Table of Contents. Fact Book 2009 Page 1

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1 Fact Book

2 Table of Contents Table of Contents MONTH BY MONTH OPERATIONAL BACKGROUND Organisational The most important developments in ATHEX MARKETS OVERVIEW Cash Market Derivatives Market TRADING BACKGROUND Securities Market Fixed Income Securities Shares Trading Derivatives Trading Trading on the EN.A E.T.F s Trading Model Trading commissions ATHENS EXCHANGE INDICES Indices calculated and managed by ATHEX Indices calculated in conjunction with FTSE International Ltd Indices calculated in cooperation with FTSE International Ltd and other exchanges Indices on Greek shares calculated by international organisations Indices which include Greek shares, calculated by international organisations Indices calculated in conjunction with other financial institutions New Indices STATISTICS HELEX CLEARING & SETTLEMENT OF CASH & DERIVATIVES MARKETS Dematerialised Securities System (DSS) Clearing Procedure Settlement Cash Settlement Derivatives Settlement Over the Counter OTC Fees ATHENS EXCHANGE S.A. DERIVATIVES MARKET TRADING General information Technology Membership and Client Accounts Summary of the year ORGANISATIONAL ENVIRONMENT HELLENIC EXCHANGES S.A. (HELEX) THESSALONIKI STOCK EXCHANGE CENTRE INVESTMENT Mutual funds PROVISION OF SUPPORT SYSTEMS TO MARKET PARTICIPANTS MarketSuite Products PUBLICATIONS STATISTICAL INFORMATION PRODUCTS EDUCATION Education & Training Services LISTED FIRMS ATHEX MEMBER FIRMS ATHEX ADMINISTRATION KEY CONTACTS Page 1

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4 Month by Month Page 3

5 MONTH BY MONTH January Daily average value of transactions: 529, Daily average trading volume in equities: 59,672,256 Daily average number of trades in equities: 53,549 The festive start of the first trading session of 2008 took place at the building of Athens Exchange on Athinon Ave, with the traditional ringing of the bell. The Board of Directors of Athens Exchange approved the listing of the shares of ETF ALPHA ETF FTSE Athens 20 in the ETF segment of the ATHEX cash market. February Daily average value of transactions: 372,460, Daily average trading volume in equities: 42,992,630. Daily average number of trades in equities: 37,690 On the 21 st of February, the Alternative Market started at ATHEX. The Board of Directors of Athens Exchanges approved the listing of Epsilon Net, Mediterra as well as Envitec Technical & environmental Projects, in the Alternative Market (EN.A) The World Federation of Exchanges (WFE), numbering 55 exchanges from all over the world as members, organized in Athensthe 6 th Banking Forum Economist Conferences. March Daily average value of transactions: 444,513, Daily average trading volume in equities: 55,905,172 Daily average number of trades in equities: 44,311 On Monday March 3rd 2008, the new structure of the sector classification model FTSE Dow Jones Industry Classification Benchmark (ICB) went into effect. The ICB model is a detailed and comprehensive model for classifying companies, in financial activity sectors, facilitating company comparisons, and was adopted by Athens Exchange on January 2nd The ICB model includes four classification levels, which are used to compare companies, and consists of 10 industries, 18 super sectors, 39 sectors and 104 sub-sectors. More than 150 businessmen from northern Greece responded to the call of Athens Exchange Chairman Mr. Spyros Capralos, to the presentation of the ATHEX Alternative Markett organized in Thessaloniki by HELEX and the Thessaloniki Stock Exchange Centre. April Daily average value of transactions: 352,892, Daily average trading volume in equities: 48,551,683 Daily average number of trades in equities: 37,648 The Chairman of the Capital Market Commission Alexis Pilavios and the Chairman of Athens Exchange Spyros Capralos met today with the CEO of FTSE Mark Makepeace in order to discuss the progress that has been made regarding the changes introduced in the Greek market and the issue of its classification, in accordance with the criteria adopted by FTSE. It was agreed that significant progress has been made by the Greek authorities and that the three sides will continue to work in common in the coming months in order to improve on the progress achieved up to now. The Board of Directors of Athens Exchanges approved the listing of Doppler and Euroxx Securities in the Alternative Market (EN.A). Page 4

6 May Daily average value of transactions: 511,887, Daily average trading volume in equities: 62,915,672 Daily average number of trades in equities: 36,978 Euroxx Securities becomes the first brokerage company to list in the Alternative Market of Athens Exchange. A meeting between the managements of ATHEX and CSE took place at Athens Exchange. At the meeting, the managements of the two exchanges discussed various matters of common interest, such as the extension of the ATHEX-CSE Common Platform to the derivatives market. The Minister of Mercantile Marine, The Aegean and Island Policy Mr. Giorgos Voulgarakis and the Chairman of Athens Exchange Mr. Spyros I. Capralos hosted a working lunch for representatives of the shipping industry, the Secretariat of the Hellenic Banking Association, and the Chairman of the Capital Market Commission with the subject Greek shipping at the Athens Exchange. June Daily average value of transactions: 308,513, Daily average trading volume in equities: 38,000,679 Daily average number of trades in equities: 37,218 Entersoft shares startede traded in the Alternative Market of Athens Exchange. Mr. Spyros Capralos, Chairman of Athens Exchange, took the office of President of FESE, following the unanimous vote of the General Meeting of the Federation, which took place today in Stockholm. Mr. Capralos term of office begun on June 18th 2008, for a two year periodo. The Chairman of ATHEX has been an active FESE member, since Mr. Capralos joined the Exchange, and from 2006 until today, he held the post of vice-president of the Federation. Mr. Capralos is the first Chairman of the Greek exchange to participate in the presidency of the Federation. July Daily average value of transactions: 252,191, Daily average trading volume in equities: 34,020,522 Daily average number of trades in equities: 34,050 The 1st Roadshow of Greek listed companies, organized by Athens Exchange, was successfully organized in New York. Athens Exchange informed investors that on its website in the about ATHEX / Regulation section, the New ATHENS EXCHANGE Rulebook, which goes into effect as of July 22nd 2008, is available. The Board of Directors of Athens Exchange (ATHEX) approved UBS Limited, operating out of London, as a remote member in the cash market. August Daily average value of transactions: 184,802, Daily average trading volume in equities: 27,343,095 Daily average number of trades in equities: 24,340 Alpha Trust shares started trading on the Athens Exchange Alternative Market. September Daily average value of transactions: 285,922, Daily average trading volume in equities: 41,363,947 Daily average number of trades in equities: 38,220 The Hellenic Exchanges Group organized the International Capital Markets Conference for Page 5

7 the 5th straight year, on September 11th and 12th, in Porto Carras Chalkidiki. The purpose of the 5th International Capital Markets Conference was to spotlight the investment opportunities that exist in the exchanges of the region. At the initiative of Athens Exchange, an event was organized in the HELEX Group building, during which Ernst & Young presented, to capital market participants, the provisions of the tax law concerning the taxation of dividends and capital gains from the sale of stocks listed on ATHEX. The 5th International Capital Markets Conference organized by the Hellenic Exchanges Group was successfully completed The test version of X-Net was presented. During the Conference, a test version of X- net, providing market data and e-trading services to capital markets of south-eastern Europe and the Mediterranean was presented to ATHEX and CSE members. The 5th International Capital Markets Conference, organized by the Hellenic Exchanges Group, took place at Porto Carras in Chalkidiki on September 11th and 12th. The Board of Directors of Athens Exchange approved the listing of Performance Technologies on the Alternative Market (EN.A). The 15th Central and Southeastern Exchanges Sports Tournament was successfully organized by ATHEX from September 12th to the 14th The 3rd Annual Greek Roadshow was successfully organized by Athens Exchange in London, sponsor by Bloomberg. November Daily average value of transactions: 212,402, Daily average trading volume in equities: 41,845,982 Daily average number of trades in equities: 44,295 The Chairman of Athens Exchange Mr. Spyros Capralos, as head of a delegation of Greek business persons participating in the 10th annual conference organized by Capital Link in New York regarding investment prospects in Greece, rang the closing bell at the end of the trading session of the New York stock Exchange on Friday October 31st. December Daily average value of transactions: 130,923, Daily average trading volume in equities: 37,866,973 Daily average number of trades in equities: 31,506 Optronics started trading in the Alternative Market of the Athens Exchange. October Daily average value of transactions: 307,720, Daily average trading volume in equities: 66,316,342 Daily average number of trades in equities: 58,154 The Board of Directors of Athens Exchange approved the restructuring of its pricing policy for providing data feed products and services for the period. Page 6

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9 2 Operational Background Page 8

10 2 OPERATIONAL BACKGROUND Brief History of ATHEX - Important dates was modified. Law 1806 provided the legal framework for the establishment of the Parallel market and the Central Securities Depository, enlarged the Stock Exchange Board of Directors and modernized the exchange. ASE management is now appointed by the State The type of information that should appear on the Athens Stock Exchange Daily Official List was defined (Ministerial Decision 6281/B). The Books and Records to be kept by the ASE members and their relevant obligations was also defined (Ministerial Decision 6280/B508) Establishment of the Athens Stock Exchange and issuance of the first Stock Exchange Law based on the French Commercial Code. The Stock Exchange began to operate as a self-regulated public institution. The first securities that were traded on that new market were Bonds of the Greek State and shares of National Bank of Greece The first Board of Directors is elected and since then the Athens Stock Exchange operates officially Modification of the existing stock exchange regulation Law 1308 set up the Athens Stock Exchange as a public entity Law 3632 clarified brokers and intermediaries roles and responsibilities Presidential Decree 350/ (embodying Directive 79/279/EC into the Greek law) set forth the basic listing requirements for the main market 1988 New concepts in stock exchange operation and regulation were introduced. The operational model (broker concept abolished, brokerage companies founded) 1990 The Central Securities Depository (CSD) is established as a joint stock company (Law 1892) First Automatic Electronic Trading System (ASIS) abolition of open outcry trading method and gradual introduction of securities in ASIS. CSD becomes operational with the participation of ASE and other market participants 1994 Immobilisation of Securities (System for issuing depository receipts by the CSD). ASE transformed into a Societé Anonyme, with the Greek State as sole shareholder Establishment of Thessaloniki Stock Exchange Centre (Gov. Gaz.5493 / ) intending to organise stock market transactions in Northern Greece - Remote Broking between Athens and Thessaloniki. Page 9

11 2003 Transfer of supervisory responsibilities to the Hellenic Capital Market Commission (HCMC). 3/2005 Merger of ASYK with HELEX Partial privatisation of ASE through private placements 1999 Integrated Automated Trading System (OASIS) along with Dematerialised Securities System (DSS). The Athens Derivatives Exchange (ADEX) and the Athens Derivatives Exchange Clearing House (ADECH) begin operation Merger of CSD and ADECH with HELEX. 3/2000 Hellenic Exchanges (HELEX) is founded as a holding Company. ASE shareholders exchange their shares plus cash as HELEX founder capital. 8/2000 Listing of HELEX shares in the Main Market of ASE. Partial privatisation of HELEX through private placements. 4/2001 Abolition of the ASE trading floor. 1/2002 HELEX subsidiary shareholders exchange their shares with HELEX shares. HELEX controls (almost) 100% of all of its subsidiaries Merger of ASE and ADEX into Athens Exchange (ATHEX) 2003 Privatisation is completed with the transfer of the remaining percentage stake of the Greek State to 7 Greek banks The HELEX Group, in its effort to respond to the challenges, it faces in the new competitive environment of European Capital Markets, as shaped by European regulation such as MiFID and the signed Code of Conduct, is using the relocation of its departments to the new office building as an opportunity to upgrade the quality and productivity of its services, which serve the smooth operation of its exchange markets. The new address of the Company is: 108, Athinon Ave, Athens GREECE. 2.2 Organisational Athens Exchange S.A. The Athens Exchange (ATHEX) is the only official market for shares, rights GDR s, derivative products and bonds trading in Greece, both for the private and institutional investors. It provides the regulatory framework, for conducting transactions, for Page 10

12 dissemination of information related to its listed companies and market participants to the investment public. The Athens Exchange mainly offers the issuer companies the possibility to raise capital and satisfy investors demand for securities Board of Directors of the Athens Exchange The Board of Directors (BoD) of the Athens Exchange is composed of 7 members appointed for a three-year period. It is responsible for all issues regarding the administration of the exchange, the management of its property and the pursuit of its objectives. It represents the exchange judicially and extra-judicially, and supervises the proper performance of the exchange s operations. The BoD provides authorisation to brokerage firms to trade on the ATHEX grants them membership to the exchange and monitors the proper application of the stock market regulation Chairman of the Athens Exchange The Chairman of the ATHEX is elected by the General Meeting of the shareholders. The Chairman is entitled, inter alia, to impose trading suspensions, if investors interests are at risk, to secure the smooth operation of the market and to grant permission in case of block trades of specific high volumes. On 25/10/2004, the ATHEX Board of Directors, elected Mr. Spyros Capralos, as Chairman and Member of the Board. In June 2008, Mr. Spyros Capralos was elected President of the Federation of the Federation of European Securities Exchanges (FESE) for a two year term. In February 2009 he was elected President of the Hellenic Olympic Committee Supervisory Body The Hellenic Capital Market Commission (HCMC) that is an independent decisionmaking body, in the form of a Public Law Legal Entity operating under the supervision of the Ministry of National Economy. Its main objective is to promote the establishment of sound conditions for the operation of the capital market and to enhance public confidence both in the quality of supervision and market behaviour. In order to achieve this objective the Commission sets the general terms and conditions governing the organisation and operation of the capital market and issues instructions on compliance procedures. It also introduces the measures that are useful for ensuring the proper functioning of the market. The legislative framework of the Greek capital market is fully harmonised with the guidelines and directives of the European Union. Page 11

13 2.2.3 ATHEX Members Eligibility - Profile Brokerage firms and credit institutions - which have obtained approval from the Board of Directors of the ATHEX, are allowed to trade in the exchange (according to article no 55 and 56 L. 2533/97). All transactions are realised either in cash, or through margin account Common Trading Platform In adittion the ATHEX Board of Directors during the session of 5/4/2006 approved the activation of Members of the Cyprus Stock Exchange (CSE) in the ATHEX arranged within the context of the common platform of operation agreed between the two exchanges. The term "Common Platform" refers to the common technological infrastructure (trading, clearing/settlement & registry systems) and the compatible legal & regulatory framework, which Athens Exchange (ATHEX) and Cyprus Stock Exchange (CSE) decided to implement and adopt to support the operation of their securities markets. It also includes all the daily activities needed to assure the effective and efficient operation of the two markets in the new environment. The implementation of the Common Platform aims to: establish a homogeneous, effective and efficient environment for trading, clearing/settlement and registry services in the ATHEX and CSE securities markets, compliant to the standards set by the European Union and the facilitate easier and cost effective access of market participants (members, institutional and private investors, custodian banks, issuers, etc) to the ATHEX and CSE securities markets, reduce exchange operational costs by the exploitation of economies of scale, promote the "Common Platform" initiative as part of a regional cooperation aiming to interconnect exchanges in the South Eastern Europe, Middle East & Africa (SEEMEA) region while keeping their autonomy to the mutual benefit of the participating market (see the related chart and the common trading platform, network) Remote Members The Athens Exchange (ATHEX) Board of Directors was granted access to the companies UBS Ltd, CA CHEUVREUX S.A. as remote members to the ATHEX cash market. UBS Ltd operates from London, and CA CHEUVREUX S.A. operates from Paris. It should also be mentioned that 10 companies from Cyprus participate as remote members in the ATHEX cash market, within the framework of the common trading platform of Athens Exchange and Cyprus Stock Exchange. 2.3 The most important developments in Exchnage Traded Funds The Hellenic Exchanges Group of Companies S.A. holds a leading position in the Greek Capital Market, which continues to expand and strengthen through the development of new markets and the introduction of new products, through its expansion in Southeastern Europe and the promotion of possible cooperation schemes in the European Union. Among the new developments are the launch of Exchange Traded Funds (ETFs) in the Greek Capital market. Page 12

14 Exchange Traded Funds (ETFs) are openended mutual funds, which are issued by Mutual Fund Management Companies are admitted to trading on the Stock Exchange. Just like shares, ETFs can be traded at any time-during open trading hoursby Members-Brokerage Firms. An ETF offers to investors the benefits of a diversified portfolio, i.e. the risks involved are reduced by spreading them across a wide portfolio, while its main investment objective is to reproduce the performance of a specific index Alternative Market The new Alternative Market (the EN.A.) is a Multilateral Trading Facility (MTF) as described in the Markets in Financial Instruments Directive (MiFID). The new non-regulated market of ATHEX does not fall under the obligatory provisions that apply in regulated markets and impose strict admission and ongoing requirements. The EN.A is a market operated by the Athens Exchange (ATHEX), in accordance with the EN.A. Rulebook which is notified to the Hellenic Capital Market Commission (HCMC), which supervises the market in question particularly on issues concerning market abuse, public offers and Prospectus, in cases its issuance, is mandatory. This Alternative Market (EN.A.) is managed by ATHEX as a Multilateral Trading Facility (MTF). Due to the flexibility that governs its operation (reduced listing costs, less stringent corporate governance and listing criteria), EN.A. allows dynamic small and mid-sized companies, with development potential, but which due to their small size cannot fulfill the increased listing and trading requirements, to raise capital and list on the Exchange, thus obtaining easy access to the secondary market and preparing for, if they wish, the transfer to the organized markets of Athens Exchange Over the Counter (OTC) Transactions In order to implement and apply and MiFID directive, and based on feedback received from international institutional investors as well as from custodians active in our market, a proposal was drafted which was implemented in the Dematerialized Securities System (DSS) providing Operators with the ability to enter and settle OTC transactions either Free of Payment (FoP) or with Delivery Versus Payment (DvP), covering all their needs. Following the relevant modifications in the HCMC Dematerialized Securities System Operation regulation and the HELEX Clearing and Settlement Rulebook, this new subsystem was put into operation on Starting on , offexchange lending is supported, while starting on orders for same day settlement can be entered New indices In 2008 ATHEX created new indices with the aim of creating products based on them, as well as to provide tools to investors in order to be able to monitor trends in particular Page 13

15 segments of the market, for which there is increased interest: The new indices are: FTSE/ATHEX Liquid Mid index: Consists of 20 stocks which are chosen based on their liquidity from the FTSE/ATHEX Mid 40 index FTSE/ATHEX-CSE Banking index: Consists of stocks from the banking sector that participate in the FTSE/ATHEX 20, FTSE/Mid 40 and FTSE/CySE 20 indices. ATHEX Mid & Small Cap Price index: Consists of 20 stocks from the ATHEX Middle and Small Capitalization segment which have a minimum free float greater than or equal to 20% and an average capitalization less than 150m. ATHEX Alternative Market Price index: Consists of 10 stocks that are traded on EN.A Remote members The ATHEX - CSE Common Platform paved the way for remote members to become active in Athens Exchange. Already 11 Cypriot brokers are successfully using the infrastructure to transact in ATHEX. The implementation of MiFID resulted in the elimination of the last barriers to the entry of remote members, something that is expected to increase competition, reduce the cost of accessing the Greek market and significantly increase transaction activity. At the end of 2007, Athens Exchange approved as remote members Sociιete Generale S.A., Merrill Lynch International Ltd, while in 2008 the applications of Deutsche Bank AG, UBS Ltd and Cheuvreux S.A. were approved. At the same time, in October 2008, 4 CSE members, which were already remote members in the ATHEX cash market (Argus Stockbrokers Ltd, Atlantic Securities, Mega Equity Securities and Financial Services Public Ltd and Sharelink Securities and Financial Services Ltd), obtained the approval to become remote members in the ATHEX derivatives market Shipping ATHEX is ready to welcome Greek- owned shipping companies which wish to list either through a primary or through a secondary (dual) listing, in its market segments (cash market or Alternative Market EN.A). ATHEX has made a number of changes to the regulatory framework, in order the listing rules for shipping companies to become competitive compared to what is in effect in other markets abroad. With the new Rulebook, ATHEX adopts listing criteria based solely on financial data. These criteria allow any company, regardless of its size, shipping activity, nationality (offshore companies are also allowed), number of ships and flag to list. Furthermore, depending on the size of the company, all three ATHEX markets are available (Large Capitalization, Medium and Small Capitalization, EN.A). The regulatory framework has also been prepared to accommodate secondary listings on ATHEX of companies that have are already been listed on other exchanges Dual Listing In order to facilitate the primary or secondary listing on ATHEX of securities that have been issued abroad by foreign or local issuers, regardless of whether these securities are registered in a foreign depository, HELEX can sign agreements in order to effect direct connections with foreign depositories as well as custodians members of foreign depositories that act as intermediaries between HELEX and foreign depositories. A foreign depository can also operate as a custodian, in order to obtain access to other markets with which it is connected. In particular, it will become possible to effect primary and secondary listing of foreign companies shares in ATHEX and registration of those securities at the Dematerialized Securities System (DSS). Furthermore, DSS operators will be able to, through the Page 14

