Hellenic Telecommunications Organization S.A. (OTE)

Corporate

Hellenic Telecommunications Organization S.A. (OTE) is the incumbent telecommunications provider in Greece, and together with its subsidiaries forms the leading group of companies nationwide.

At the same time, OTE is among the five largest listed companies with respect to capitalisation, in the Athens Exchange (ATHEX). OTE is also listed in the stock exchanges of New York (NYSE) and London (LSE). Its shares are included in various indexes, such as the FTASE/ASE 20 and the FTSE Eurotop 300. Since 1996 (when OTE was a state-owned monopoly), the Greek state has been gradually reducing its participation in OTE's share capital. Today, the state owns 38,7% of OTE's share capital.

With local, long distance and international communications services in addition to mobile telephony, Internet services, and high-speed data communications, OTE provides consumers and business the ability to communicate globally through its extensive network infrastructure. OTE, through its investments in South-East Europe, addresses a potential customer base of 60 million people.

Vision
With the vision to be the customers' first choice in Greece and South-East Europe in every business sector it is involved, the OTE Group pursues its continuous profitable development in a competitive market, becoming involved in technological, commercial, economic and social changes, at an international level.

Mission
Our mission is to remain the leading telecommunications company in Southeast Europe, by providing high standard services to all our customers, by constantly developing our people and adding value to our shareholders.

Goals
For the next three years, we focus on consolidating our leading position in the domestic market, expanding our customer-oriented philosophy, providing integrated solutions to all our customers, improving the efficiency and effectiveness of our organisational structure and on attaining profitable new investments.

Our Priorities:

• Ensuring Competitive Fixed Telephony in Greece focusing on broadband development
• Developing Mobile Telephony and the Internet
• Restructuring our International Activities
• Achieving Effective financial performance for the OTE Group

Corporate Governance
Achieving one of our main strategic goals entails the application of corporate governance principles. Our purpose is not only to provide valid and detailed information to our investors, but also strengthen their unreserved confidence in us, become more efficient, make our performance and strategy more transparent and our management practices more reliable.
    
OTE follows the principles of corporate governance for listed Greek companies set forth in Law 3016/2002 and the decision of the Capital Markets Commission nr. 5/204/14.11.2000. Within this framework, OTE has implemented key principles of corporate governance that define the:

• Composition of the Board of Directors
• Transparency and disclosure of information and
• Respect for the rights of shareholders

Strategy
Our strategy reflects our unrelenting determination to provide increasing value to our shareholders and to offer best-in class products and services to our customers.

With a strong resolve to maintain our market leadership position in an increasingly competitive environment, we are continuously monitoring and reviewing the performance of other major European players and identifying those factors which have a decisive influence on value creation.

We are now more committed than ever to unlocking all the strengths that exist within our organisation and to setting the foundations for sustained, value-oriented growth, increased customer satisfaction and loyalty. All of our business efforts must ensure and reinforce the product and brand quality our customers have grown to expect from us, which we believe, will ultimately further increase the value of our company.

We are thus focused on:

• Optimising all processes by means of sustainable cutting of costs and a lasting improvement of flexibility and productivity
• Broadening our product and services portfolio with special emphasis on broadband voice and data services that bring benefits to the lives of people
• Implementing programmes designed to improve the quality of our customer service and enhance customer satisfaction

Improving profitability through:

1. Tariff policies
2. Cost control
3. Rationalisation of capital expenditure
4. Implementation of an aggressive commercial strategy to contain competitive pressure

Simplifying our organisational structure and optimising our corporate governance by focusing on the conduct of our operations within a transparent regulatory framework

• Bolstering our relationship and cooperation with the regulator in order to assist in fostering a healthy competitive environment in Greece
• Capitalising on the opportunities that are available in the evolving mobile market in Greece and South-East Europe, and achieving further growth in our foreign mobile subsidiaries under COSMOTE's management

Streamlining our operations with particular focus on resolving issues arising from underperforming operations both in Greece and abroad.