COSMOTE Romania adds more than 1 million customers in 2009

Bucharest, February 25, 2010

COSMOTE Romania announces key performance indicators for the 2009 financial year, ended December 31, 2009, as reported today by OTE Group.

During the last financial year, COSMOTE Romania continued its positive performance in the market having boosted net additions as well as its market and revenue share, despite the current difficult economic environment.

Total customer base reached 6.9 million at the end of 2009, up by over 17% on a yearly basis, with aprox. 19% postpaid. The company managed to gain 1.027 m. customers in 2009, proving Romanians' trust in COSMOTE's products and services.

Total revenues in 2009 reached 423 million Euro, posting a 36.1% growth y-o-y. Service revenues increased by 6.4% compared to an overall market drop of aprox. 20% (excluding COSMOTE). At the same time EBITDA stood at 66.1 million Euro, showing a three-fold increase compared to 22.5m. for 2008.

"We are very pleased with the company's performance, considering the challenges of an unstable economic environment and a saturated and highly competitive market. COSMOTE Romania's positive evolution reflects an appropriate business planning and ability to adapt and respond to a difficult environment. We remained leaders both in net additions and portability, being the first choice operator in the market, sustained by a strong retail network and by the most relevant products and services portfolio. The successful track of 2009 enables us to better face the challenges of 2010, focusing on the corporate segment and the mobile broadband market", said Konstantinos Apostolou, CFO COSMOTE Romania.

Blended ARPU for 2009 was 5 Euro, effectively stable compared to the previous year.

During its 5 years of activity on the market, COSMOTE solid investments plans, exceeding 680 million Euro, show the company's substantial contribution to the Romanian economy. The company will continue to invest and develop its activities on the market focusing on extending further its market share gains and improving its financial performance.

Despite the challenges posed by the ongoing financial crisis COSMOTE Group continued to post positive results. The Group's customer base reached almost 22m. up aprox. 14% compared to 2008. During the forth quarter, COSMOTE Group further maintained its market leadership in Greece and expanded its revenue share in Romania, with operational performance in excess of market performance in the countries of the Group's presence.