16 interconnection of depositories, maintain accounts in other depositories on behalf of third parties, in order to facilitate local investors to monitor securities that have been registered in other depositories Changes in the Derivatives Market In 2008 HELEX began the project of reviewing and improving the derivatives market. The goal of this project was, to determine the margin for improvement that exists in order to further develop the market and increase the participation of investors, and following that, to determine/implement the appropriate measures. The expected benefits from this project were: - Increase the competitiveness of the market internationally - Increase client participation from Greece and abroad - Increase liquidity in certain products - Improve internal procedures and reducing costs. The implementation of this project is expected to be completed in 2009, in two phases, based on the importance of the changes being proposed. The proposed changes were along the following lines: - Changes that concern products Improvements in the trading process - Risk management (2nd implementation phase) - Functionality improvements in the central system (2nd implementation phase) - Market development and future actions. The official briefing for the second implementation phase is currently in progress, and the implementation of the proposed changes of the first phase has already begun Link up Capital Markets Since April 2nd 2008, HELEX participates as a founding member in Link Up Capital Markets (Link Up), a new consortium formed by 7 European depositories that is planning to provide cross-border transaction settlement services. The purpose of the new company is the creation and operation of a new central system that will facilitate the provision, by participating depositories, of cross border settlement services, custodian services and safekeeping of foreign securities, thus facilitating cross border transactions and making them cheaper. HELEX will enjoy a number of advantages by participating in this new company, and in particular the provision to its members of the ability to settle cross border transactions and manage the securities portfolios of their clients by exploiting the existing infrastructure that HELEX provides and interconnecting through the Link Up system, with the other participating depositories. The improved interconnectivity of the 8 depositories that are participating in Link Up will provide to members of those depositories a single access point for their clients to all markets that those depositories participate in at a lower cost. This way access is improved and the quality of service of international investors in the Greek market is improved. At the same time the number of services is increased and cost of providing those services provided becomes more attractive to Greek investors that wish to invest in securities traded in foreign Exchanges. The operation of Link Up is expected to begin on March 30th 2009, while the activation of the first links between HELEX with the Link Up depositories will begin in June Structured Products ATHEX is moving ahead with the creation of the environment for the listing, trading and clearing of Structured Products (SPs). SPs are transferable securities which reflect and realize a particular investment strategy with specific risk-return conditions. They have various Page 15

17 financial products as underlying securities and their goal is to satisfy specific investment needs that cannot be covered by existing standardized market products. The two basic categories in which they excel are as investment or leverage products. They are listed for trading on the exchange, just like shares. SPs are one of the fastest growing products of the financial sector. They first appeared at the beginning of the 1980s and they boomed during the 1990s. Since then, they have continued to grow and adapt to market conditions, and respond to specific investor needs. Initially they were a product which was used mainly by large financial entities and institutional investors. The large swings that markets have experience in the last few years resulted in SPs becoming particularly popular among private investors, which were looking for: a way to manage their investments by using predetermined risk-return combinations. a way to cover their investing needs through non-standardized products which are traditionally offered by the markets an opportunity to capitalize on personal views regarding market trends to turn a profit The markets where SPs are particularly popular are (in order of importance): Switzerland, Italy, Spain, Germany, France and the United Kingdom. The first three countries account for approximately half the market Record Date rule In 2008, the regulatory and infrastructure preparation took place, so that starting on Jan 1, 2009, the Greek market could implement the record date rule. In particular, the corporate actions of ATHEX listed securities now take place using the record date (registration date) rule, replacing the trade date (transaction date) rule, given that, with the liberalization of the off-exchange market that took place with the MiFID Directive, changes in shareholder registries must be taken into consideration that are the result not only of exchange transactions, but also of off-exchange transfers. Based on the ATHEX Rulebook, the record date is equal to the clearing date of exchange transactions on the trade date that was in effect up until Based on this rule, even though in effect the list of beneficiaries (shareholder registry) that HELEX makes available to the issuer of corporate actions does not change, the point of reference, based on which that list is determined, changes. Thus, the shareholder registry of a company is now determined based on the date that investors are registered in the Dematerialized Securities System (DSS) (either due to on or offexchange transfers), and not the date that the transaction took place. This change simplifies the support procedures for corporate actions to a large extent, and the Greek market adopts a practice that is accepted internationally Target 2 Securities Target 2 Securities is an initiative by the European Central Bank (ECB), which aims to provide to eurozone Depositories a common platform for the settlement of transaction, together with the common payment platform (Target 2). This platform, which is planned to be operational by mid-2013, will provide unified and homogeneous access to users (depository clients) and will include all exchangeable dematerialized securities (stocks, bonds, options, ETFs, mutual funds etc) of the eurozone, as well as securities from outside the eurozone, provided that the Central Banks in question support this. The long term aim of T2S is the unification and homogenization of the standards, and ultimately the commoditization of settlement Page 16

18 services in the eurozone, along the lines of the American DTCC. As a result, the ECB estimates that it will be possible to reduce cross-border settlement costs by 2bn for Depositories and by 20bn by intermediaries, and the creation of a unified market in the eurozone for post-trading will be facilitated. HELEX follows the T2S proceedings, from the initial presentations in the autumn of 2006, and participates in the work groups created by the ECB in order to determine the operational specifications of T2S based on the needs and requirements of its future users Depositories and their clients. Following the conclusion of the determination of the operational standards (URD) in June 2008, the ECB invited Depositories to send a non-committing declaration of intent concerning their participation in the T2S platform, in order for the Board of Directors of the ECB to decide whether to proceed with the next phase of the project. HELEX has sent the relevant declaration in order to participate in the T2S platform, setting the requirements in order to achieve the participation of the Greek market in T2S with the best possible terms. Following the resolution of the Board of Directors of the ECB to continue the project, HELEX participates in the work groups that have been set up to prepare the technical specifications, works on the participation model taking into consideration current developments (Link-Up) and is preparing for the terms of the MoU agreement that is expected to be signed with the ECB within the first half of alternatives offered to investors active in the two markets has increased. Furthermore, the opening-up of CSE to the international market through ATHEX has led to sharply increased turnover and increased the liquidity and turnover velocity of CSE in 2007, while in 2008 CSE was affected by the conditions that shaped up for capital markets by the credit crisis. Despite all of this, the participation of international institutional investors continues to increase. By the end of 2008, the second full year of operation of the Common Platform, eleven (11) out of the total of fourteen (14) CSE members had been accepted by ATHEX as remote members, while at the same time twelve (12) ATHEX members out of the total of sixty one (61) had been accepted by CSE as remote members, and as such are able to carry out transactions on listed securities of ATHEX and CSE respectively. Furthermore, twenty three (23) members from Greece and Cyprus had subscribed to the ODL service at CSE and, finally, fourteen (14) entities offering custody services are active in the Common Platform. Based on the ATHEX-CSE agreement, the HELEX Group will receive an annual maintenance fee for the Common Platform as well as revenue for the operation of the ODL service and the two markets will share the revenue from cross-border activity. Cross border activity is defined as the transactions that take place by ATHEX members in CSE, and transactions that take place by CSE members at ATHEX respectively ATHEX-CSE Common Platform The start of operation of the Common Platform has benefited both cooperating markets. The cost of operation has been reduced for both exchanges, which now share the maintenance and operation cost of a common trading platform, and the number of investment Page 17

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20 3 Athex Markets Overview Page 19

21 3 ATHEX MARKETS OVERVIEW 3.1 Cash Market Table 3.1 Cash Market Trade Statistics per period (Month-Quarter-Year) Period Average Daily Traded Value (in m) Period Average Daily Traded Volume (m shares) Δ% Δ% Jan ,37% Jan 26,8 52,1 43,8 18,95% Feb ,29% Feb 24,5 35,6 43,7-18,54% Mar ,35% Mar 35,4 47,6 39,5 20,51% Q ,28% Q1 28,7 45,0 42,3 6,38% Apr ,72% Apr 37,4 37,2 0,54% May ,49% May 49,8 41,8 19,14% Jun ,21% Jun 33,1 61,3-46,00% Q ,51% Q2 40,3 47,1-14,44% 1 st Half ,91% 1 st Half 42,6 44,6-4,48% Jul ,17% Jul 27,7 62,6-55,75% Aug ,08% Aug 19,2 47,0-59,15% Sep ,93% Sep 34,1 46,5-26,67% Q ,59% Q3 27,3 52,2-47,70% 9 months ,64% 9 months 37,2 47,2-21,19% Oct ,75% Oct 57,8 48,5 19,18% Nov ,97% Nov 35,9 59,6-39,77% Dec ,92% Dec 34,7 39,2-11,48% Q ,15% Q4 43,1 49,6-13,10% 2 nd Half ,54% 2 nd Half 35,1 50,9-31,04% Year ,30% Year 38,7 47,8-19,04% Page 20

22 Table 3.2 Number of Listed Companies Segment Main Market Parallel Market New Market EAGAK Big Cap Mid & Small Cap Low Disp Surveillance Suspended Total-Organize Market "The ALPHA ETF FTSE ATHEX 20 DOMESTIC EQUITY" has been listed in the ETF trading category since January Table 3.3 Number of Listed Companies in EN.A Segment 2008 Alternative Market 9 Chart 3.1: Evolution of the number of listed companies on ATHEX Page 21

23 Table 3.4 Evolution of ATHEX Market Members and DSS Operators ATHEX Markets members DSS Operators ATHEX remote members Chart 3.2: Evolution of ATHEX Markets members and DSS Operators ATHEX member (local) DSS Operator ATHEX Remote members Table 3.5 ATHEX Market segment capitalisation 31/12/2008 in million Category Capitalisation Big capitalisation category 55, Medium small capitalisation category 6, Low Dispersion and Specific Features 5, Under supervision category Total 68, Table 3.6 ETFs Net assets value 31/12/2008 in thousand Category Net assets value Exchange Traded Funds Total Page 22

24 Chart 3.3: Market Capitalisation 31/12/ ,278 6, Big Cap Med Cap Low Dispersion Under Supervision Chart 3.4: ATHEX Market Segment Capitalisation in bn Page 23

25 Table 3.7: Top stocks by trading value 2008 Position Name of company Value (EUR bn.) 1 NATIONAL BANK OF GREECE S.A HELLENIC TELECOM. ORG ALPHA ΒΑΝΚ S.A PIRAEUS BANK S.A EFG EUROBANK ERGASIAS S.A GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A BANΚ OF CYPRUS PUBLIC COMPANY LTD MARFIN INVESTMENT GROUP HOLDINGS SA MARFIN POPULAR BANK PUBLIC CO LTD PUBLIC POWER CORPORATION SA 3.33 Table 3.8: Top stocks by market capitalisation 31/12/2008 Position Name of company Value (EUR bn.) 1 GREEK ORGANIZATION OF FOOTBALL PROGNOSTICS S.A NATIONAL BANK OF GREECE S.A HELLENIC TELECOM. ORG COCA-COLA Ε.Ε.Ε. S.A EFG EUROBANK ERGASIAS S.A ALPHA ΒΑΝΚ S.A PUBLIC POWER CORPORATION SA MARFIN INVESTMENT GROUP HOLDINGS SA PIRAEUS BANK S.A VIVARTTIA S.A Page 24

26 Table 3.9: Number of Trades 2008 Category in mil. Big capitalisation 7,635 Med Cap 1,238.5 Low Dispersion and Specific Features Under Supervision Category ETFs 2.3 Total 9,418.8 Chart 3.5 Number of Trades 7,635 1, Big Cap Med Cap Low disperssion Under Supervision ETFs Page 25

27 Table 3.10: Volume of Transactions 2008 Category Big capitalisation Med Cap Low Dispersion Under Supervision ETFs Total value( ) 7,995 bn 1,028.8 bn bn bn 3.7 bn 9,536.3 bn Chart 3.6 Volume of Transactions 7,995 1, Big Cap Med Cap Low disperssion Under Supervision ETFs Page 26

28 Table 3.11: Value of Transactions 2008 in million Category Value(Euro) Bonds Big capitalisation category 7, Medium and small capitalisation category 1, Special financial characteristics category Under supervision category Exchange Traded Funds (ETFs) Total 78, Chart 3.7 Value of Transactions ,587 1, Bonds Big Cap Med Cap Low disperssion Under Supervision ETFs Page 27

29 3.2 Derivatives Market Table 3.2 Derivatives Market Statistics per period (Month-Quarter-Year) Period Average Daily Number of Contracts Δ % Jan % Feb % Mar % Q % Apr % May % Jun % Q % Jul % Aug % Sep % Q % 9M % Oct % Nov % Dec % Q % Year % Page 28

30 Table 3.3 ATHEX Derivatives Markets Trading & Clearing Members Trading members Clearing members Chart 3.2: ATHEX Derivatives Markets Trading & Clearing Members Trading members Clearing members Table 3.4 Average Daily Numbers of Contracts in the Derivatives Market Derivatives Products FTSE/ATHEX 20 Index Futures 8,403 11,327 11,116 9,520 9,833 10,273 11,280 FTSE/ATHEX 40 Index Futures 1, Stock Futures 826 1,916 3,485 5,726 9,945 12,308 14,913 FTSE/ATHEX 20 Index Options 4,102 5,538 3,643 2,637 2,520 2,347 1,770 FTSE/ATHEX 40 Index Options Stock Options EUR/USD Future EPSI 50Index Future Stock Repos & Reverse Repos 999 1,688 1,432 2,547 5,277 8,068 9,411 Repurchase Agreement ,716 Average Daily Number of Contracts 15,559 21, ,817 21,562 28,740 35,613 3,931 Page 29

31 Chart 3.3: Average daily number of contracts in the Derivatives Market ( m) 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 15, ,247 20,817 21,562 28,740 35, , Table 3.5 Open Interest in the Derivatives Market Derivatives Products FTSE/ATHEX 20 Index Futures 28,928 21,214 1,690 17,661 14,494 24,837 19,304 Stock Futures 8,143 6,231 32, , , , ,015 FTSE/ATHEX 20 Index Options 68,774 4,257 12,097 10,207 10,535 9,868 5,460 FTSE/ATHEX 40 Index Futures 1, , , FTSE/ATHEX 40 Index Options , Stock Options 0 3,127 1,200 2,004 1,297 10,744 6,272 EUR/USD Future EPSI 50Index Future Stock Repos & Reverse Repos 109, , , , , , ,250 Repurchase Agreement ,308 70,835 84,835 Total 217, , , ,375 1,043,086 1,117,369 Page 30

32 Chart 3.4: Total Open interest in the Derivatives Market for the period ,200,000 1,000, , , , , ,408 56, , , ,37 5 1,043,086 1,117, Page 31

33 Page 32

34 4 Trading Background Page 33

35 4 TRADING BACKGROUND 4.1 Securities Market The Securities Market of the ATHEX is divided into the following trading categories: 1. BIG CAP/Big Capitalisation 2. MID & SMALL CAP/Medium & Small Capitalisation 3. SFC/Special Financial Characteristics 4. Under Supervision 5. Under Suspension 6. Fixed Income Securities The admission for the first time of Transferable Securities of issuers to the Securities Market and their classification into the segments Mid & Small Cap, Big Cap, Exchange-Traded Funds and Structured Financial Products, is carried out subject to fulfilment of the requirements laid down in the aforesaid paragraph depending on the case in question. The detailed analysis of the ATHEX Market categorisation is posted in the ATHEX web site following the link nnid= Fixed Income Securities Bonds and other fixed-income titles are listed in this category. In accordance with 3.1.4, of the ATHEX Regulation, the aforesaid titles are admitted to trading on the Athens Exchange by its relevant decision, provided that the conditions stipulated in Article 6-8, L.3371/2005 are met. 4.3 Shares Trading Trading in ATHEX differs according to the trading classification. Trading in Big Capitalisation segment is conducted electronically through the Automated Exchange Trading System (OASIS) Trading hours are set between 10:15 and 17:20. From 10:15 to a random period from 10:29 to 10:30 the determination of the opening price is taken place with an auction. From the end of the previous phase to 17:00 the continuous trading session takes place. The pre-call face for the calculation of the closing price takes place from 17:00 to a random period from 17:03 to 17:04, and from the end of the previous phase to 17:20 takes place the trading at the closing price. Orders are entered to the system by members exchange representatives. Shares trading in Small & Medium Capitalisation segment is conducted electronically through the Automated Exchange Trading System (OASIS). Trading hours are set between 10:15 and 17:20 interrupted by an intraday auction which takes place from 12:00 to a random period from 13:58 to 14:00. From 10:15 to a random period from 10:28 to 10:30 the determination of the opening price is taken place with an auction. From the end of the previous phase to 17:00 the continuous trading session occurred. At 17:00 the closing price is calculated and from 17:00 to 17:20 the closing price trading takes place. Orders are entered to the system by members exchange representatives. Shares that are classified in Special Financial Characteristics and Under Supervision segment are traded through a call auction from 10:15-12:30, while in a random period from 12:28 to 12:30 the determination of the opening prices takes place. From the end of the previous phase to 13:30, the Continuous Automated Matching Method occurs. The detailed analysis of the ATHEX Market schedule is posted in the ATHEX web site following the link AnnID=61367 Page 34

36 The new algorithm for the calculation of closing price for the stocks that are traded in Big Capitalisation is determined with a closing auction while at the same time a Volatility interrupter may be activated. The above condition concerns only the Big Cap and ETF trading markets. The specific algorithm concerns the trading categories of the Cash market for which applies a Closing auction, as the last trading phase, in combination with a possible activation of a Volatility Interrupter. At this point it should be noted that the parameters concerning the special conditions under which is applied the alternative method of the closing price calculation may vary depending on the different incidents that may take place in the specific trading category. When the Volatility interrupter mechanism is activated for a specific Market / Security and the determination of the closing price derives from a Closing auction, since is not effected by any special conditions, then the closing price will be determined as follows: During the execution of the specific algorithm, the previous procedure is applicable, except of the final step in which: If the special conditions apply then: If the potential Auction price diverges significantly from the Price Tolerance Rule and the potential Auction volume is smaller than a predetermined percentage of the daily traded volume ο (Vmin Rule) or the Market / ATO orders rule applies then: 1. the closing auction will not be completed 2. the closing price will be determined based on an alternative closing algorithm which has been determined in the system based on the trades that have been executed till that moment (more specifically it is taken the weighted average volume of the 30% of the last trades). In this case as last trades are defined the trader till the initiation of the Closing auction before the At the closing price phase. 3. If the two above paragraphs apply, then the orders that had been collected during the pre call phase of the Closing auction are automatically checked by the system and perform trades based on the calculated closing price. 4. Τhe unexecuted orders that were collected during the pre call phase of the Closing auction and in case they have a better price from the calculated closing price will be automatically transferred in the At the Closing (ATC) phase as follows a. The ΑΤΟ (At The Open) and Market order will be automatically cancelled b. The Market orders that are partially executed will be automatically transferred in the ATC phase as limit orders with a limit price equal to the closing price. c. The limit order with a better price than the closing price will be automatically transferred to the ATC phase. Closing price in Small & Medium Capitalisation category is considered the volume weighted average of the last 30% of the trades realised during the session. If no trading has been realised, the start price of the share is considered as the closing price. Referring to the shares that belong to Special Financial Characteristics and Under Surveillance segment, the closing price is determined from 100% of the traded volume. If no trading has been realised during the session, then the start price is considered as the closing price. The closing price of the indices is calculated on the basis of the closing price of the shares Trade execution During the main trading sessions, orders are matched by price (the buy order at the highest price is matched with the sell order at the lowest price) and time (for orders at the same price). The criteria for the execution of a trade are the following: Page 35

