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GLOBULEXPANDS POSTPAIDCUSTOMER BASE BY 8% IN Q3’2010,

SUSTAINSEBITDA MARGIN

Sofia, November 4, 2010 - GLOBUL continued expanding its postpaid customer base during the third quarter of 2010, despite ongoing challenges as the financial crisis continued to impact consumer spending while intensified competition has led to the erosion of retail prices in the corporate segment.

Specifically, GLOBUL’s postpaid customer base increased by nearly 8% from Q32009, reaching a total of 2.2 million, or 57% of total customer base. GLOBUL has continued migrating prepaid customers to postpaid through innovative offers, and this, together with the prepaid registration process, has led to a decrease in the prepaid customer base. As a result, GLOBUL’s total customer base at the end of Q32010 reached approximately 3.9 million.

GLOBUL’s fixed line services exhibited strong growth in Q32010, with the subscriber base exceeding 100,000 customers.

Service revenues declined by only 4.9% in Q32010, mainly due to macroeconomic factors, intense competition in the business postpaid segment and lower interconnection rates.

Despite the challenging business environment, GLOBUL & GERMANOS managed to reduce the cost base by over 16% compared to Q32009 through consistent cost rationalization initiatives focusing primarily on sales, distribution, advertising and administrative expenses, and partially supported by the lower interconnect rates.

EBITDA margin for the 9 month period remained in line with 2009, increasing by 0.7pp up to 39.9%.

Average usage per customer continued to grow with blended AMOU for Q32010 at 141 min, or 15% above Q32009, while blended ARPU for Q32010 has reached BGN 17.1, or 2.9% belowsame period prior year.

Summary Financial Results for GLOBUL & Germanos for the 3 months and 9 months, ended September 30, 2010 & 2009.*

Mln BGN / 07-09.2010 / 07-09.2009 / change / 01-09.2010 / 01-09.2009 / change
Total Revenues / 207.8 / 248.7 / -16.4% / 618.6 / 688.4 / -10.1%
EBITDA / 85.0 / 101.9 / -16.5% / 246.7 / 269.7 / -8.6%
EBITDA margin / 40.9% / 41.0% / 39.9% / 39.2%

*Total figures are after COSMOTE intragroup eliminations.

Summary Financial Results for COSMOTE Group for the 3 months and 9 months, ended September 30, 2010 & 2009.

Mln EUR / Q3’10 / Q3’09 / change / 9M’10 / 9M’09 / change
Total Revenues / 723.3 / 791.1 / -8.6% / 2,120.4 / 2,261.5 / -6.2%
EBITDA / 266.9 / 313.6 / -14.9% / 737.0 / 824.8 / -10.6%
EBITDA margin / 36.9% / 39.6% / -2.7pp / 34.8% / 36.5% / -1.7pp

GLOBUL is the trademark under which Cosmo Bulgaria Mobile EAD offers mobile telecommunications services in Bulgaria. The company is 100% owned by COSMOTE (member of OTE Group), the operator with the strongest presence in Southeast Europe. As of the end of September 2010, GLOBUL has 3,9 million subscribers, while its services are available to 99.98% of Bulgaria’s population, covering over 99.11% of the country’s territory. GLOBUL UMTS network covers 85% of the population. GLOBUL along with GERMANOS employ more than 2,300 people in the country. COSMOTE Group at the end of Septemer 2010 has approximately 21.3 million customers in SE Europe.

GLOBUL

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