACIL

OTE SIGNS 900 MN SYNDICATED REVOLVING CREDIT FACILITY

ATHENS, Greece - February 10, 2011 - Hellenic Telecommunications Organization SA (ASE: HTO, OTC MARKET: HLTOY), the Greek full-service telecommunications provider, announces that it signed an agreement for a 900 million Euros Revolving Credit Ordinary Bond Loan facility with a consortium of 8 Greek and 8 International Banks. The Bond Loan will have a tenor of two years, with an extension option of one year and it carries an interest rate of Euribor plus an initial margin of 500 bps. OTE intends to draw initially an amount of only 600 million Euros, in order to repay the bond of 1.5 billion Euros issued in February 2008 and maturing on February 14th 2011. The remaining amount of 300 million Euros will be maintained by OTE Group as available undrawn backstop line.

The Chairman and CEO of OTE, Mr. Michael Tsamaz noted: "The significant demand generated for our syndicated credit facility, exceeding one billion euros, is an expression of the confidence the markets have in OTE's ability to withstand the pressures it faces in its operating and economic environment. OTE's continued access to external financing proves that the Group can continue to fund itself on a stand-alone basis, while at the same time shows the belief of the markets in high caliber Greek corporates.

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.

OTE shares are listed on the Athens Stock Exchange and the London Stock Exchange (in the form of GDRs). Following their delisting from NYSE in September 2010, the company's ADRs trade in the US OTC market. OTE's American Depositary Receipts (ADR's) represent 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