37 For sell orders: lower or equal price than the price of the existing opposite buy orders. For buy orders: higher or equal price than the lower price of the existing sell orders. The market orders satisfy the matching criterion in any case, since during their input there are opposite orders. In case that no opposite order exists, so as the matching criterion is fulfilled, then they are cancelled. In case that the matching criterion is fulfilled, then the transaction is executed. The orders, which are entered to the OASIS before the beginning of the main trading session, participate in the definition of the opening price. The criterion for the definition of the opening price is the maximisation of the trading volume, which also determines the best point of equilibrium between demand and supply. Orders are distinguished between buy and sell orders and are ranked by price and time with regard to the buy orders the ranking is descending, i.e. orders at a higher price get a priority, whereas for the sell orders the ranking is ascending, i.e. orders at a lower price get priority. Tick sizes have been set at Euro 0.01 for stock closing prices between Euro and Euro 0.05 for stock closing prices above For fixed income titles, regardless of the title s price, the tick size is determined at EUR Volatility Interrupters in Athens Exchange Volatility Interrupters were first introduced in OASIS-ETS, the Equities Trading System of ATHEX, on the 16th of July 2007 for all shares belonging to the Big Capitalization trading market Volatility Interrupters during Continuous Trading In order to define the concept of Volatility Interrupter we must first define the concepts of the Static Price range and the Dynamic Price range. Static price range: The Static Price range is calculated individually for each security and defines the maximum percentage deviation of the potential execution price of a security from the Static Reference price where: The Static reference price is the last price determined in an Auction. Dynamic price range: The Dynamic Price range, is calculated individually for each security and defines the maximum percentage deviation of the potential execution price of a security from the Dynamic Reference price where: The Dynamic reference price is the last traded price. Volatility interrupter Definition: A Volatility Interrupter during continuous trading refers as a halt of trading for a specific security and the automated performance of an auction for this security. It is initiated when the potential execution price for a security lies outside a maximum percentage (2%) from the last traded price (Dynamic price range) or a maximum percentage (10%) from the last auction price (Static price range) Volatility Interrupters during Auctions Volatility interrupters can be initiated during Auctions as well as during Continuous trading. For the shares of the Big Capitalization trading market a volatility interrupter can be initiated during the Opening, Intraday or Closing auction respectively. The initiation of a volatility interrupter during an auction results to an extension of the Pre call phase of the auction for a specific security Page 36

38 when the potential auction price lies outside the Price Tolerance Range (which is defined as a percentage of the Static Price range) or when the potential auction volume exceeds the MKT /ATO order rule. The Price Tolerance Range which is defined as a percentage of the Static price range. If the potential auction price exceeds the Price Tolerance Range then an extension of the Pre call phase of the Auction takes place. The MKT/ATO order RULE which means that the auction volume is due to a big number of market (MKT) and At The Opening (ATO) orders. If the auction volume exceeds this MKT/ ATO order rule then an extension of the Pre call phase of the Auction takes place Order & Price Depth functionality The OASIS provides the Order & Price Depth functionality. A new window has been created in ETW/ORAMA in which users will be able to view the order or price depth for a specific share Average Daily Turnover (ADT) According to AΤΗΕΧ Rulebook ( ), in order to execute a Method 6-1 simple block trade in stocks, the minimum block value is calculated according to ADT as follows: ADT Equal to or greater Less than Minimum block value - 25,000, ,000 25,000,000 50,000, ,000 50,000, ,000 Notice: Simple block trades in fixed income securities may be concluded freely without any restriction concerning their value. 4.4 Derivatives Trading Electronic Trading Trading is effected through the Derivatives Market electronic trading system, by means of members that have direct access to the central marketplace. The system is simple to use and it follows certain ranking and price rules. It allows members, apart from entering orders, to view real-time prices and volumes in the central order book, view orders of trades of member firms and perform real time calculations of sensitivity ratios. The system allows a member to monitor bid / offers, time services of all trades executed, but does not disclose the identity of buyers or sellers. Members have control over which orders are matched. Orders represent a commitment to purchase or sell a specified quantity of a specific series at a stated price. An order driven trading procedure employs the Continuous Automated Matching Method (CAMM) trading method Continuous Automated Matching Method (CAMM) CAMM trading is continuous double action, order-driven trading. Using this method, trades are consummated based upon orders that are entered into the system by its users. Existing but unmatchable orders are ranked and waiting in the order book. Matching takes place when new orders are entered at prices, which are equal or better than the best-priced contract side order in the ranked list. The system supports different order types. The different order types are Single or Combination, Limit or Market, Fill and Kill, and Fill or Kill. Single Order: Bid or ask orders related to a specific future or option series and contain information about volume and premium or price. Page 37

39 Standard Combination Order: A standard combination order is predefined by the Exchange with a maximum of 4 legs. All legs must be based on the same underlying. Non-Standard Combination Order: Order defined by the trader. The non-standard combination order can have a maximum of 10 legs. All legs must be based on the same underlying. Fill and Kill (Immediate or Cancel): If only a part of a fill and kill order is matched, then the remaining volume is cancelled Fill or Kill: The order is immediately executed in its entirety upon receipt against other orders in the main order book. If the entire order cannot be matched immediately then the entire order is cancelled. Any existing order in the central marketplace has a time stamp corresponding to the specific point in time that the order was entered into the system. The existing orders are classified in order of (a) their price and (b) their time of entry into the system and they are always satisfied (matched) according to their rank. No order can be matched with an existing order of lower ranking, unless all existing orders of a higher ranking are previously satisfied. The system has six alternatives concerning the ranking rules of the orders. Derivatives Market can only select one alternative. Changes in order, without loss of its priority in the order book are allowed. The types of changes that do not affect the order are: Reduction of quantity Change of validity time Change of open/close indicator The types of change that do affect the orders priority in the order book are: Increase of order quantity Change of account I.D. This is handled by the system by deleting the existing order and entering a new one with a new order number and new priority. User has the ability to manage an order already placed into the order book. Orders in the order book can be either altered Failed Trades Coverage A failed trade is the non- realisation of securities transfer ownership from investor A to investor B, on a predetermined date (T+3), after a sales transaction carried out to investor B. In order to facilitate its members in resolving the problems occurred when trades are not settled properly, ATHEX decided the introduction of a new stock lending product in the Derivatives Market of the ATHEX (Special Type Repurchase Agreement or STRAS). With this product, each member can now borrow shares to cover its delivery obligations that stem from a failed trade in the underlying market. At the same time, the current buy-in procedures, used for the same purposes, are revised in a way that solves problems occurred in the market when a right or dividend was cut off, during the time that lapsed from the trade date until the day of its final settlement Coverage of Failed Trades with the new adjustments Failed trades that concern sales for which securities have not been delivered might be covered either via the lending product SEET (STRAs) or via the buy-in procedures called "Spot 1" from 10:30 until 17:20 or "Spot 2" from 10:15 until 10:30. HELEX is the main organisation responsible for the clearing and settlement of Athens Stock Exchange transactions in the Dematerialised Securities System (DSS). In DSS all dematerialised securities are recorded in book-entry form and transfers are monitored via the investors Shares and Securities Accounts that are observed in DSS. Page 38

40 Participants in the clearing and settlement procedure are the Operators of DSS, i.e., the Members of ATHEX and the Banks that provide custodian services. On T+3, in time intervals determined by the HELEX, the settlement cycles are carried out. During this stage the HELEX transfers the securities from the Securities Accounts of the sellers to the Securities Accounts of the buyers- investors and simultaneously executes the equivalent debits and credits of the Operators cash accounts in the cash settlement bank. More specifically: a. Announcement by the Operators of the Investor Securities Account in relation to the specific trade on the ATHEX. b. Execution of multiple settlement cycles Securities Settlement Cash Settlement c. Return of transferred transactions from Custodians to brokerage firms at 13:30. d. Broker s transfer of settlement obligations and claims for trades to the Custodian Bank for settlement from 13:30 until 16:00. e. Return of transferred transactions from Custodians to brokerage firms at 16: Market Holidays 2008 Tuesday January New Year s Day Monday 10 February Ash Monday Friday 21 March Good Friday (Orthodox & Catholic) Monday 24 March Easter Monday (Orthodox & Catholic) Tuesday 25 March National Holiday Friday 25 April Good Friday Monday 28 April Easter Monday Thursday 1 May Labour day Monday 16 May Whit Monday Friday 15 August Assumption Day Tuesday 28 October National Holiday Thursday 28 October National Holiday Wednesday 26 Christmas Next Day December 2009 Thursday 1 January New Year's Day Tuesday 6 January Epiphany Monday 2 March Ash Monday Wednesday 25 March National Holiday Good Friday Friday 10 April (Catholic) Easter Monday Monday 13 April (Catholic) Friday 17 April Good Friday Monday 20 April Easter Monday Friday 1 May Labour Day Monday 8 June Whit Monday Wednesday 28 October National Holiday Thursday 24 December Christmas Eve Friday 25 December Christmas New Year's Eve Thursday 31 December (half trading day) 4.5 Trading on the EN.A All transactions on the EN.A are defined as stock exchange transactions and thus their trading will be concluded in the same way transactions are carried out in organized markets. Specifically, the Automated Trading System (OASIS) of ATHEX as well as the Clearing & Settlement system of CSD will be used and the Regulation for the Dematerialised Securities System (DSS) and Clearing will be applied. Trading Method: Shares are traded with the Continuous method for one (1) hour, with prices fluctuating between +/-10% and +/- 20%. In addition, closing prices are calculated with the weighted average of 30% of the last trades method. However, shares traded on the EN.A. cannot be used in stock lending and short selling transactions. The Electronic Book-Building Service is available and the existence of a Market Maker is not obligatory. In case one is needed, the Page 39

41 model for assessing Market Makers in the Securities Market of ATHEX is implemented. Moreover, regarding the ranking of companies by sector the existing ICB FTSE/Dow Jones model is used, regarding the ranking of companies. In case of simple block trades in Alternative Market the minimum block value cannot be less than E.T.F s Trading Model Exchange Traded Funds (ETFs) are mutual fund units which are issued by Mutual Fund Management Companies - AEDAK (issuers). Specifically, ETFs a) Track the performance of a stock exchange index (underlying index) with main investment purpose the reproduction of its performance, b) are traded and cleared on Secondary Market level (stock exchange) just like shares and c) comprise an investment tool through which the risks involved are spread across a diversified portfolio. The creation/ redemption of ETF units is carried out through a contribution in kind (the underlying index s component stocks) or cash. Trading in the ETFs segment is conducted electronically through the Automated Exchange Trading System (OASIS), similar to the trading model of the Big Cap segment. Trading hours are set between 10:15 and 17:20. Specifically, from 10:15 to 10:30 a Call Auction (at opening) is carried out where to a random period from 10:29 to 10:30 opening prices are determined. From the end of the previous phase, i.e. from 10:30 to 17:00 the Continuous Automated Matching (CAM) trading method takes place. The precall face for the calculation of the closing price takes place from 17:00 to a random period from 17:03 to 17:04, and from the end of the previous phase to 17:20 takes place the trading at the closing price. Pursuant to (Resumption of trading of ETF units, which are Under Suspension Status ) of the ATHEX Rulebook, for the resumption of trading of ETFs, which have been placed under suspension for a period greater than six months, the ETF issuer must submit to the ATHEX a relevant application which concerns the total number of the above units, proving adequately the reasons which justify the lifting of suspension of trading. In the event the ATHEX Board of Directors approves the request for resumption of trading then, the start of trading of ETF units is carried out within five working days from the date the ATHEX Board of Directors granted its approval for the resumption of trading of the said ETF units. The ATHEX may depend the approval of the request for the resumption of trading of ETF units on any special term, which -at its own discretion- is required in order to protect investors interests or the smooth operation of the market and which announces to the ETF Issuer, taking into consideration the reason on the basis of which the trading of ETF units was put under suspension. The starting price for the resumption of trading of ETF units is the net value of the unit of the previous day. In case of simple block trades in ETFs the minimum block value cannot be less than Trading commissions Commissions were deregulated in 1995 and are now set freely by the trading parties Fees To ATHEX: 0.015% on the daily transaction value, 0.010% in pre-agreed transactions, 0.001% for fixed income securities & 0.06 euro per order (first 300 orders are exempted) Page 40

42 To HELEX: Stock exchange transfer of Shares, GDR, shares and preference rights 0.025% on the daily transaction value for each party (buyer-seller), over- the - counter securities transfers 0.4% on the transfer value for each party (buyer-seller), 0.15% tax on behalf of the Greek State on the transaction liable to the seller (Regulation HCMC 1/215/ ). Bonds (To ATHEX): % on the daily transaction value, 0.06 euro per order entry (Regulation HCMC 1/215/ ). Bonds (To HELEX): % on the daily transaction value for each party (buyerseller), 0.015% on the transfer value for each party (buyer-seller). Page 41

43 Page 42

44 5 Indices Page 43

45 5 ATHENS EXCHANGE INDICES Indices are used to record trends of both the market as a whole and the different sectors in which listed companies are classified. Athens Exchange (ATHEX) calculates a number of indices with the aim to provide a reliable point of reference for tracking market performance. Stock indices are also utilised for the development of derivatives products traded in the Derivatives Market of the Athens Exchange. Some indices are calculated and managed by ATHEX while others are calculated and audited in conjunction with international organisations such as FTSE International. Furthermore, international organisations, like MSCI and Dow Jones, both maintain indices focusing on the Greek stock market and include Greek shares in their regional indices. Composition of the indices is normally reviewed every six months and their subsequent scheduled or unscheduled reviews, is regulated by an appropriate. 5.1 Indices calculated and managed by ATHEX The indices maintained by ATHEX in 2008 were the following: The Composite Price Index The All-Share Price Index The Composite Total Return Index The High Velocity Index (calculation ceased until next review on 1/12/2008 due to lack of constituents) The indices were managed according to Ground Rules based on internationally accepted standards and practices. ATHEX indices are market capitalisation weighted indices. Dividends are taken into account for the calculation of Total Return index. With the exception of the All-Share Price Index, they are calculated in real time every 30 seconds Eligibility Criteria i. Only one category of ordinary shares of each listed company of the ATHEX is eligible for inclusion in the various ATHEX indices, provided that all the other eligibility criteria are fulfilled. Convertible preferred shares and bonds are ineligible for participation in indices, until they are converted. ii. In case where the total of a category of shares or part of a shares category of a listed company is not introduced for trading on the Athex, the specific unlisted shares are not included in the selection process of shares that will constitute the composition of various indices. iii. Convertible preferred shares and bonds are ineligible for participation in indices, until they are converted. iv. In the Athex Composite Index and Athex Total Return Index only shares that trade within the Big Cap category of the Athex are eligible for participation. v. Eligible for participation in both Athex Composite Index are those shares with Page 44

46 minimum free float greater than or equal to (>=) 20% of their shares in issue. vi. Eligible for participation in the Athex Composite Index and Athex Total Return Index are only the shares that do not appear in the Athex High Velocity Index. vii. Shares participating in various indices should have a presence of at least six months in the Securities Market of the ATHEX. viii. There is an exception to the abovementioned deadline for inclusion into the ATHEX Composite Index if securities have a minimum trading record of 30 working days since the commencement of official nonconditional trading and ranked above the twentieth (20th) place of the eligible securities ranking. In this case the share s six-month presence in the Securities Market of the ATHEX is not required. ix. The shares of companies on which no transactions were realised for at least half of the trading sessions of the ATHEX in the period in question, are excluded from their participation in an Index. x. Eligible securities for participation in the All Shares Index are (the aforementioned criteria i-viii do not apply) all classes of shares (ordinary, preferred, convertible preferred shares, etc except convertible bonds) that are traded in the Securities Market of the ATHEX and the Big Cap, Middle & Small Cap categories regardless from their Trading Method (ATHEX Board of Directors Decision No.18). Eligible securities for participation in the High Velocity Index are those that fulfil the above Criteria i- ix and in addition: xi. The shares of investment companies are excluded from participation in the Index. xii. The shares of companies with a weighted velocity, which does not exceed 200%, are ineligible for participation in the Index The ATHEX Composite Share Price Index It comprises the 60 shares of the Big Capitalisation with the highest market capitalisation and reflects the general trend of the stock market. The aim of the ATHEX Composite Index was the introduction of a reliable measure for tracking trends of listed companies stocks that are traded within the Big Cap category. Amongst the main criteria used to determine the participating shares are average capitalisation and traded value (excluding block trades). The index was launched on December 1980 with a starting value of 100 points. As far as sectors are concerned, the ATHEX Board of Directors has decided to adopt the internationally known FTSE Dow Jones Industry Classification Benchmark (ICB) The ATHEX All-Share Index It includes all shares (both common and preferred) traded in ATHEX. The aim of the ATHEX All-Share Index was the introduction of a reliable measure for tracking trends of all the stocks of companies that are listed and traded in the Securities Market of the ATHEX; It was launched in January 1988, with a starting value of 100 points and is calculated once a day, after the trading session has ended The ATHEX Composite Total Return Index The aim of the ATHEX Composite Total Return Index was the introduction of a reliable measure for tracking the performance of the Page 45

47 ATHEX Composite Index, taking into consideration the reinvestment of the constituents dividends. The index was launched in March 2001 with a starting value of 3.110,59 points The ATHEX High Velocity Index The aim of this index is to capture the trend of shares that exhibit high liquidity on a daily basis. It comprises the shares with ratio of traded value (excluding block trades) over free-float adjusted market capitalisation greater of 200%. The index was launched in May 2003 with a starting value of points. 5.2 Indices calculated in conjunction with FTSE International Ltd. ATHEX and FTSE International have been cooperating for a long time in the calculation of indices for the Greek stock market. The cooperation started with the blue-chips segment of the market and was gradually expanded to cover smaller companies as well. All indices are free-float market capitalisation weighted indices. The FTSE/ATHEX Index Series comprises the FTSE/ATHEX 20, FTSE/ATHEX Mid 40 & FTSE/ATHEX SmallCap 80 Indices, which have been designed to provide real time measures of the Athens Stock Market on which index-linked derivatives can be traded, the FTSE/ATHEX 140, which is a benchmark index representing the performance of all Greek stocks, and the FTSE/ATHEX International Index, which is the benchmark index representing the Big Cap segment of ATHEX. Supersector indices are also calculated based upon the FTSE/ATHEX 140 Index. In order for shares to be included in the indices they have to fulfil certain liquidity criteria. The periodic review of constituents of the FTSE/ATHEX Indices is conducted by an Advisory Committee which meets on a semiannually basis in the last week of April and October (or as soon as practicable thereafter) to review the constituents of the indices. The constituent reviews are based on data collected as at the end of March and September. Constituent changes are implemented after the close of business after the last trading day in May and November respectively Criteria of Eligible Securities A. All FTSE/ATHEX Indices i. All classes of ordinary shares in issue are eligible for inclusion in the indices subject to conforming with Rules i to xii as well as all related investability screens as these have been depicted in the relevant index ground rules in force. ii. Where a company lists multiple lines of equity capital, only the primary class of share (as defined by relative market capitalisation) will be eligible for inclusion in the indices. iii. Where a company s shares are issued partly, or nil, paid and the call dates are already determined and known, the market price will, for the purposes of calculating its market capitalisation, be adjusted so as to include all such calls (i.e. the fully paid price). iv. Convertible preference shares and loan stocks are ineligible. v. Companies whose business is only that of holding equity and other investments will be excluded. Exchange Traded Funds (ETFs) and funds whose prices are a direct Page 46

