Major Companies of the Group

OTE SA is the parent company of a group of subsidiaries active in all aspects of telecommunications and other related businesses, incorporated both in Greece and abroad. The following table provides information relating to OTE’s subsidiaries as of September 30, 2011 and includes OTE’s direct participation as well as our indirect participation through the ownership interests held by OTE’s subsidiaries:

Subsidiaries	Country of Incorporation	Type of Business	% Interest as of 31/3/2011
OTE International Investments Ltd.	Cyprus	Holding company, international investments	100.0%
RomTelecom S.A.	Romania	Fixed & mobile telephony provider	54.0%
Hellascom S.A.	Greece	Telecom projects	100.0%
ΟΤΕ Plus S.A.	Greece	Consulting services	100.0%
OTE Estate S.A.	Greece	Real estate	100.0%
OTE SAT - Maritel S.A.	Greece	Satellite comm	94.1%
OTE International Solutions S.A. (OTE GLOBE)	Greece	International wholesale voice and data services	100.0%
OTE Insurance Αgency S.A. (OTE Insurance)	Greece	Insurance	100.0%
CosmoONE Hellas Market Site S.A. (Cosmoone)	Greece	e-commerce	61.7%
Hellas Sat S.A	Greece	Satellite comm	99.1%
ΟΤΕ Academy S.A.	Greece	Continuing education	100.0%
Cosmote S.A.	Greece	Mobile comm	100.0%
Cosmo Bulgaria Mobile EAD. (Globul)	Bulgaria	Mobile comm	100.0%
Albanian Mobile Communications (AMC)	Albania	Mobile comm	97.2%
Cosmote Romania (Cosmote Romania)	Romania	Mobile comm	86.2%
Germanos SA	Greece	Retail services	100.0%
Germanos SA Telecom Bulgaria A.D	Bulgaria	Mobile comm	100.0%
Germanos SA Telecom Romania A.D	Romania	Mobile comm	100.0%
Telemobil S.A. (Zapp)	Romania	Mobile comm	100.0%