OTE Group Reports 2007 Fourth Quarter Results Under IFRS

ATHENS, Greece — Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, today announced audited consolidated results (prepared under IFRS) for the quarter and twelve months ended December 31, 2007.

RomTelecom

OTE, through its wholly owned subsidiary OTE International Investments Ltd, holds a 54.01% interest in RomTelecom S.A., the incumbent telecommunications operator in Romania.

In the fourth quarter of 2007, RomTelecom operating revenues were down 3% from the same period in 2006. The overall drop in traditional telephony services as well as reduced wholesale and payphone revenues, together with the impact of a reduction in tariffs implemented in Q2’07 for both voice and ADSL products were partly offset by strong growth in new services, notably broadband, business data & TV services.

Success of the direct-to-home TV service launched in November 2006 continued in the fourth quarter of 2007, with the acquisition of close to 100,000 new customers in the three months bringing the total number of subscribers to 390,000 at year end. Reflecting growth in ADSL and DTH TV, revenues from sales of Customer Premise Equipment (CPE) rose by over 400% in the quarter.