48 derivation of underlying holdings will be excluded. vi. The Advisory Committee must be satisfied that an accurate and reliable price is available for the purposes of determining the market value of a company. vii. Those securities that are traded by Call Auction or are transferred to Call Auction trading are not eligible for inclusion in either index. viii. Securities must be traded on a continuous basis throughout the full ATHEX trading day. B. Eligible Securities FTSE/ATHEX 20, 40, 80 & 140 INDICES ix. Shares must be listed on the Athens Exchange. Where a company does not list all its shares in an eligible class, or does not list an entire class, these unlisted shares are not eligible. x. A company must pay the majority of its total corporate tax bill in Greece to be eligible. Any other company shall be ineligible. C. Eligible Securities FTSE/ATHEX INTERNATIONAL INDEX xi. Shares must be trading on the Common Trading Platform of the Athens Exchange. Where a company does not list all its shares in an eligible class, or does not list an entire class, these unlisted shares are not eligible. xii. Shares must meet the ATHEX eligibility requirements for the Big Cap segment FTSE / ATHEX 20 Index FTSE / ATHEX 20 is the large cap index, capturing the 20 largest blue chip companies within the Big Cap segment of the Athens Market, as agreed by the FTSE/ATHEX Indices Advisory Committee. The index was designed by ATHEX in collaboration with FTSE International and was first calculated in September 1997 (starting value: 1.000). The index is managed by an independent advisory committee, which was established by ATHEX, FTSE International and by domestic and foreign representatives of institutional investors. ATHEX is responsible for the daily calculation of the index whereas FTSE International is responsible for index auditing FTSE / ATHEX Mid 40 Index The FTSE / ATHEX Mid 40 Index, is the mid cap index and captures the performance of the next 40 companies within the Big cap segment of the Athens Market, as agreed by the FTSE/ATHEX Indices Advisory Committee. ATHEX has the responsibility of the daily calculation, which in turn is audited by FTSE International. It was launched in December 1999 with a starting value of points FTSE / ATHEX Small Cap 80 Index The FTSE / ATHEX Small Cap 80 Index is the small cap index and captures the performance of the largest 80 companies within the Mid/Small cap segment of the Athens Market, as agreed by the FTSE/ATHEX Indices Advisory Committee. It was launched in May 2001 with a starting value of points FTSE / ATHEX 140 Index The FTSE / ATHEX 140 Index is the benchmark index and captures the performance of all eligible companies within the Big Cap segment of the Athens Market, plus the constituents of the FTSE/ATHEX Small Cap 80 Indices. The FTSE / ATHEX 140 Page 47

49 index was launched in January 2002 with a starting value of 2,000 points FTSE / ATHEX International The FTSE / ATHEX International index was launched in January 2006 with a starting value of 5,000 points. The FTSE / ATHEX International Index is comprised of all shares that are traded on the common trading platform of the ATHEX and are eligible for the participation in the Big Cap category and fulfil the liquidity and dispersion criteria that are provided for in the Ground Rules of the FTSE/ATHEX Indices. 5.3 Indices calculated in cooperation with FTSE International Ltd and other exchanges. The FTSE / Med 100 Index was launched by FTSE International, ATHEX, Cyprus Stock Exchange and Tel-Aviv Stock Exchange to serve as a benchmark for the trend of the stock markets in S.E. Mediterranean FTSE / Med 100 Index FTSE Med-100 Index is designed to monitor the price trend of the shares of the largest listed companies of the Eastern Mediterranean stock markets and started its operation in June FTSE Med 100 includes shares of more than one stock exchange and like other ATHEX indices is calculated in real time. The markets that currently participate in the new index are those of Greece, Cyprus and Israel. A future goal is to expand the number of markets of the broader area of Eastern Mediterranean that participate in the index. 5.3 Sector Classification Reviews The ATHEX Board of Directors has decided to adopt the internationally known FTSE Dow Jones Industry Classification Benchmark (ICB). The ICB model was developed by the companies FTSE Group and Dow Jones Indices. It is a detailed and brief tool used for the ranking of companies in various sectors of economic activity and facilitates the comparison of companies via four ranking levels. More specifically, the ICB model includes four ranking levels and is comprised of 10 categories (Industries), 18 super-sectors, 39 sectors and 104 sub-sectors. 40,000 companies are ranked according to this model on an international scale. The financial activity of a company is determined from its revenue sources or from any other source which generates most of its revenues. In addition, the model in question allows for ranking companies according to the use of the final product or its production process. However, the main source of information for the ranking of companies is their latest financial statements. The ranking of companies is carried out on a quarterly basis and in particular in the month that precedes the starting month of each new calendar quarter, i.e. February, May, August and November, in accordance with the Ground Rules of the ICB model set by the companies FTSE Group and Dow Jones Indices. It is noted that companies can appeal to the above-mentioned companies in the event they question their ranking. The companies objections are carefully reviewed by the competent companies quarterly. Thus, following the ranking of companies into sectors according to the ICB Model, the following Sector Indices have been developed: Page 48

50 FTSE/ATHEX OIL & GAS FTSE/ATHEX CHEMICALS FTSE/ATHEX BASIC RESOURCES FTSE/ATHEX CONSTRUCTION & MATERIALS FTSE/ATHEX INDUSTRIAL GOODS & SERVICES FTSE/ATHEX FOOD & BEVERAGE FTSE/ATHEX PERSONAL & HOUSEHOLD PRODUCTS FTSE/ATHEX HEALTH CARE FTSE/ATHEX RETAIL FTSE/ATHEX MEDIA FTSE/ATHEX TRAVEL & LEISURE FTSE/ATHEX TELECOMMUNICATIONS FTSE/ATHEX UTILITIES FTSE/ATHEX BANKS FTSE/ATHEX INSURANCE FTSE/ATHEX FINANCIAL SERVICES FTSE/ATHEX TECHNOLOGY It is reminded that: -Constituents of the FTSE/ATHEX-140 Index are eligible to participate in the Sector Indices. -As from , the opening price of all Sector Indices is 5,000 units. 5.4 Indices on Greek shares calculated by international organisations Dow Jones Greece Stock Index The index was put in force in October 1997 and is calculated by Dow Jones Co. The index is reviewed regularly MSCI Greece Index MSCI Greece is calculated by Morgan Stanley Capital International. The shares are, generally, selected from all shares available in the market. The selected shares should have high liquidity and sufficient dispersion. The index is reviewed quarterly. 5.5 Indices which include Greek shares, calculated by international organisations Many international financial organisations maintain indices including shares from broader geographical regions. Some Greek shares are included in these regional indices. The following section summarizes some of these indices Dow Jones EURO STOXX Small The Dow Jones EURO STOXX Small is designed to provide representation of small capitalisation shares of the Eurozone. The index is based on free-float market capitalisation and was launched in December 1991 with a starting value of Dow Jones Euro STOXX Banks Index The goal of this index is to represent the largest Eurozone bank shares. The index is based on free-float market capitalisation and was launched in December 1991 with a starting value of FTSEurofirst 300 FTSE Eurofirst 300 includes the 300 largest European companies by full market capitalisation. The FTSEurofirst 300 Index was launched in September S&P Europe 350 The S&P Europe 350 covers 17 European exchanges. The criteria for stock selection are Page 49

51 liquidity and market capitalisation. The S&P Europe 350 was introduced in MSCI Indices Greek shares are listed in many MSCI indices like MSCI World Index, and MSCI Europe Index. Both liquidity and market capitalisation are taken into account in order to select shares to participate in the indices Bloomberg European 500 Index The Bloomberg European 500 Index is a capitalisation weighted index of the 500 most highly capitalised European companies. The index was developed in December 1996 with a starting value of Indices calculated in conjunction with other financial institutions ATHEX and Eurobank bank cooperated to create an index that would include the 50 largest, by market capitalisation, companies of the private sector listed on ATHEX. The outcome of this cooperation was the EPSI-50 index Eurobank MidCap Private Sector 50 Index The Eurobank MidCap Private Sector 50 Index consists of 50 medium capitalisation companies listed in ATHEX. In order for these companies to be eligible to be included in the index, they should not be directly or indirectly characterized as companies of the public or financial sector. Its calculation started in September 2004 with a starting price of points. The index is reviewed periodically by Eurobank but is calculated and audited by ATHEX. A future traded in the derivatives segment of ATHEX market is also available for this index. Calculation ceased on 1/4/ New Indices In 2008 ATHEX created new indices with the aim of creating products based on them, as well as to provide tools to investors in order to be able to monitor trends in particular segments of the market, for which there is increased interest. The new indices are: FTSE/ATHEX Liquid Mid Index, FTES/ATHEX- CSE Banking index, ATHEX Mid & Small Cap Price index and ATHEX Alternative Market Price Index FTSE/ATHEX Liquid Mid Index The FTSE/ATHEX Liquid Mid Index provides market participants with access to the most liquid stocks taken from the FTSE/ATHEX Mid 40 constituents according to clean trade value. This focus, offers a lower cost of trading for investors wishing to gain exposure to the mid-cap segment of the Athens Exchange. Athens Exchange plans to launch derivative products and ETFs based on this new index. The new index was designed by the ATHEX in cooperation with FTSE Int l and was put into force in November It is supervised by an independent advisory committee, whose members are comprised of ATHEX and FTSE Int l Ltd as well representatives of local and foreign institutional investors. The aforesaid committee reviews the said Index in two semi-annual meetings; the ATHEX is responsible for its daily calculation and FTSE Int l Ltd. for its checking in real time. Page 50

52 5.7.2 FTSE/ATHEX-CSE Banking Index The FTSE/ATHEX captures the performance of the entire banking sector of the Athens and Cyprus stock exchanges. All the securities of the FTSE/ATHEX 20, FTSE/ATHEX Mid 40 and FTSE/CySE 20 Index which are classified as «Banks» according to the Industry Classification Benchmark (ICB) are eligible for inclusion in the Index. For the Cypriot securities that the dual listing prices i.e. both in the ATHEX and the Cyprus exchange, the Cypriot market will be used in the calculation of the index. The Index has been designed to form the basis for financial products that would allow investors to trade the banking sector in a single transaction. Athens Exchange plans to launch derivative products based on this new index. The index was designed by the ATHEX in cooperation with FTSE Int l and was put into force in November It is supervised by an independent advisory committee, whose members are comprised of ATHEX and FTSE Int l Ltd as well representatives of local and foreign institutional investors. The aforesaid committee reviews the said Index in two semi-annual meetings; the ATHEX is responsible for its daily calculation and FTSE Int l Ltd. for its checking in real time. new index started on 1/12/2008 at 5,000 units ATHEX Alternative Market Price Index The Athens Exchange (ATHEX) announces that from February 16, 2009 started the calculation the new «Alternative Market Price Index» with starting price 5,000 units. The purpose of the new Index is to become a reliable means of tracking the performance of the stocks traded in the «Alternative Market» of the ATHEX, taking into consideration that interest in this new market will increase, as the number of stocks traded increases. The new Index calculated daily, in real time, and review twice a year, every October and April, according to the Ground Rules for the Management of the ATHEX Index Series ATHEX Mid & Small Cap Price index The index provides real time measure for the shares of the companies with market cap less than 150 mil Euros from the Mid & Small Cap segment of the Athens Exchange, with the highest rank according to average market cap and clean trade value and with minimum free float greater than or equal to (>=) 20% of their shares in issue. The calculation of the Page 51

53 Page 52

54 6 Statistics Page 53

55 6 STATISTICS ATHEΝS EXCHANGE RECORD HIGHS 2008 Item Period Record High Date/Period Shares Trading ATHEX trading value Day 3,036,293, May 15, 2008 Month 11,656,593, Jan 2008 Monthly daily average 47,192, Jan 2008 Quarter 26,145,978, First Quarter 2008 Quarterly daily average 435,766,305,63 First Quarter 2008 ATHEX volume Day 243,443,988 Oct 27, 2008 Month 121,579,960 Oct 2008 Monthly daily average 5,906,719 Oct 2008 Quarter 257,590,465 Fourth Quarter 2008 Quarterly daily average 50,903, Fist Quarter 2008 Day 92,346 Oct 24, 2008 ATHEX trades Month 1,279,391 Oct 2008 Monthly daily average 5,180 Oct 2008 Quarter 2,826,910 First Quarter 2008 Quarterly daily average 44,871 Fourth Quarter Day 4,842, Sept 19, 2008 ETFs Trading ETFs trading Month 12,719, October 2008 Monthly daily average 19, Sept 19, 2008 ETFs volume Day 362,070 October 17, 2008 Month 85,507 October 2008 Monthly daily average 117,621 July 30, 2008 ETFs trades Day 108 October 10, 2008 Month 427 October 2008 Monthly daily average 117,621 July 30, 2008 Indices Performance ATHEX Price ATHEX Composite Index Daily close 1, December 31, 2008 Indices FTSE/ATHEX Banks 1, December 31, 2008 FTSE/ATHEX Insurance 1, December 31, 2008 FTSE/ATHEX Financial Services 4, December 31, 2008 FTSE/ATHEX Industrial Goods & Services 2, December 31, 2008 FTSE/ATHEX Retail 3, December 31, 2008 FTSE/ATHEX Personal & Household Goods 2, December 31, 2008 FTSE/ATHEX Food & Beverage Page 54 10, December 31, 2008

56 ATHEX Price Indices Daily close FTSE/ATHEX Basic Resources 2, December 31, 2008 FTSE/ATHEX Construction & Materials 2, December 31, 2008 FTSE/ATHEX Oil & Gas 2, December 31, 2008 FTSE/ATHEX Chemicals 7, December 31, 2008 FTSE/ATHEX Media 3, December 31, 2008 FTSE/ATHEX Travel & Leisure 3, December 31, 2008 FTSE/ATHEX Technology 4, December 31, 2008 FTSE/ATHEX Telecommunications 3, December 31, 2008 FTSE/ATHEX Utilities 3, December 31, 2008 FTSE/ATHEX 20 FTSE/ATHEX Liquid Mid Index , December 31, 2008 December 31, 2008 FTSE/ATHEX Health Care 4, December 31, 2008 FTSE/ATHEX Mid 40 ATHEX Mid & SmallCap Price Index FTSE/ATHEX-CSE Banking Index 1, , , December 31, 2008 December 31, 2008 December 31, 2008 December 31, 2008 FTSE/ATHEX SmallCap FTSE/ATHEX International 2, December 31, 2008 FTSE/ATHEX 140 2, December 31, 2008 FTSE/Athex 20 Total Return 1, December 31, 2008 FTSE/ATHEX Liquid Mid Total Return Index 1, December 31, 2008 FTSE/Athex Mid 40 Total Return 2, December 31, 2008 FTSE/ATHEX-CSE Banking Total Return Index 1, December 31, 2008 FTSE/Athex International Total Return 2, December 31, 2008 Total Return of ATHEX Composite Index 2, December 31, 2008 Page 55

57 7,000 Chart 6.1 ATHEX COMPOSITE SHARE PRICE INDEX Year-End Values (Base Year 1980) 6,000 5,000 4,000 3,000 2,000 1, /93 8/93 3/94 10/94 5/95 12/95 7/96 2/97 9/97 5/98 12/98 7/99 2/00 9/00 4/01 11/01 6/02 1/03 9/03 4/04 11/04 6/05 1/06 8/06 3/07 10/07 5/08 12/08 Chart 6.2: ATHEX COMPOSITE SHARE PRICE INDEX 2008 Monthly Figures 5,100 4,800 4,500 4,200 3,900 3,600 3,300 3,000 2,700 2,400 High Low Close 2,100 1,800 1,500 Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Page 56

58 Table 6.1: ATHEX Composite Share Price Index (YEAR-END VALUES) YEAR ATHEX Composite % CHANGE Share Price Index % % % % % % % % % % , % , % , % , % , % , % , % , % , % % % % Table 6.2: 2008 ATHEX Composite Share Price Index (MONTH-END VALUES) MONTH HIGH DAY LOW DAY CLOSE % CHANGE FROM PREVIOUS MONTH January 5, , , % February 4, , , % March 4, , , % April 4, , , % May 4, , , % June 4, , , % July 3, , , % August 3, , , % September 3, , , % October 2, , , % November 2, , , % December 1, , , % Page 57

59 Table 6.3: 2008 ATHEX Composite Share Price Index Constituents (YEAR - END VALUES) Constituent Name Items Close Price (Euro) Market Capitalisation (Euro) % Participation in Index Cap MOTOR OIL (CR) 110,782, ,381, HELLENIC PETROLEUM (CR) 305,635, ,650,429, ELVAL SA. (CB) 124,100, ,967, MYTILINEOS HOLDINGS (CR) 116,984, ,257, HALKOR SA (CB) 101,279, ,959, SIDENOR (CR) 96,129, ,614, CORINTH PIPEWORKS SA (CR) 124,170, ,269, S & B IND. MINERALS (CR) 31,010, ,085, TITAN CEMENT (CR) 76,963, ,069,794, J & P - AVAX SA (CR) 77,654, ,276, ΕΛELLAKTOR (CR) 177,001, ,565, MICHANIKI SA (CR) 66,937, ,373, VIOHALCO (CB) 199,474, ,833, METKA (CR) 51,950, ,912, FRIGOGLASS SA (CR) 40,200, ,682, ΟΛΘ (ΚΟ) - TPA SA (CR) 10,080, ,590, COCA - COLA HBC (CR) 365,402, ,800,181, NIREFS SA (CR) 63,459, ,171, F.G. EUROPE S.A. (CR) 52,800, ,688, FOURLIS (CR) 50,952, ,764, JUMBO (ΚΟ) - JUMBO SA (CR) 121,234, ,158, FOLLI - FOLLIE SA (CR) 32,946, ,091, GR. SARANTIS SA (CR) 38,350, ,607, ATHENS MEDICAL CENTER SA (CR) 86,735, ,083, HYGEIA SA (CR) 125,630, ,698, ALAPIS (CR) 980,600, ,524, LAVIPHARM SA (CR) 51,081, ,799, AB VASILOPOULOS SA (CR) 12,732, ,137, SPRIDER STORES (CR) 78,787, ,666, ELECTRONIKI ATHINON SA (CR) 17,250, ,750, SFAKIANAKIS SA (CR) 39,572, ,192, KATHIMERINI SA (CR) 17,000, ,000, DOL SA (CR) 83,000, ,300, Α AEGEAN AIRLINES (CR) 71,417, ,823, INTRALOT (CR) 158,942, ,826, OPAP (CR) 319,000, ,596,920, ANEK LINES SA (CR) 157,360, ,035, MINOAN LINES SA (CR) 70,926, ,770, AUTOHELLAS SA (CR) 36,360, ,359, OTE (CR) 490,150, ,832,789, PPC (CR) 232,000, ,677,280, THESSALONIKA WATER & SEWERAGE 36,300, ,090, Page 58

