OTE Announces New Tariffs for Leased Lines and Data Network Services.

Business Editors

ATHENS, Greece--(BUSINESS WIRE)--Feb. 13, 2003

Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, today announced a rebalanced package for Leased Lines and Data Network Services and introduced a new discount package "datapack" for its corporate clients, that will be available from 31st March, 2003.

According to the new tariff policy for Leased Lines, announced earlier today, OTE is reducing all its Digital Domestic Long Distance and International Leased Lines by 30%. Digital Local Leased Lines will be reduced by up to 30% (7 of the 9 subcategories), while the remaining two subcategories and the Analogue Local Lines will be increased by 3.8% to 12%.

The reduction of tariffs for Data Network Services will range from 22% to 28% for the Frame Relay services of the Hellaspac network, as well as for the Hellasstream net network services (Cell Relay, Frame Relay and Circuit Emulation).

For those entities that have been issued a telecommunications provider license by the NTCP, an additional Leased Lines tariff reduction of up to 5% is foreseen.

Additionally, OTE has developed a new discount package, the "datapack", that provides its customers with a reduction of up to 25% depending on volume usage, and based on the yearly billings for their national Analogue and Digital Leased Lines, Frame Relay services of the Hellaspac network and Hellasstream network services (Cell Relay, Frame Relay and Circuit Emulation).

As Mrs. Soula Evans, General Manager of Business and Residential Customers, stated: " Consistent with the implementation of our commercial policy and with the priorities that we have stipulated for the provision of quality services in the best possible price and the creation of packages, we announce today our new tariffs as well as the new discount package `datapack'. Our goal is to meet our clients' needs more effectively and to facilitate further development and use of contemporary technologies."

Note: The new tariffs are available to www.ote.gr

About OTE

OTE is a provider of public, fixed switched domestic and international telephony services in Greece. With local, long distance and international communications services in addition to mobile telephony, Internet services, and high-speed data communications, OTE provides consumers and businesses the ability to communicate globally through its extensive network infrastructure. In addition, OTE has a number of International investments in the South East European region and addresses a potential customer base of 60 million people.

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 1/2 ordinary share.

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

Email: [e-mail]

Forward-looking statement

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the Company's future financial results are discussed more fully in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 20-F for 2000 filed with the SEC on July 15, 2002.

Short Name: Hellenic Telecomms

Category Code: MSC 

Sequence Number: XXXXXXXX

Time of Receipt (offset from UTC): 20030213T164501+0000