OTE Names New CEO

ATHENS -- The Board of Directors of Hellenic Telecommunications Organization SA (ASE:HTO)(NYSE:OTE - News), the Greek full-service telecommunications provider, announced that at a meeting held today, it has appointed Mr Panagis Vourloumis as the new Chairman and CEO of OTE, in replacement of Mr Lefteris Antonacopoulos. This appointment will be ratified by the company's AGM to be held in June.

Mr Vourloumis was born in 1937 and is a graduate of the London School of Economics. He headed the South-East Asia division of the IFC (International Finance Corporation) from 1966 to 1973, was head of the Commercial Bank of Greece Group from 1979 to 1981, and was Chairman and CEO of ALPHA Finance, ALPHA Mutual Funds and ALPHA BANK ROMANIA, while at the same time serving as Executive Director of ALPHA BANK, from 1988 to 2000. Since 2000, Mr Vourloumis has been Chairman of FRIGOGLASS and the AEGEAN BALTIC BANK.