60 Table 6.3: 2008 ATHEX Composite Share Price Index Constituents (YEAR - END VALUES) Constituent Name Items Close Price (Euro) Market Capitalisation (Euro) % Participation in Index Cap EYDAP S.A. (CR) 106,500, ,930, ALPHA ΒΑΝΚ (CR) 410,976, ,753,543, NATIONAL BANK (CR) 496,654, ,555,836, EUROBANK EFG (CR) 527,591, ,007,270, BANK OF CYPRUS (CR) 586,661, ,566,386, PIRAEUS BANK (CR) 329,543, ,109,078, BABIS VOVOS SA (CR) 33,930, ,012, GEK (CR) 65,463, ,647, LAMDA DEVELOPMENT SA (CR) 44,029, ,806, SCIENS INTL HOLDINGS SA (CR) 163,054, ,960, EUROBANK PROPERTIES REIC (CR) 61,000, ,380, HELLENIC EXCHANGES (CR) 70,485, ,719, MARFIN INVESTMENT GROUP (CR) 747,205, ,166,896, Info-Quest SA (CR) 48,705, ,368, SINGULARLOGIC (ΚΟ) - SINGULARLOGIC (CR) 43,524, ,224, Forthnet (CR) 155,431, ,356, PLAISIO COMPUTERS SA (CR) 22,080, ,856, INTRACOM HOLDINGS (CR) 133,026, ,108, Chart 6.3: FTSE ATHEX 20 INDEX Year End Values (Base Year 1997) 3,100 2,600 2,100 ` 1,600 1, /97 06/98 03/99 12/99 09/00 06/01 03/02 12/02 09/03 06/04 03/05 12/05 09/06 06/07 03/08 12/08 Page 59

61 Chart 6.4: FTSE ATHEX 20 INDEX 2008 Monthly Figures 2,800 2,550 2,300 2,050 1,800 1,550 1,300 High Low Close 1, Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Table 6.4: ATHENS EXCHANGE FTSE ATHEX 20 INDEX (YEAR-END VALUES) YEAR INDEX CLOSING PRICES % CHANGE , % , % , % , % % , % , % , % , % , % % Table 6.5: 2008 ATHENS EXCHANGE FTSE ATHEX 20 INDEX MONTH HIGH DAY LOW DAY CLOSE % CHANGE FROM PREVIOUS MONTH January 2, , , % February 2, , , % March 2, , , % April 2, , , % May 2, , , % June 2, , , % July 1, , , % August 1, , , % September 1, , , % October 1, , % November 1, % December % Page 60

62 Chart 6.5: FTSE ATHEX LIQUID MID INDEX Year End Values 2008 (Base Year 28/11/ 2008) 6,000 5,000 4,000 3,000 2,000 1, /07 12/07 01/08 02/08 03/08 04/08 05/08 06/08 07/08 08/08 09/08 10/08 11/08 12/08 Chart 6.6: FTSE ATHEX LIQUID MID INDEX 2008 Monthly Figures 6,200 5,700 5,200 4,700 4,200 3,700 3,200 2,700 2,200 High Low Close 1,700 1,200 Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Page 61

63 Table 6.6: ATHENS EXCHANGE FTSE ATHEX LIQUID MID INDEX (YEAR-END VALUES) YEAR INDEX CLOSING PRICES % CHANGE , Table 6.7: 2008 ATHENS EXCHANGE FTSE ATHEX LIQUID MID INDEX MONTH HIGH DAY LOW DAY CLOSE % CHANGE FROM PREVIOUS MONTH October 2, , ,000 - November 2, , , % December 1, , , % 12,000 Chart 6.7: FTSE ATHEX 40 INDEX Year End Values (Base Year 1997) 10,000 8,000 6,000 4,000 2, /99 06/00 12/00 06/01 12/01 06/02 1 2/02 0 6/0 3 12/03 0 6/0 4 12/04 06/05 12 /05 06/06 12/06 06 /07 12/07 06/08 12/08 Page 62

64 Chart 6.8: FTSE ATHEX 40 INDEX Year End Values 2008 Monthly Figures 6,200 5,700 5,200 4,700 4,200 3,700 3,200 2,700 2,200 High Low Close 1,700 1,200 Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Table 6.8: ATHENS EXCHANGE FTSE ATHEX MID 40 INDEX (YEAR-END VALUES) YEAR INDEX CLOSING PRICES % CHANGE , % % % , %* , % , % , % , % , % Table 6.9: 2008 ATHENS EXCHANGE FTSE ATHEX MID 40 INDEX Month HIGH DAY LOW DAY CLOSE % CHANGE FROM PREVIOUS MONTH January 6, , % February 5, , % March 4, , % April 5, , % May 5, , % June 5, , % July 4, , % August 4, , % September 3, , % Page 63

65 October 3, , % November 2, , % December 2, , % Chart 6.9: FTSE ATHEX SMALL CAP 80 Year End Values 2008 (Base Year 2001) /0 1 01/ 02 09/ 02 05/03 0 1/0 4 09/ / 05 01/06 09/06 05/ /0 8 09/08 Chart 6.10: FTSE ATHEX SMALL CAP 80 INDEX 2008 Monthly Figures 1,100 1, High Low Close Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Page 64

66 Table 6.10: ATHENS EXCHANGE FTSE ATHEX SMALL CAP 80 INDEX (YEAR-END VALUES) YEAR INDEX CLOSING PRICES % CHANGE May , % % % % % % , % , % Table 6.11: 2008 ATHENS EXCHANGE FTSE ATHEX SMALL CAP 80 INDEX MONTH HIGH DAY LOW DAY CLOSE % CHANGE January 1, % February % March % April % May % June % July % August % September % October % November % December % Page 65

67 Chart 6.11: FTSE ATHEX 140 Year End Values 2008 (Base Year 2001) /02 0 5/03 1 0/03 0 3/04 0 8/04 12/04 05/05 1 0/05 0 3/06 0 8/06 1 2/06 0 5/07 1 0/07 03/08 08/08 12/08 Chart 6.12: FTSE ATHEX 140 INDEX 2008 Annual Figures 6,500 6,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500 High Low Close 2,000 1,500 Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Page 66

68 Table 6.12: ATHENS EXCHANGE FTSE ATHEX 140 INDEX (YEAR-END VALUES) YEAR INDEX CLOSING PRICES % CHANGE , , % , % , % , % , % , % Table 6.13: 2008 ATHENS EXCHANGE FTSE ATHEX 140 INDEX MONTH HIGH DAY LOW DAY CLOSE % CHANGE January 6, , , % February 5, , , % March 4, , , % April , % May 5, , , % June 5, , , % July 4, , % August 4, , % September 4, , , % October , , % November , , % December 2, , , % Table 6.14: SHARES MARKET TURNOVER (Closing prices-in million EURO) Year MAIN MARKET PARALLEL MARKET NEW MARKET EAGAK ATHEX TOTAL AVG. DAILY TURNOVER , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , *Total 1 44, , , Page 67

69 YEAR BIG CAP MED SMALL CAP. LOW DISPERSION UNDER SUPERVISION ETF ATHEX TOTAL AV. DAILY TURNO VER 2005 **Total 2 4, , , , , , , , Period 1/1/ /11/2005, ** Period 28/11/ /11/2005 MONTHS BIG CAP MED SMALL CAP. LOW DISPERSION UNDER SUPERVISION ETF ATHEX TOTAL AV. DAILY TURNO VER Jan 10, , Feb 7, , Mar 6, , Apr 6, , May 10, , Jun 5, , Jul 5, , Aug 3, , Sept 6, , Oct 6, , Nov 4, , Dec 2, , Total 75, , , Table 6.15: ATHEX Equities trades in 2008 MONTHS TRADING DAYS MONTHLY DAILY AVG. MONTH'S HIGH DAY MONTH'S LOW DAY January 22 1,178,079 53,549 90, ,786 2 February ,489 37,690 60, , March ,660 44,311 59, ,910 5 April ,960 37,648 55, , May ,547 36,978 48, , June ,362 37,218 54, ,407 5 July ,145 34,050 57, , August ,809 24,340 33, , September ,848 38,220 61, ,721 1 October 22 1,279,391 58,154 92, ,010 3 November ,903 44,295 70, , December ,616 31,506 43, , Page 68

70 Table 6.16: Equity trading volume in 2008 MONTHS TRADING DAYS MONTHLY DAILY AVG MONTH'S HIGH DAY MONTH'S LOW DAY January 22 1,312,789, ,672, ,186, ,454, February ,845, ,518, ,682, ,073, March ,577, ,117,163 87,897, ,189,016 5 April ,033, ,107, ,292, ,167, May 20 1,321,229, ,915, ,307, ,333, June ,013, ,191,123 60,966, ,922, July ,472, ,566,910 55,866, ,723,406 7 August ,861, ,857,359 52,258, ,717,538 4 September ,006, ,500,341 70,156, ,160,587 1 October 22 1,458,959, ,433, ,443, ,863,868 9 November ,919, ,041,802 80,498, ,330, December ,206, ,852, ,426, ,282, Chart 6.13: 2008 Average Daily Shares Turnover (in million Euro) Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Page 69

71 Chart 6.14: SHARES TURNOVER (in million Euro) 160, , , ,000 80,000 60,000 Big Cap Med/Small Cap Special Under Supervision ETFs Main Parallel NEHA EAGAK ,000 20, Chart 6.15: SHARES MARKET CAPITALISATION closing prices (in million Euro) 200, , , , , , ,000 80,000 EAGAK Med/Small Cap Special Big Cap Main Market Parallel Market New Market Under Supervision 160, , , ,000 80,000 60,000 60,000 40,000 40,000 20,000 20, Page 70

72 Table 6.17: The largest companies based on market capitalisation(end 2008) COMPANIES SECTOR CAPITALISATION IN EURO 1GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A. Travel & Leisure 6,596,920, % OF TOTAL SHARES CAP NAT. BANK OF GREECE SA Banks 6,555,836, HELLENIC TELECOM. ORG. Telecommunications 5,832,789, COCA-COLA Ε.Ε.Ε. S.A. Food & Beverage 3,800,181, EFG EUROBANK ERGASIAS SA. Banks 3,007,270, ALPHA ΒΑΝΚ S.A. Banks 2,753,543, PUBLIC POWER CORPORATION SA Utilities 2,677,280, MARFIN INVESTMENT GROUP HOLDINGS SA Financial Services 2,166,896, PIRAEUS BANK S.A. Banks 2,109,078, VIVARTIA S.A. Food & Beverage 2,039,468, HELLENIC PETROLEUM S.A. Oil & Gas 1,650,429, MARFIN POPULAR BANK PUBLIC CO LTD Banks 1,602,142, BANK OF CYPRUS PUBLIC COMPANY LTD Banks 1,578,119, MARFIN POPULAR BANK PUBLIC CO LTD Banks 1,577,239, BANΚ OF CYPRUS PUBLIC COMPANY LTD Banks 1,566,386, AGRICULTURAL BANK OF GREECE S.A. Banks 1,267,622, TITAN CEMENT COMPANY S.A. Construction & Materials 1,143,667, MOTOR OIL (HELLAS) CORINTH REFINERIES SA Oil & Gas 846,381, VIOHALKO S.A. Industrial Goods & Services 821,833, TT HELLENIC POSTBANK S.A. Banks 793,660, BANK OF GREECE Banks 767,181, ELLAKTOR S.A. Construction & Materials 757,565, EMPORIKI BANK OF GREECE S.A. Banks 754,631, HERACLES GENERAL CEMENT COMPANY S.A. Construction & Materials 584,299, ATHENS WATER SUPPLY & SEWAGE Co. Utilities 555,930, MARFIN EGNATIA BANK Banks 545,936, ALAPIS S.A Health Care 529,524, JUMBO S.A. Personal & Household Goods 526,158, ATTICA HOLDINGS S.A. Travel & Leisure 487,532, INTRALOT S.A. Travel & Leisure 476,826, MYTILINEOS HOLDINGS S.A. Basic Resources 463,257, LAMPSA HOTEL CO. Travel & Leisure 423,861, Table 6.18: EQUITY ISSUES (in million EURO) YEAR FROM ALREADY LISTED COMPANIES FROM NEW LISTINGS TOTAL ,33 60,98 296, ,08 289,71 771, ,11 69,99 259, ,97 336,55 441, ,17 50, ,91 Page 71

73 ,27 479, , ,41 806, , , , , , , , ,03 101, , ,75 121, , ,97 104,57 482, ,10 81, , , ,31 4, , ,40 10, Table 6.19: NEW LISTINGS ON THE ATHEX YEAR MAIN MARKET PARALLEL MARKET NEW MARKET EAGAK ATHEX TOTAL YEAR BIG CAP MED/SMALL CAP SPECIAL UNDER SUPERVISION ATHEX TOTAL Table 6.20: Number of ETFs listed on ATHEX 31/12/2008 Asset Management Company ETFs Underlying index NAV (mil ) 31/12/2008 ALPHA ASSET MANAGEMENT 1 FTSE/EX * Net asset value Page 72

74 Chart 6.16: ETFs Net assets value 161, , , ,500 81,500 61,500 41,500 21,500 1,500 Jan Feb Mar Apr May June July Aug S ept Oct Nov D ec Table 6.21: CAPITAL RAISED BY NEW LISTINGS 2008 COMPANY NAME SEGMENT / BIG CAPITALISATION SECTOR CAPITAL RAISED (in thousand ) 1 PASAL REAL ESTATE DEVELOPMENT S.A. Real Estate Holding & Development 23,377,420 TOTAL 23,377,420 Table 6.22 NEW COMPANIES IN THE ATHEX ALTERNATIVE MARKET YEAR NUMBER OF COMPANIES Page 73

75 Table 6.23: CAPITAL RAISED BY NEW LISTINGS IN THE ATHEX ALTERNATIVE MARKET 2008 COMPANY NAME SECTOR CAPITAL RAISED (thouand ) EPSILON NET S.A. Computer Services 1,680,000 MEDITERRA S.A. Food Retailers & Wholesalers 2.114,600 ENVITEC S.A. Waste & Disposal Services -- DOPPLER S.A. Industrial Machinery -- EUROXX SECURITIES S.A. Investment Services 1,419,550 ENTERSOFT S.A. Software 922,320 ALPHA TRUST INVESTMENT SERVICES S.A. Asset Management 1,477,552 PERFORMANCE TECHNOLOGIES S.A. Computer Services -- OPTRONICS TECHNOLOGIES S.A. Equipment Telecommunications 1,000,500 Total of Alternative Market 8,614,522 Table 6.24: 2008 BONDS TURNOVER (in thousand EURO) YEAR PUBLIC BONDS CORPORATE BONDS FOREIGN BONDS AΤΗΕΧ TOTAL DAILY TURNOVER , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , Page 74

76 Chart 6.17: BONDS TURNOVER (in million EURO) Public Corporate Table 6.25: BONDS - MARKET CAPITALISATION (closing prices in million EURO) YEAR PUBLIC BONDS CORPORATE BONDS FOREIGN BONDS TOTAL BONDS ,14 388, , ,98 408,23 319, , ,84 458,26 720, , ,84 458,26 720, , ,73 399,72 754, , ,27 210,27 558, , ,86 188,08 445, , ,58 59,99 225, , ,12 396,54 80, , ,29 472, , ,19 941, , , , , , , , , , , , , , Page 75

77 Chart 6.18: BONDS - MARKET CAPITALISATION closing prices (million EURO) 200, ,000 Public Bonds Corporate Bonds Foreign Bonds 160, , , ,000 80,000 60,000 40,000 20, Table 6.26: BOND ISSUES (in million EURO) YEAR PUBLIC CORPORATE FOREIGN TOTAL ,59 5, , ,80-124, , ,70 7,10 308, , ,58 302,82 283, , ,17 26,49 80, , , , , , , , ,32 45, , ,60 79, , ,66 59, , ,92 17, , , , , , ,497, , , , Page 76

78 Chart 6.19: BOND ISSUES (in million EURO) Public Corporate Foreign Chart 6.20 Aggregate Share Ownership structure in ATHEX, as at 31/12/2008 1,08% 47,85% 51,07% I. Greek investors II.Foreign Investors III. Other Not Identified Page 77

79 Chart 6.21 Share Ownership structure in ATHEX, as at 31/12/ % 21.09% 32.41% 8.30% 15.00% 21.67% 0.45% Greek private investors Greek legal entities Greek institutional investors Foreign private investors Foreign legal entities Foreign institutional investors Other investors Chart 6.22: Share trading structure in ATHEX, as at 31/12/ % 20.75% 2.45% 14.42% 51.73% 1.30% 8.44% Greek private investors Greek legal entities Greek institutional investors Foreign private investors Foreign legal entities Foreign institutional investors Other investors Page 78

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81 7 Clearing & Settlement of Cash & Derivatives Market Page 80

82 7 HELEX CLEARING & SETTLEMENT OF CASH & DERIVATIVES MARKETS 7.1 Dematerialised Securities System (DSS) The clearing and settlement procedure was originally carried out by the Central Securities Depository S.A (CSD) until 27 November 2006, where the merger of CSD with Hellenic Exchanges took place. CSD was established on February 1991 by Greek L. 1806/1988, Article 33A and as a Societe Anonyme under L. 1892/1990. The Capital Market Commission, the Division for Credit and Public Economics, Department of Stock Exchanges of the Ministry of National Economy and the Ministry of Development regulated CSD. The settlement of the Athens Stock Exchange transactions concerned equities, corporate debt, and administration of the Dematerialised Securities System (DSS). Hellenic Exchanges (HELEX) is now the organization responsible for the clearing and settlement of the Athens Exchange transactions and administration of the Dematerialized Securities System (DSS). In DSS all dematerialized securities are recorded and transfers are monitored through the Investors Shares and Securities Accounts kept in DSS. Participants in the clearing and settlement procedure are the Operators of DSS - the Members of ATHEX and the Custodian banks. 7.2 Clearing Procedure On trade date T, following the closing of the trading day, ATHEX informs electronically the administration of clearing, settlement and registration with the trade file of the day. The file is downloaded to DSS where securities and values of trades (buys or sales) are added up per investor, per broker, per security and type of trade and the weighted average value of the trade is calculated by dividing the total value of trades over the quantity of securities (trade averaging). In case that the clearing and settlement of the trade is taken over by a Custodian bank participating as Operator in the DSS, the broker that executed the trade gives-up the clearing and settlement of the trade to the Custodian bank. Thus, the Custodian assumes all obligations and claims of the broker with regard to the settlement process. The trade give-up of a specific buy/sale is done after the finalization of trade and before the announcement of the Operator's Account. The trade give-up should be done within T+1 till 20:00 if the trade is settled on T+3 and within T+1 till 10:30 if the trade is settled on T+1. For the correction of wrong give-ups, in time between 14:00 and 16:30 is allocated on T+2 after the end of the trading session in ATHEX. The broker that gave-up the trade has ultimate responsibility for the settlement if the Custodian bank does not fulfil its obligations. Operators should relate each trade with the Securities Account of the investor who ordered the trade, for the securities to be credited or debited into the account. The announcement should be done a) by the ASE Member before the beginning of the last settlement cycle and b) by the custodian bank within the settlement day till 13:30. * T+1 settlement of bonds * T+3 settlement of securities Page 81

83 7.3 Settlement On T+3, in time intervals determined by HELEX, the settlement cycles are carried out. During this stage the HELEX transfers the securities from the Securities Accounts of the sellers to the Securities Accounts of the buyers-investors and simultaneously executed the equivalent debits and credits of the Operators cash accounts in the cash settlement bank. 7.4 Cash Settlement Clearing of the derivatives transactions taking place in Athens Exchange Derivatives Market is now carried out by the HELEX at an endclient level. From the moment a trade is registered by HELEX, HELEX becomes the counterparty of the buyer and the seller and guarantees to both sides the clearing of traded contracts (central counterparty for the derivatives market). HELEX also calculates all investors' obligations that arise from their participation in the market (market-tomarket), and defines the margins to be deposited by the participants at an end client level. For the performance of these activities, HELEX cooperates with a number of other market participants. 7.6 Over the Counter OTC Following the approval by the Hellenic Capital Markets Commission of the amendments to the Clearing and Settlement Rulebook of HELEX, the new timetable for the settlement of OTC Transactions (DvP/FoP) is as follows: The cash obligations deriving from the buys are netted with the cash claimed for the sales and from the net cash position of the Operator. By T+3 or T+1 Operators must deposit in their cash account, held for this purpose in the cash settlement bank (BANK OF GREECE), the equivalent amount for their cash obligation. * Τ+1 Settlement period for bonds * Τ+3 Settlement period for Securities 7.5 Derivatives Settlement Operating Hours (in Central European Time CET) Timetable for DvP / FoP TRANSACTIONS 08:00 19:00 CET (09:00 20:00 local time) Settlement 08:00 19:00 Instruction CET entry /amendments Cut off time for SD 13:30 CET Settlement Instructions with settlement date SD entry / amendments Matching cycles First: 08:00 CET timetable Last: 18:00 CET. At least 3 intraday cycles in between at regular intervals Settlement cycles First: 08:30 CET timetable Last: 6:00 CET continuous intraday cycles in between at regular intervals * The above timetable is effective from Tuesday 17/06/2008 Page 82

84 Clearing and Settlement Period Trading Day T First Day T+1 Second Day T+2 Settlement Day T+3 Electronic transfer of the ATHEX trade file Broker's transfer of settlement obligations and claims for trades to the Custodian bank (trade give-up) Announcement by the Operator of the Investor Securities Account in relation to the specific trade Announcement by the Operator of the Investor Securities Account in relation to the specific trade Announcement by the Download of the trade file to DSS Operator of the Investor Securities Account in relation to the specific trade Correction of wrongly giveups from 14:00-16:30. Execution of multiple settlement cycles - Securities settlement - Cash settlement Consolidation and finalization of trade data for settlement Return of the transfer of settlement obligation and claims for trades from the custodian banks to brokers at 13:30 Broker's transfer of settlement obligations and claims for trades to the Custodian bank (trade give-up) Broker's transfer of settlement obligations and claims for trades to the Custodian bank (trade give-up) till 20:00 Broker's transfer of settlement obligations and claims for trades to the Custodian bank (trade give-up)from 13:30-16:00 Announcement by the Operator of the Investor Securities Account in relation to the specific trade Return of the transfer of settlement obligation and claims for trades from the custodian banks to brokers at 16:00 Clearing and Settlement Period for bonds Trading Day T First Day T+1 Electronic transfer of the ATHEX trade file Download of the trade file to DSS Consolidation and finalization of trade data for settlement Broker's transfer of settlement obligations and claims for trades to the Custodian bank (trade give-up) Announcement by the Operator of the Investor Securities Account in relation to the specific trade Broker's transfer of settlement obligations and claims for trades to the Custodian bank (trade give-up) till 10:30 Announcement by the Operator of the Investor Securities Account in relation to the specific trade Execution of multiple settlement cycles - Securities settlement- Cash settlement Return of the transfer of settlement obligation and claims for trades from the custodian banks to brokers at 13:30 Return of the transfer of settlement obligation and claims for trades from the custodian banks to brokers at 13:30 16:00 Return of the transfer of settlement obligation and claims for trades from the custodian banks to brokers at 16:00 Page 83

85 7.7 Fees On February 24th 2009 changes in the fees that HELEX collects have taken effect. The current analysis of the Helex Fee is posted in the HELEX web site following the link: content&task=view&id=682&itemid= Special Savings Bonds - Greek Government Bonds In the beginning of 2003, the Special Savings Bonds were offered to investors by the Greek Government. For their disposal, the Dematerialised Securities System (DSS) was selected by the Organisation for the Administration of Government Dept in order to control their distribution to investors, upon criteria defined by the Greek Government, and to monitor their keeping till their maturity, for the exemption of the beneficiaries from taxation on their interest. For this reason, new applications were developed offering the possibility to DSS Operators (Brokerage Firms, Banks/Custodians) to register to DSS data of those investors who participate on the public offering about Special Savings Bonds. DSS Operators will also receive the results of the final distribution of these securities per their investor-client. The above function was extended to the remaining Greek Government debts (treasury bills, bonds), the keeping of which is monitored by the DSS so that beneficiaries profit from tax exemption. transfer of the Greek Government debts from/to the system of the Bank of Greece. The DSS Operators have now the possibility to transfer the securities that their clients wish to trade in ATHEX from the accounts kept in the Bank of Greece, to the DSS Accounts and vice versa. In addition, the clearing of the ATHEX transactions upon Greek Government and corporate debts, reduced from three working days (T+3) to one (T+1) Dividend Payment In case of dividend payments the listed company informs the CSD about the date of the dividend cut-off. For the registered share, CSD sends to the listed company a file countering information on the shareholders that are entitled to the divident, after the settlement of the trades of the defined date. For the owners of bearer shares, CSD prints a relative certificate which the investor receives from his Operator. For bearer shares recorded to the Special Account the investor receives the relative divident certificate by the CSD. Based on these elements the listed company takes care of the divident payments Government Bonds - Trading in ATHEX To support the development of the secondary market of Greek Government debts in ATHEX, a sub-system was developed allowing the Page 84

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88 8 Athens Exchange S.A. Derivatives Market & Trading Page 87

89 8 ATHENS EXCHANGE S.A. DERIVATIVES MARKET TRADING 8.1 General information The Derivatives Market of the Athens Exchange S.A., - initially operating as Athens Derivatives Exchange (ADEX) - and the Athens Derivatives Exchange Clearing House (ADECH) began their operations on August 27, Following the merger of ADEX S.A and ASE S.A in 2002, ADEX became part of Athens Exchange S.A (ΑΤΗΕΧ). Also the merge of companies ADECH S.A and HELEX S.A took place in The role of Derivatives Market of the Athens Exchange is to organise and support trading in the stateof-the-art electronic market. Trading hours for Athens Exchange Derivatives Market products are Monday to Friday, 10:15-17:20 Athens time. 8.2 Technology The Athens Exchange Derivatives Market is a fully electronic, screen-based market. The market is both quote and order driven. The fully electronic trading system, which is integrated with the clearing system, was obtained from OM International Systems and forms the basis for complete, problem-free and cost effective trading. The electronic trading platform of Athens Exchange Derivatives Market, OM Click, is part of the Integrated Automated Electronic Trading System (OASIS). The clearing system is OM Secure, with RI.VA. (Risk Valuation) being used as the margining backbone. The OMNet API is the interface through which Athens Exchange Derivatives Market and HELEX Members may obtain direct access to the market and link to the most popular front- and back-office applications that support this interface. By subscribing to the low cost OMNet API service, Athens Exchange Derivatives Market and HELEX Members may use trading, quote automation, risk management, order routing and STP software which has been developed by a large number of local and international ISVs for the Athens Exchange Derivatives Market. Since 2002, the co-operation of Athens Exchange Derivatives Market with GL Trade provides connectivity to Athens Exchange Derivatives Market via GL Net through the OMNet API service. 8.3 Membership and Client Accounts Interest to acquire Membership to Athens Exchange Derivatives Market and HELEX remained strong among companies from the financial sector throughout At the end of 2008, ATHEX numbered 51 Membercompanies with the capacities of 1) Agent members (agent and proprietary trading) and 2) Market Makers. With respect to HELEX Membership (Clearing function) the number of HELEX Members is 34 (12 General Clearing Members and 22 Direct Clearing Members) at the end of The number of Athens Exchange Derivatives Market investor accounts has been growing rapidly since the start, totalling accounts at end of Summary of the year The organised derivatives market of Athens Exchange Derivatives Market increases the appeal of the Greek capital market and enables investors to increase or reduce their exposure to risk faster, effectively and at a low cost. At the same time, the products of Athens Exchange Derivatives Market offer relatively low margin levels for traders and arbitrageurs to deploy their trading strategies. Page 88

90 Table 8.4: DERIVATIVES MARKET Market activity Derivatives Trading Members Derivatives Clearing Members Direct Clearing Members General Clearing Members Terminals API service Member subscribers Investor accounts Products Year 2008 was another year of growth for the Greek derivatives market. Market indicators and trading statistics marked an increase on 2008 figures. The annual total of futures and options contracts traded reached 9,942,628 contracts, (increased by 10.82%). The most heavily traded contracts were the index futures and options on the FTSE/ATHEX-20, the blue-chip stock index. Average daily traded volume in FTSE/ATHEX-20 index futures amounted at contracts, while for the options contracts based on the same index, the corresponding volume was 1,770 contracts. Open interest, the indicator of long term trading interest in the market, repeatedly broke previous highs throughout the year for many Athens Exchange Derivatives Market products. The total traded value in Athens Exchange Derivatives Market throughout 2008 increased compared to 2008, as a result of higher trading volumes. On the basis of trading value, Athens Exchange Derivatives Market ranked seventh in Europe in index futures and options in The overall liquidity ratio of the derivatives market versus the underlying stock market averaged at 60% in 2008 compared to 54% in The average liquidity ratio of FTSE/ATHEX-20 & FTSE/ATHEX Mid 40 indexes futures and options for the year 2007 stood at 93%, compared to 83% respectively for the previous year Athens Exchange Derivatives Market projects a sustained rate of growth of the derivatives market in terms of trading volumes and market participation. Further developments in the regulatory framework, new solutions for access to the Athens Exchange Derivatives Market through the cooperation with GL Trade, continuing improvements in the operations of the market and the planned launch of new derivative products are anticipated to contribute to this end. Page 89

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92 9 Organisational Environment Page 91

93 9 ORGANISATIONAL ENVIRONMENT 9.1 HELLENIC EXCHANGES S.A. (HELEX) History Hellenic Exchanges S. A. Holding, Clearing, Settlement and Registry (HELEX), the parent company of the Group that operates the Hellenic capital market, was established in March The company was listed on the Athens Exchange in August The subsidiary of the Group, Athens Exchange, has been operating the Greek stock market since 1876, and as such is one of the oldest exchanges in the world. HELEX was fully privatized in 2003; its current shareholders are banks, institutional investors, brokerage firms, companies listed on the exchange, local private investors and international investors. The number of shareholders is 9,547 ( ) Goals The purpose of HELEX is to participate in companies that provide services to organised capital markets. Today HELEX controls, directly or indirectly, 100% of the companies that operate the local cash and derivatives markets: Athens Exchange S.A. In 2007 the Group completed relocation to its new headquarters, an event that resulted to further synergies and cost savings and had positive effect in productivity of the Group. The main strategic growth goals are the following: Improve the efficiency of the Group Strengthen the Group s position through the introduction of new products and new services in order to better serve investors, local and international. Expand the activities of the Group in South-eastern Europe Page 92

94 9.1.3 Management The Board of Directors of Hellenic Exchange is as follows: Board Members Position 1 Iakovos Georganas Chairman, non-executive member 2 Ulysses Kyriakopoulos Vice-Chairman, Independent, nonexecutive member 3 Spyros Capralos Chief Executive Officer, Executive member 4 Avgoustinos Vitzilaios Non-executive member 5 Vasilios Drougas Non-executive member 6 Artemis Theodoridis Non-executive member 7 Antonios Kaminaris Non-executive member 8 Nikolaos Karamouzis Non-executive member 9 Nikolaos Milonas Independent, non-executive member 10 Ioannis Pechlivanidis Non-executive member 11 Nikolaos Chryssochoidis Non-executive member Hellenic Exchanges S.A. (HELEX S.A). HELLENIC EXCHANGES SOCIETE ANONYME HOLDING, CLEARING, SETTLEMENT & REGISTRY is the parent company of the Group that supports the organization and operation of the Greek capital market. The companies of the Group operate the organized securities and derivatives markets, perform the clearing and settlement of transactions, registration of securities, provide turnkey IT solutions to the Greek capital market and promote the development of exchange education in our country. The Company, in accordance with its Articles of Association, has the following purpose: The participation in companies and businesses of any legal form that are active in the support and operation of organized capital markets, as well as the development of activities and provision of services, related to the support and operation of organized capital markets, in companies in which it participates and in third parties that participate in organized capital markets or that support their operation. The provision of support services to the operation of organized markets. The participation of the Company in derivatives contracts concluded in Athens Exchange, the clearing of those transactions or transactions that take place in other markets, the safeguard of the fulfilment on the part of the counterparties with it of the obligations that flow from these transactions and any other relative with the above activity. Page 93

95 9.1.5 HELEX shareholders The shareholder composition of the Company on , broken down by shareholder category, is shown in the table that follows: Shareholder category No of shareholders % Banks 14 18,95% Institutional investors 83 9,95% Brokerage firms 19 0,93% Listed companies 11 1,37% Private investors 8,860 8,54% International investors ,97% Other investors 28 1,03% Treasury stock 1 7,26% Total 9, % The shareholder composition of the Company on , broken down by country of origin, is shown in the following table: Shareholder category No of shareholders % Greece 9, % USA % Netherlands % United Kingdom % France % Luxembourg % Germany % Other % Total 9, % Page 94

96 9.2 THESSALONIKI STOCK EXCHANGE CENTRE The Thessaloniki Stock Exchange Centre (TSEC) has been in operation since 1996 and is a member of the Hellenic Exchanges group SA. The main purposes of the Centre are to: Support HELEX s activities and decentralize the operations of the Greek capital market through the organisation and development of the capital market in Northern Greece and to provide stock brokerage services through the on-line link-up to ATHEX electronic trading system OASIS. Attract dynamic companies from Northern Greece, by offering them the opportunity to raise capital in order to fund their business activities and to become more acknowledgeable to the investment community. Attract dynamic companies from Central South-eastern Europe and East Mediterranean for listing in ATHEX s markets. Support, expand and enrich the investment options for investors located in Northern Greece. Collaborate with exchanges and Securities Commissions of the region of South-eastern Europe and MENA countries for the promotion of bilateral and multilateral cooperation Activities and services offered Attracting companies interested in ATHEX listing T.S.E.C. makes efforts to attract companies headquartered in Northern Greece that comply with the listing requirements of the stock markets operated by ATHEX. Thus, the Centre provides the companies with the ability to raise capital for the financing of their investment plans and the expansion of their activities in Greece and abroad. Activities for attracting investors in the Greek Capital Market The Centre organises a variety of events aiming to inform the investment public and promote the markets of ATHEX. These events include presentation of research and analyses on the market, conferences, and specialized presentations. The Centre organises educational seminars at major cities of Northern Greece concerning the capital market and its products. Also, speeches, presentations, conferences and special events are organised for market specialists. In the Website of the Hellenic Exchanges ( there is a variety of information concerning the company, the ATHEX markets, and statistics for the Greek capital market, presentations, events and seminars. TSEC has established a specialized library offering information regarding the capital market, available to the investment community as well as students. International Consulting Thessaloniki Stock Exchange Centre had undertaken the project management, leading a consortium of companies, of a project funded by the European Union, which aimed to modernize the Egyptian Capital Market Sector. The objectives of the project was to support private sector growth in the Egyptian Economy by introducing international standards and best practices as regards the governance, regulation and operation of the Page 95

97 Egyptian Financial sector, with emphasis given on the enhancement of the capabilities of the Capital Market Authority and the regulation system regarding corporate governance and also to enrich the capabilities on training of the Egyptian Institute of Directors. The Project had duration of 36 months and was concluded on September TSEC participates in the program under the name X-NET for the provision of technical assistance, in the frame of the DAC program, for the electronic interconnection of 6 stock exchanges in the broader SEEMEA region through the development of the X-net network. Regional Cooperation of the Centre with other exchanges and security commissions According to its mission, the Thessaloniki Stock Exchange Centre promotes collaboration, which concisely refers to the transfer of know-how, technology, contemporary regulatory framework, organisation of markets, promotion of common products and markets. It is worth mentioning that the Centre has developed an extensive co-operational network with all the markets of the region, based upon the Memorandums of Understanding that have been signed. Page 96

98 9.2.2 Board of Directors Managing Director: Spyros Capralos Vice-Chairman: Pavlos Lazaridis Members: Christodoulos Antoniadis Dimitris Bakatselos George Pervanas George Milonas Alexandros Haitoglou Trading from Thessaloniki Stock Exchange Centre amounted in 2008 to: Amount in Euro Percentage of TSEC s Trading Activity on the Greek capital market Northern Greece 10,644 billion 6,81% Through OASIS 861 Million 0,55 % 2, Trading Activity of Northern Greece 2007 & , Million 1, , January 07 March 07 May 07 July 07 September 07 November 07 January 08 March 08 May 08 July 08 September 08 November 08 Page 97

99 9.2.3 Trading activity of companies operating on the TSEC (Euro) BROKERAGE COMPANY Investment Bank of Greece 340,85 213,66 HSBC Pantelakis Securities S.A. 259,39 219,69 EFG Eurobank Securities S.A. 157,80 126,62 Pegasus Securities S.A, 120, National Securities Co, S.A,- P & K 97,67 151,58 N, Sarros Securities S.A. 76,28 47,31 Megatrust Olympic Securities S.A. 50,05 29,41 G.A. Pervanas Securities S.A. 22,23 8,36 Contalexis Financial Services S.A. 19,68 8,81 Kyklos Securities S.A. 15,40 6,00 Northern Greece Securities CO S.A. 13,62 7,94 Capital Securities S.A. 7,79 3,27 Proton Bank SA 624 P & K Securities SA*** 194,36 Egnatia Finance SA* 94,45 Acropolis Securities S.A.** 3,47 Note*: *On 22/06/2007 Egnatia Finance S.A. was absorbed by Investment Bank of Greece. ** Acropolis Securities S.A. has ceased operations since 30/03/07. Page 98

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101 10 Investment Page 100

102 10 INVESTMENT 10.1 Mutual funds Collective Investment Schemes (CIS) in Greece are either of the open-end type (Mutual Funds) regulated by Law 3283/2004 or of the closed-end type (Portfolio Investment Companies) regulated by Law 3371/2005. Mutual Funds are regulated by Law 3283/2004 as complemented by various regulatory provisions issued by the Capital Market Commission (texts can be accessed in Greek through the website of the Association of Greek Institutional Investors ( The legal framework is complemented by the Code of Conduct for the Mutual Funds Management Companies and Portfolio Investment Companies enforced by Capital Market Commission Decision No. 1/462/ Its objective is to specify the rules that will govern the relations and the behaviour of the firms and of their representatives, in the practice of their activities, so as to: 1. secure the smooth function of the capital market and support its development 2. ensure that all Funds Management operations are performed, exclusively to the benefit of the investors. The Capital Market Commission ( is the supervisory authority, which grants domestic mutual funds providers the necessary operating license. This license is granted, subject to compliance by the Fund Management Company to a number of rules, which include approval by the Capital Market Commission of the Fund s Regulations and the choice of Depository. The documents that must be submitted, as per Art. 12 of Law 3283/2004, are: A detailed list of the assets of the mutual fund, with a minimum value of 1.2 million A certificate in writing from a bank operating in Greece, accepting the deposits of the assets of the mutual fund and agreeing to its obligations as Depository of the mutual fund The Regulation of the mutual fund signed by the mutual fund management company and by the Custodian. Mutual Funds must comply with a specific classification according to decision 1/317/ of the Capital Market Commission, as amended by HCMC Decisions No. 9/342/ and 4/378/ , so that there is a correspondence between the name of each M/F, the investment objectives mentioned in its regulation, and the composition of its assets. Page 101

103 375 40, No. of Mngt. Co. No.of M/F Assets (mil.euro) 35, , , , , , , Source: Association of Greek Institutional Investors 10.2 Procedure for registration of Foreign Funds in Greece For EU UCITS Funds (i.e. regulated under the Directive 85/611), applications to the Hellenic Capital Market Commission (HCMC), as per Art. 35 of Law 3283/2004, must include the following: Description Certificate by home state Regulators that the particular fund is a UCITS fund, as well as the fund's regulation, the simplified and full prospectus, the latest annual and semi-annual reports, and information on the distribution network that will be used in Greece. The UCITS Fund may use the same name as in its home state unless the HCMC requires, for purposes of clarification, that an explanatory addition must be added to its name, and it may start marketing and selling its units 2 months after the above application has been filed with the HCMC, unless otherwise advised by the HCMC. All necessary documentation for distribution purposes as per its home state regulation must be published in the Greek language, and Greek fund distribution rules must be adhered to as well. Page 102

104 COMPOSITION OF THE MF MARKET IN GREECE 31/12/2008 ( mil.) Funds of Funds, 645, 6.2% Domiciled Abroad, 15, 0.1% Balanced, 1,296, 12.4% Bond, 3,334, 32.0% Equity, 2,607, 25.0% Money Market, 2,523, 24.2% Source: Association of Greek Institutional Investors, An EU non-ucits fund or a non-eu Fund must apply to the HCMC for authorisation, as per Article 36 of Law 3283/2004. The Fund must provide the fund's regulation, the simplified and full prospectus and the latest annual and semi-annual reports. All necessary documentation for distribution purposes as per its home state regulation must be published in the Greek language, and Greek fund distribution rules must be adhered to as well. Page 103

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106 11 Provision of Support Systems to Market Participants Page 105

107 11 PROVISION OF SUPPORT SYSTEMS TO MARKET PARTICIPANTS The distribution of the information in real time (Market Data Feed) to Data vendors is a significant source of income, representing the 4% of the total Hellenic Exchanges group income. In detail, the revenues generated by the Market Data Feed activity increased by 19% in the year 2008, reaching the total of million Euros. The ATHEX real time data feed in real time was transmitted to more than terminals (ATHEX Securities, Derivatives, FTSE/ATHEX Indices), 49% located in Greece and 51% abroad. In total, the ATHEX cooperates with 35 data vendors, 16 of which are located in Greece and 19 abroad. The 18 of the 35 data vendors maintain direct connections to the ATHEX data centres, 11 are connected indirectly (subvendors) and 6 are Media (Internet sites / TV stations). During 2008, the ATHEX prepared a series of significant advancements in its Data Feed technological infrastructure that were launched in February 2009, aiming to the distribution of the following new market data: The distribution of the full order Depth of the ATHEX Securities Market. Back office data such as ATHEX and company announcements, corporate actions, listed companies financial statements etc. OTC transactions executed by ATHEX members, as reported thought the OTC Post Trade Transparency Service. ATHEX ETF and the Alternative Market venue data. During 2008, the new ATHEX Data Feed pricing policy was also announced and put in effect on 1/1/2009. The main objective of the new ATHEX pricing policy is to harmonize and achieve convergence with the pricing policy and best practices applied by its peer group of European Exchanges. These changes aim to enable the ATHEX market data feed customers to offer new information products/services and finally redistribute the ATHEX Data Feed to more end users/investors. The above-mentioned objective will be accomplished by the following measures: 1. Decreasing the price discrepancy between the ATHEX and European Exchanges fee schedules (annually fixed and monthly variable fees). 2. Introducing new Market Data Feed products/services (such as non display data, Full Order Depth, etc), according to the new ATHEX technical specifications announced on 19/9/ Facilitating smooth transition from the current ATHEX Data Feed pricing policy to the new one (having in mind that ATHEX has not increased any fees since year TRS Service Through the Trade Reporting System (TRS), the ATHEX can fulfil the Members obligation to report their transactions in the ATHEX Securities and Derivatives markets to the Hellenic Capital Market Commission. The ATHEX TRS service was launched in 2008, free of charge until 31/12/2008, initiating charges from 1/1/2009. Currently all ATHEX members are utilizing the ATHEX TRS Service. Page 106

108 OTC-PTTS In order to facilitate the ATHEX Members to fulfil their post trade transparency obligations for OTC transactions, the ATHEX has developed the OTC - Post Trade Transparency Service (OTC-PTTS) that is using the existing technical infrastructure installed in the ATHEX Members premises. More specifically, the OTC-PTTS enables the ATHEX Members to publish their OTC trades, in compliance with the MiFID regulation. The OTC information reported via the ATHEX PTTS service is being automatically redistributed to all ATHEX Data Vendors and also it is posted on the ATHEX website. The benefits arising from using the ATHEX PTTS service are the following: Security: It is ensured by using the ATHEX secure trading network Simplicity: Use of the existing infrastructure (ATHEX trading system terminal, Internet Explorer). High Availability: The use of the ATHEX trading network ensures the high availability of the service The broadcast to the investment community is provided by the existing information redistribution network of the ATHEX Data Vendors. The OTC PTTS service became available to ATHEX Members and Data Vendors in 2008, free of charge until 30/06/2009, initiating charges from 1/07/ MarketSuite Products The MarketSuite includes the following software products: MarketOffice System for the organization and support of operations of Securities and Investment Services Companies in the Securities Markets of Greece and abroad. MarketOffice is a modern, integrated system for the organization and support of the overall back Page 107 office operations of Securities and Investment Services Companies MarketOrder System for the gathering, control, dispatch and management of orders and transactions in real time. MarketOrder constitutes an integrated system for the concentration, control, dispatch and management of orders and transactions in real time for both Greek and foreign capital markets. It provides an on-line connection with the ATHEX (Stocks - Bonds, Derivatives), through the use of ODL and OMNet API services respectively, but also with capital markets abroad, through the use of international networks (GLNet) and FIX protocol (FIX 4.2) MarketPosition Integrated system for the support of back office operations of Securities and Investment Services Companies in the Derivatives Market. The system offers the required functionality to companies, which are in a position to monitor the positions and obligations of investors, as well as their own in the Derivatives Market of the ATHEX, in real time MarketVision On-line system that follows up trading activity in the Athens Exchange. MarketVision is the first system established in Greece for the follow-up of Stock Exchange transactions via the Internet. It utilizes the information that are provided from the Securities, Derivatives and Bonds' markets of the Athens Exchange, which are transmitted via a network, private (e.g. a banking network), or Public (e.g. Internet Service Provider), in any geographic point Year 2008 figures The MarketSuite products, provided to 20 corporate customers, ATHEX Members and

109 other, contributed to the HELEX group income a total of 327 thousands Euros. The ATHEX Members contributed to the 80% of the total MarketSuit revenue and the penetration to Members can be described as significant, taking into account the fact that the Members using MarketSuite products are accounted for the 41% of the total ATHEX Market traded value, as of May InBroker Brief overview On November 9, 2007, the ATHEX announced the conclusion of an agreement with the company "Intarget S.A." regarding the acquisition of the exclusive rights of the software application InBroker. Within the framework of the agreement, ATHEX undertook fully the rights and obligations emanating from Intarget's agreements with InBroker customers, as well as the obligation of continuously maintaining and enriching the said application with new functionality, covering new needs for the markets operated or supported by ATHEX. Specifically, as of Monday, 12 November 2007, the sales, operation, maintenance and customer support of InBroker services With the acquisition of InBroker, ATHEX took another step towards the implementation of its business plan as drawn up by Hellenic Exchanges S.A. (HELEX). Furthermore, with this application, the HELEX Group: Adds in the range of products and services already offered to its Members, a product not only designed for the streaming of Stock Exchange information, but also has significant penetration in the particular market. Improves the available baseline software that will be used for the implementation of the X-NET project and strengthens the project team. Specifically, the X-NET project is part of HELEX Group's strategy for initiatives which intend to increase access of international liquidity pools to investment opportunities in the region. In particular, X-NET aims to develop a network that will facilitate access to the electronic systems (trading, information dissemination, clearing & settlement) that serve the operation of interconnected markets in the region of South-Eastern Europe and Mediterranean. Paves the way to further exploit potential business opportunities for the expansion of ancillary services, similar to those of other European Exchanges under the new competitive environment created in the European Capital market, following the implementation of the Markets in Financial Instruments Directive (MiFID) Year 2008 figures The total income generated by the InBroker activity (11 corporate clients) was thousands Euros. The clientele can be distinguished to two main categories: 1. ATHEX Members that generate the 90% of the InBroker income 2. Corporate clients and individual investors that can be attributed for the 10% of the total income. The ATHEX Members using Inbroker account for the 23% of the total ATHEX Market traded value as of May The Fund may use the same name as in its home state unless the HCMC requires, for purposes of clarification, that an explanatory addition must be added to its name. Distribution of units may be subject to additional conditions on a case-by-case basis. Page 108

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111 12 Publications Page 110

112 12 PUBLICATIONS The Athens Exchange (ATHEX), aiming to improve the level of investor s knowledge on stock exchange issues as well as to improve the dissemination of information, provides a comprehensive range of publications that are released in both Greek and English languages, on an annual, monthly or daily basis. ATHEX Monthly Statistical Bulletin ATHEX Daily Official List This is the official daily register of the Athens Exchange trading activity. It contains data of all shares, bonds and derivatives traded on the Athens Exchange. High, low, open and closing daily prices of all shares listed on the ATHEX, as well as the value of daily transactions. Also nominal values, dividends per share, number of trades and percentage price changes. Announcements on share capital increases, initial public offers, changes on equity stakes and other events that may influence share prices. Similar information is supplied for listed bonds. Cost: Free of Charge on the Internet site It contains aggregated monthly data on shares and bonds, consequently providing the complete picture of the monthly activity of the ATHEX. Month closing price of shares and bonds, comparative data of previous months and years, per share monthly value of trading, earnings, Ρ/Ε ratios, dividends and dividend returns, monthly and annual fluctuations, most traded shares, largest companies on the basis of their market value, as well as all changes of share capital that have been realised during the month. Cost: Free of Charge on the Internet site EN.A Monthly Statistical Bulletin The publication contains aggregated monthly data on shares listed in EN.A. High, low, open and closing prices of shares, as well as the value of daily transactions. Page 111

113 In addition nominal values, dividends per share, profits per share, P/E before taxes and P/E after tax, number of trades and percentage price changes, Dividend Yield, Monthly Marketability most active shares by value of transactions volume of transactions and market capitalisation New Issues of shares already listed companies & new company listing the shares in the last five years, data on new listing on the ATHEX in the recent years, raised capital, information on the provisions of share capital increases, data on new issues, as well as information on bonds and interest bearing notes traded on the ATHEX. P/E ratios and yields, stocks with positive yield as well as best and worse performers. Other data incorporated, is the price of the English sovereign and addresses and telephone numbers of companies listed on the ATHEX. Available in CD-Rom Cost: Fact Book It contains information and statistical data on new company listings and new issues of shares of already listed companies. Data are classified per trading category and split into foreign and domestic. More specifically it contains: Issuing and conditions Number of new shares Issue price Nominal value Capital raised by new shares Capital raised by existing shares. ATHEX Annual Statistical Bulletin Fact Book is an informative publication comprising data about the Athens Exchange (ATHEX), the Hellenic Exchanges Group of Companies (HELEX) as well as other capital market participants. Specifically, it refers to: Securities and Bonds Markets, the Electronic Trading System of the ATHEX (OASIS), a statistical analysis of the market, issues pertaining to capital market legislation, a qualitative analysis of investors, procedures and particulars regarding the listing of shares on the ATHEX, trading methods and processes, presentation of the publications and statistical products of the Athens Exchange. Additionally, it includes a complete guide containing a cumulative presentation of data concerning listed companies and Members of the Athens Exchange. The said edition is published in English. It contains annual aggregated statistical data and information in Greek and English. Closing prices of the ATHEX and international stock exchanges indices, data of securities companies, data on the ATHEX indices, average annual market value, annual trading, data on the development of return of Page 112

114 New Issues of shares already listed companies & new company listing It contains information and statistical data on new company listings and new issues of shares of already listed companies in EN.A. Data are classified per trading category and split into foreign and domestic. More specifically it contains: Issuing and conditions Number of new shares Issue price Nominal value Capital raised by new shares Capital raised by existing shares. performance, all derivatives products traded in the Athens Exchange. The statistical data contained in the edition include reports on: Executive summary on previous month key figures, Total traded volume, with history Key figures per product, with history Derivatives to spot market ratios, with history Investors activity, with history Comparison of European Exchanges Derivatives Market trading members market share Last month key events Current month key events ADEX training Unit schedule ADEX services and information AxiaNumbers Newsletter A quarterly informative publication in the form of a magazine, that reports on activities of the ATHEX. Available from Monthly Statistical Bulletin Derivatives Market This is the monthly statistical report that supports, in terms of reporting Axianumbers is an informative - statistical bulletin that is produced in two publications (Greek, English) and contains elements that are recorded in the Central Registry after the Clearing and Settlement of Athex trades. It contains figures that concern: the Mobility of investors (activation via transactions), the attendance of investors in Athex transactions per category of statistical classification, that is to say attribute in profession and country of tax residence, the transactions per Category of Market (Big Capitalisation, Medium and Small Capitalisation) and per Index (FTSE/Athex 20, FTSE/Athex Mid 40, FTSE/Athex Small Cap 80 and FTSE/Athex 140). Also includes figures concerning the attendance of investors in Athex, in Stock Market value and the perspective percentage of portfolios, per category of statistical classification and the attendance per Category of Market (Big Capitalisation, Medium and Small Capitalisation) and per Index (FTSE/Athex 20, Page 113

115 FTSE/Athex Mid 40, FTSE/Athex Small Cap 80 and FTSE/Athex 140). Other Operational Publications offered by ATHEX In addition to the above mentioned publications, Athens Exchange publishes on a normal basis a comprehensive range of informative reports and manuals aiming to fulfil investors, professionals, market participants and the economic press informational needs. These publications are usually available through the ATHEX web site. The range consists of: Ground Rules for the Management and Calculation of the price indices of the ATHEX Shares Market. Updated each time there is a change. Ground Rules for the Management and Calculation of the FTSE/ATHEX index series. Updated each time there is a change in the rules. Average Time Spread and Average Trades Spread for ATHEX shares that are traded under the Large, Medium and Small Capitalisation Categories. Published on a monthly basis. Transaction Value of the ATHEX Members. Published on a monthly basis, contains information on the trading performance of the Athens Exchange members. Page 114

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117 13 Statistical Information Products Page 116

118 13 STATISTICAL INFORMATION PRODUCTS The Athens Exchange (ATHEX) provides a comprehensive range of Statistical Information Products, which can be obtained from the Department of Information Dissemination. three output versions: (Full, Selected and Consolidated data). DERIVATIVES MARKET STATISTICAL INFORMATION PRODUCTS Besides the statistical information products for the Shares Market, investors may now receive historical data for products concerning the Derivatives Market of the ATHEX including data on Index Futures, Index Options, Stock Repos, Reverse Stock Repos and Stock Futures. The Statistical Information products include: SHARES DATA Historical and adjusted closing prices (Opening, upper, lower, closing price). BLOCK TRADING OF SHARES Block trading transactions of shares. INDICES Index prices, Index Composition. DIVIDENDS Historical and adjusted dividends. DATA ON SHARE CAPITAL INCREASES & INITIAL PUBLIC OFFERINGS Terms of share issues. Dates of subscription rights. Starting dates of rights trading. BALANCE SHEETS Balance sheets of all companies listed on the ATHEX. Consolidated balance sheets. Data in three output versions: (Full, Selected and Consolidated Data). FINANCIAL STATEMENTS Financial Statements of all companies listed on the ATHEX. Consolidated statements (trimester, semester and nine-month statements). Data in Page 117

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120 14 Education Page 119

121 14 EDUCATION 14.1 Education & Training Services The Hellenic Exchanges Education & Training Services Department organizes and introduces to the investment community a wide range of educational seminars and tutorials, throughout the year, primarily delivered to market specialists, professionals and the individual investors. The said seminars cover in detail the latest issues concerning the operation of stock markets, the legal and regulatory framework, and market analysis, advanced techniques of portfolio and risk management, new investment products as well as a vast range of corporate matters. Furthermore, it certifies the Traders and Clearers of Stocks and Derivatives Markets that the Athens Exchange operates, through a series of rigorous educational programmes, market simulations and exams covering the main fields of trading and clearing. Throughout the year it qualifies the existing and new remote members of the ATHEX thereby enabling them to operate within the Athens Exchange trading process. More so, the Education & Training Services Dept. stands as the Hellenic Capital Market Commission official examination centre regarding the qualification of market professionals within the field of financial services, namely order execution, portfolio management, analysis, investment consulting and clearing. Another area of main interest regards the training of students from Business Schools and Universities, who are interested in the daily operation of the Stock Exchange, latest current developments within financial industry and the prospects of the Hellenic Stock Markets. Indeed an outstanding number of students visit the Athens Exchange on a weekly basis, and are granted the opportunity to obtain an intricate understanding of the trading of shares, bonds, market operations and performance, the structure of the Capital Market as well as a plethora of business issues, right at the heart of the Greek exchange Industry, namely the Hellenic Exchanges premises. Arguably this enables future professionals to take stock of the market. Hence future professional are in effect prepared to smoothly enter the financial sector thereby Athens Exchange contributes towards the further development of the Stock Market. The Education & Training Services Department maintains a constant contact with the stock market community so as to gauge market needs, facilitate the flow of information and transfer of knowledge and advance the professional skills to the utmost level. All educational seminars and events are held within the premises of Hellenic Exchanges Group located in Athens, making use of state-of-the-art technology, highly experienced instructors, and comprehensive learning material, thereby enhancing the educational process to the benefit of respective trainees. Page 120

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123 15 Listed Firms Page 122

124 15 LISTED FIRMS AEGEK S.A. Foundation Year: 1949 Listing Date: 29/11/1993 Construction company. Under Supervision Construction & Materials Heavy Construction AEGEK - AEGEK (CR) - GRS AEGEP - AEGEK (PR) - GRS AMAROUSIOU - CHALANDRIOU Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) stavrogiannim@aegek.gr AEOLIAN INVESTMENT FUND S.A. Foundation Year: Listing Date: 09/08/1993 Investment portfolio management for Greek and foreign securities, as provided for by law 1969/91. Medium and Small Capitalisation Financial Services Equity Investment Instruments AIOLC - AEOLIAN INVESTMENT FUND (CR) - GRS FIL. ETAIRIAS STR. 14 Postal Code:10673 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) inv.rel@aeolian.gr Page 123

125 AGRICULTURAL BANK OF GREECE S.A. Foundation Year: 1929 Listing Date: 19/01/2001 Banking operations of all types. Big Capitalisation Banks Banks ATE - ATE (CR) - GRS PANEPISTIMIOU Postal Code: ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) metochologio@ate.gr AGROTIKI INSURANCE S.A. Foundation Year: 1980 Listing Date: 25/02/1999 General insurance and reinsurance. Representation of Greek or foreign insurance companies. Medium and Small Capitalisation Insurance Property & Casualty Insurance AGRAS - AGROTIKI INS. SA (CR) - GRS SYNGROU AVE. 163 Postal Code:17121 NEA SMYRNI Telephone: (+30)-(210) Fax: (+30)-(210) stock@agroins.com Page 124

126 AKRITAS S.A. Foundation Year: 1977 Listing Date: 07/04/2000 Production and import/export of wood, wooden furniture and wood products. Medium and Small Capitalisation Construction & Materials Building Materials & Fixtures AKRIT - AKRITAS SA (CR) - GRS S. OIKONOMOY STR 3 Postal Code:68100 ALEXANDROUPOLIS Telephone: (+30)-(25510) Fax: (+30)-(25510) info@akritas.gr ALAPIS HOLDING INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME OF PHARMAC, CHEMICAL & ORGANIC PRODUCTS Foundation Year: 1981 Listing Date: 05/04/1999 Manufacture and supply of veterinary products and medicines. Operation of fish farms and distribution of fish feed. Big Capitalisation Health Care Pharmaceuticals ALAPIS - ALAPIS (CR) - GRS AFTOKRATOROS NIKOLAOU 2 Postal Code: ATHENS Telephone: (+30)-(213) Fax: (+30)-(210) Page 125

127 ALCO HELLAS SA Foundation Year: 1990 Listing Date: 10/02/1997 Manufacture of, and trade in, aluminium, steel and related products. Medium and Small Capitalisation Basic Resources Aluminum ALCO - ALCO HELLAS SA (CR) - GRS AREA KYRILLO - Postal Code:19300 ASPROPYRGOS Telephone: (+30)-(210) Fax: (+30)-(210) , (210) info@alco.gr "ALFA-BETA" VASSILOPOULOS S.A. Foundation Year: Listing Date: 26/11/1990 Retail chain processing and marketing packaged foods; imports of food products. Big Capitalisation Retail Food Retailers & Wholesalers BASIK AB VASILOPOULOS SA (CR) - GRS SPATON AVE. 81 Postal Code:15344 GERAKAS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) tabramidou@ab.gr Page 126

128 ALISIDA S.A. Foundation Year: 1989 Listing Date: 01/11/1990 Manufacture of, and trade in, shoes and sportswear. Under Suspension Personal & Household Goods Footwear ALYSK - ALISIDA SA (CB) - GRS ALYSP - ALISIDA SA (PR) - GRS KM, THESSALONIKI-POLYGYROS NAT. ROAD - Postal Code:57001 THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) alysfoot@otenet.gr ALMA- ATERMON S.A. Foundation Year: 1986 Listing Date: 17/03/1999 Outdoor advertising. Installation of advertising hoardings. Under Supervision Media Media Agencies ATERM - ALMA-ATERMON SA (CR) - GRS IVIKOU STR. 4 Postal Code:11635 ATHENS Telephone: (+30)-(210) /-811, (210) Fax: (+30)-(210) atermona@otenet.gr Page 127

129 ALPHA ASTIKA AKINITA S.A. Foundation Year: 1942 Listing Date: 29/06/1999 Real estate development. Low Dispersion and Specific Features Real Estate Real Estate Services ASTAK - ALPHA REAL ESTATE SA(CR) - GRS PANEPISTIMIOU STR. 43 Postal Code:10564 ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) astika@tee.gr ALPHA GRISSIN POWER AND ENVIRONMENTAL CONTROL SYSTEMS S.A. Foundation Year: 2000 Listing Date: 20/04/2004 a) The import and commerce of equipment and materials for support of computers and electronic equipment b) The study for installation of the above equipment and the technical support and maintenance c) The study and construction of electronic installations for the location of equipment for computer support and the general execution of electronic installations d) The assembly of rectifier systems and electric distribution boards e) The representation of local and foreign brands, which produce or sell the above equipment and materials f) The export of equipment for support of computers g) The establishment, of plants for the production of systems for support of computers, in Greece or abroad and the general execution of electronic installations h) The import and commerce of systems for support of telecommunication equipment an speciffically for digital mobile telecommunication bases i) The study and installation of systems for support of digital telecom centers and mobile telecom centers and additionally, operations for the construction of telecom bases (digital and mobile telephony) j) Import, commerce, research, installation of safety systems, entrance control and surveillance of buildings and electromechanical plants k) Operations for the assembly of rectifier systems and electric distribution boards Medium and Small Capitalisation Technology Computer Services AGRI - ALPHA GRISSIN S.A. (CR) - GRS SYNGROU AVE. 137 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) carsenian@alphagrissin.gr Page 128

130 ALPHA TRUST ΑNDROMEDA INVESTMENT TRUST SA Foundation Year: 2000 Listing Date: 19/12/2001 Portfolio management of shares, bonds, mutual funds, etc, according to L. 1969/91 (art.1). Medium and Small Capitalisation Financial Services Equity Investment Instruments ANDRO - ANDROMEDA SA (CR) - GRS TATOIOU 21 Postal Code: KIFISSIA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) k.tzinieris@alphatrust.gr ALPHA ΒΑΝΚ S.A. Foundation Year: 1879 Listing Date: 02/11/1925 Banking operations of all types. Big Capitalisation Banks Banks ALPHA - ALPHA ΒΑΝΚ (CR) - GRS STADIOU STR 40 Postal Code:10252 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) announcements@alpha.gr Page 129

131 ALSINCO S.A Foundation Year: 1995 Listing Date: 14/03/2002 Imports and exports, wholesale and retail of shoes, clothing and leather goods. The represantation of foreign and domestic firms. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories ALSIN - ALSINCO S.A (CR) - GRS NAUPLIOU STR. 8 Postal Code: METAMORFOSI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) alsinco@in.gr ALTEC S.A. INFORM. & COMMUN. SYST. Foundation Year: 1988 Listing Date: 02/08/1995 Assembly and supply of desktop computers and related electrical equipment and services. Under Supervision Technology Computer Services ALTEC - ALTEC SA (CR) - GRS Telephone: Fax: Page 130

132 ALTIUS INVESTMENT FUND SA Foundation Year: Listing Date: 16/08/2002 Securities portofolio management Under Suspension Financial Services Equity Investment Instruments ALTI - ALTIUS INV. FUND SA (CR) - GRS PATRIARXOU IOAKEIM STR. 1 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) altius@altius.gr ALUMIL MILONAS ALUM. IND. S.A. Foundation Year: 1988 Listing Date: 26/01/1998 Aluminium extrusion industry. Medium and Small Capitalisation Basic Resources Aluminum ALMY - ALUMIL MILONAS SA (CR) - GRS KILKIS IND ZONE - Postal Code:54629 KILKIS Telephone: (+30)-(23410)-79300/-4 Fax: (+30)-(23410) investors@alumil.com Page 131

133 ANEK LINES S.A. Foundation Year: 1967 Listing Date: 21/01/1999 Ferry operator on domestic and foreign routes. Big Capitalisation Travel & Leisure Travel & Tourism ANEK - ANEK LINES SA (CR) - GRS ANEP - ANEK LINES SA (PR, issue '90) - GRS ANEPO - ANEK LINES SA (PR, issue '96) - GRS KARAMANLI AVE. Postal Code:73100 CHANIA Telephone: (+30)-(28210) Fax: (+30)-(28210) metoxes@anek.gr AS COMPANY S.A. Foundation Year: 1990 Listing Date: 13/10/2000 Supply of, and trade in, toys, electronic games, board games, etc. Medium and Small Capitalisation Retail Specialty Retailers ASCO - AS COMPANY SA (CR) - GRS ND KM PALAIAS SYMMACHIKIS ODOU - Postal Code:57013 ORAIOKASTRON Telephone: (+30)-(2310) Fax: (+30)-(2310) tkoufou@ascompany.gr Page 132

134 ASPIS BANK S.A. Foundation Year: 1992 Listing Date: 08/09/1998 Banking operations, including mortgage lending, deposits, repos, foreign exchange and securities transactions and safe custody. Big Capitalisation Banks Banks ASPT - ASPIS BANK SA (CR) - GRS OTHONOS STR. 4 Postal Code:10557 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) aspissec@aspisbank.gr ASPIS PRONIA GENERAL INSURANCES S.A. Foundation Year: 1941 Listing Date: 01/08/1972 General insurance and reinsurance. Representation of Greek or foreign insurance companies. Under Suspension Insurance Property & Casualty Insurance ASASK - ASPIS PRONIA GEN. INSUR. (CR) - GRS KIFISIAS AVE. 62 Postal Code:15125 MAROUSI Telephone: (+30)-(210) /-73 Fax: (+30)-(210) aspis1@otenet.gr Page 133

135 ASTIR PALACE VOULIAGMENI S.A. Foundation Year: 1998 Listing Date: 24/07/2000 Hotel operation and related tourism activities. Medium and Small Capitalisation Travel & Leisure Hotels ASTIR - ASTIR PALACE SA (CR) - GRS APOLLONOS 40 Postal Code:16671 VOULIAGMENI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) financial@astir.gr ATHENA S.A. Foundation Year: 1966 Listing Date: 30/01/1995 Engineering consultant and contractor undertaking private and public sector projects. Engineering consultant. Supply and installation of medical equipment. Building management and maintenance. Low Dispersion and Specific Features Construction & Materials Heavy Construction ATHINA - ATHENA SA (CR) - GRS MESOGION AVE Postal Code:15231 CHALANDRI Telephone: (+30)-(210) Fax: (+30)-(210) stock-exchange@athena-sa.gr Page 134

136 ATHENS MEDICAL C.S.A. Foundation Year: 1983 Listing Date: 29/08/1991 Medical centre. Big Capitalisation Health Care Health Care Providers IATR - ATHENS MEDICAL CENTER SA (CR) - GRS DISTOMOU STR. 5-7 Postal Code:15125 MAROUSI Telephone: (+30)-(210) /-20 Fax: (+30)-(210) metox@iatriko.gr ATHENS WATER SUPPLY & SEWAGE Co. Foundation Year: Listing Date: 28/01/2000 Water and sewerage utility. Big Capitalisation Utilities Water EYDAP - EYDAP S.A. (CR) - GRS OROPOU STR. 156 Postal Code:11146 GALATSI Telephone: (+30)-(210) Fax: (+30)-(210) /-79, (210) eydap-met@ath.forthnet.gr Page 135

137 ATLANTIC SUPER MARKET S.A. Foundation Year: 1997 Listing Date: 11/01/2001 Supermarket chain. Importer of food products. Medium and Small Capitalisation Retail Food Retailers & Wholesalers ATLA - ATLANTIC SA (CR) - GRS VOULIAGMENIS AVE. 516 Postal Code:17456 ALIMOS Telephone: (+30)-(210) Fax: (+30)-(210) ase@atlantic.gr ATTICA HOLDINGS S.A. Foundation Year: 1918 Listing Date: 12/03/1924 Holding company whose principal investments are in wholly-owned shipping subsidiaries. Low Dispersion and Specific Features Travel & Leisure Travel & Tourism ATTICA - ATTICA HOLDINGS (CR) - GRS SYGGROU AV & 3 TORVA STR Postal Code:11745 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) ir@attica-group.com Page 136

138 ATTICA BANK S.A. Foundation Year: 1925 Listing Date: 02/06/1964 Banking operations of all types. Medium and Small Capitalisation Banks Banks TATT - ATTICA BANK S.A. (CR) - GRS OMIROU STR. 23 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) Tzavalas.Theodoros@bankofattica.gr ATTICA PUBLICATIONS S.A. Foundation Year: 1994 Listing Date: 11/10/1999 Newspaper and magazine publisher. Medium and Small Capitalisation Media Publishing ATEK - ATTICA PUBLICATIONS SA (CR) - GRS KIFISIAS AVE. 40 Postal Code:15125 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) , (210) panopoulos@atticamedia.gr Page 137

139 ATTI-KAT S.A. Foundation Year: 1980 Listing Date: 07/07/1994 Design and construction of major construction projects and tourism facilities. Operation of quarries. Medium and Small Capitalisation Construction & Materials Heavy Construction ATTIK - ATTI - KAT SA (CR) - GRS MESOGION AVE. (BUILDING G1) Postal Code:11526 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) rtol@attikat.gr AUDIO VISUAL ENTERPRISES S.A. Foundation Year: 1982 Listing Date: 12/07/2005 Medium and Small Capitalisation Media Broadcasting & Entertainment AVE - AUDIO VISUAL ENTERPRISES (CR) - GRS PARNONOS STR. 3 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) Page 138

140 AUTOHELLAS S.A. Foundation Year: 1962 Listing Date: 30/08/1999 Car import and distribution. Big Capitalisation Travel & Leisure Travel & Tourism OTOEL - AUTOHELLAS SA (CR) - GRS VILTANIOTI STR. 31 Postal Code:14564 KIFISSIA Telephone: (+30)-(210) Fax: (+30)-(210) , (210) mgmsofia@hertz.gr BABIS VOVOS INTERNATIONAL TECHNICAL S.A. Foundation Year: 1974 Listing Date: 30/05/2001 Real estate development and construction company. Big Capitalisation Real Estate Real Estate Holding & Development VOVOS - BABIS VOVOS SA (CR) - GRS KIFISIAS AVE. 340 Postal Code:15451 N. PSYCHIKO Telephone: (+30)-(210) Fax: (+30)-(210) press@babisvovos.gr, ir@babisvovos.gr Page 139

141 BALKAN REAL ESTATE S.A. Foundation Year: 1963 Listing Date: 10/01/1990 Manufacture of, and trade in, timber products (panels) and general trading in industrial, agricultural and mineral products. Medium and Small Capitalisation Real Estate Real Estate Holding & Development BALK - BALKAN R.E. (CR) - GRS TH KLM., THESSALONIKI-VERIA NATIONAL ROAD, ANCHIALOS THSSALONIKIS P.O Postal Code:54110 THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) balkan@compulink.gr, ehatziperi@michaniki.gr BANK OF GREECE Foundation Year: 1927 Listing Date: 12/06/1930 Τhe Statute οf the Bank of Greece: " explicitly states that the Bank's primary objective is price stability " safeguards the Bank' s independence towards the government or any organisation and its accountability to Parliament " recognizes the Bank's legal integration into the European System of Central Banks The main tasks of the Bank of Greece are related to: " monetary policy " policy on the exchange rate of the currency of Greece " management of the country's official foreign reserves " issuance of banknotes with the status of legal tender " prudential supervision on credit institutions and other financial institutions " smooth operation of payment and securities settlement systems as well as operational reliability and legal safety of means of payment The Bank of Greece also acts as treasurer and fiscal agent for the government. Medium and Small Capitalisation Banks Banks TELL - BANK OF GREECE (CR) - GRS PANEPISTIMIOU STR. 21 Postal Code:10250 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) sec.secretariat@bankofgreece.gr Page 140

142 BANΚ OF CYPRUS PUBLIC COMPANY LTD Foundation Year: Listing Date: 08/11/2000 Banking operations of all types. Big Capitalisation Banks Banks BOC - BANK OF CYPRUS (CR) - CY ,STASINOU (AG. PARASKEVI, STROVOLOS) Postal Code:CY-1599 NICOSIA Telephone: (+30)-( ) Fax: (+30)-( ) investors@bankofcyprus.com BETANET SA Foundation Year: 1994 Listing Date: 12/07/2001 Supply and assembly of prefabricated products. R&D on prefabricated products. Under Suspension Construction & Materials Building Materials & Fixtures BETAN - BETANET (CR) - GRS TH KM, N.R. ATHINON-LAMIAS Postal Code: AYLIDA Telephone: (+30) , Fax: (+30) info@betanet.gr Page 141

143 BIOKARPET S.A. INDUSTRIAL AND COMMERCIAL ENTERPRISES Foundation Year: 1970 Listing Date: 12/11/1990 Holding company. Medium and Small Capitalisation Personal & Household Goods Furnishings BIOKA - BIOKARPET S.A.(CR) - GRS TH KM LARISSA-ATHENS NAT. ROAD, P.O. BOX Postal Code:41110 LARISA Telephone: (+30)-(2410) /-3 Fax: (+30)-(2410) gpapageorg@albio.gr BIOTER S.A. Foundation Year: 1962 Listing Date: 27/08/1975 Civil engineering contractor undertaking private and public sector projects including power generation plant, marine works, roads, etc. Medium and Small Capitalisation Construction & Materials Heavy Construction BIOT - BIOTER SA (CR) - GRS EUTIHIDOU STR. 45 Postal Code:11634 ATHENS Telephone: (+30)-(210) /-6 Fax: (+30)-(210) zolot@bioter.gr, kat-liakou@tee.gr Page 142

144 BITROS HOLDING S.A. Foundation Year: 1945 Listing Date: 13/03/1990 Holding company. Medium and Small Capitalisation Basic Resources Steel MPITR - BITROS HOLDING SA (CR) - GRS , NATO AVE Postal Code: ASPROPYRGOS Telephone: (+30)-(210) Fax: (+30)-(210) info@bitros.gr BYTE COMPUTER S.A. Foundation Year: 1990 Listing Date: 23/02/2000 Production and export/import of computer and office automation products. Medium and Small Capitalisation Technology Computer Services BYTE - BYTE COMPUTER SA (CR) - GRS TRIVOLI & KALLIROIS STR. 98 Postal Code:11741 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) , (210) xtsenes@byte.gr Page 143

145 C. CARDASSILARIS & SONS - CARDICO S.A. Foundation Year: 1980 Listing Date: 09/10/1996 Processing of, and trade in, dried fruit. Also production of chocolate and patisserie products. Holdings in other companies of the sector. Medium and Small Capitalisation Food & Beverage Food Products KARD - CARDASSILARIS SA (CR) - GRS ND KM, SCHIMATARI-OINOE RD Postal Code:32009 OINOFYTA Telephone: (+30)-(22620) Fax: (+30)-(22620) financial@cardico.com CENTRIC MULTIMEDIA S.A. Foundation Year: Listing Date: 02/08/2002 Medium and Small Capitalisation Personal & Household Goods Toys CENTR - CENTRIC MULTIMEDIA S.A. (CR) - GRS MAKRYGIANNI STR. 20 Postal Code: MOSCHATO Telephone: (+30)-(210) Fax: (+30)-(210) marbaniti@centric.gr Page 144

146 CHATZIKRANIOTIS & SONS MILLS S.A. Foundation Year: 1970 Listing Date: 27/12/1999 Production of flour and similar products. Medium and Small Capitalisation Food & Beverage Food Products HKRAN - CHATZIKRANIOTIS & SONS SA (CR) - GRS TERMOPILON STR. 29 Postal Code:10435 ATHENS 1ST KM, TYRNAVOU LARISAS Postal Code:40100 TYRNAVOS Telephone: (+30)-(210) , (24920) Fax: (+30)-(210) xkran@otenet.gr COCA-COLA Ε.Ε.Ε. S.A. Foundation Year: 1969 Listing Date: 15/07/1991 Production, sale and distribution of soft drinks, in particular those of the Coca-Cola company, and other fruit juices, mineral waters, etc. Big Capitalisation Food & Beverage Soft Drinks EEEK - COCA - COLA HBC (CR) - GRS FRAGKOKKLISIAS STR. 9 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) investor.relations@cchellenic.com Page 145

147 COMPUCON COMPUTER APPLICATIONS SA Foundation Year: 1993 Listing Date: 02/04/2002 Production and sales of electronic manufactures and software for the needlecraft sector, and any other kind of electronic manufacture and software for computers and micro-computers. Computer trading. Under Supervision Technology Software COMP - COMPUCON SA (CR) - GRS TH KM NAT.RD THESSALONIKIS-MOUDANION Postal Code: TERMI Telephone: (+30)-(2310) Fax: (+30)-(2310) anna@compucon.gr CORINTH PIPEWORKS S.A. Foundation Year: 1969 Listing Date: 30/07/1998 Manufacture of pipes and related activities. Big Capitalisation Basic Resources Steel SOLK - CORINTH PIPEWORKS SA (CR) - GRS PYRGOS ATHINON-BUILDING B, MESOGEION AVE. 2-4 Postal Code: ATHENS ETHNIKIS ANTISTASEOS STR. 57 Postal Code:15231 CHALANDRI Telephone: (+30)-(210) Fax: (+30)-(210) info@cpw.gr Page 146

148 CPI COMPUTER PERIPHERALS INTERNATIONAL Foundation Year: 1995 Listing Date: 11/12/2000 Information technology products and computer peripherals. Medium and Small Capitalisation Technology Computer Hardware CPI - CPI SA (CR) - GRS PAFAILIDOU STR. 1 Postal Code:17778 TAYROS Telephone: (+30)-(210) Fax: (+30)-(210) stsa@cpi.gr CRETE PLASTICS S.A. Foundation Year: 1974 Listing Date: 13/05/1999 Industrial production and plastic products distribution which are used in agriculture, in technical constructions, and as row materials in the industry of plastic goods. Medium and Small Capitalisation Chemicals Specialty Chemicals PLAKR - CRETE PLASTICS SA (CR) - GRS P.O. BOX Postal Code:71110 HERAKLEION - CRETE Telephone: (+30)-(2810) Fax: (+30)-(2810) info@plastikakritis.com Page 147

149 CROWN HELLAS CAN Foundation Year: 1965 Listing Date: 07/01/1992 Manufacture of packaging materials. Low Dispersion and Specific Features Industrial Goods & Services Containers & Packaging ELCAN - CROWN HELLAS CAN SA (CR) - GRS ETHNIKIS ANTISTASEOS STR. 57 Postal Code:15231 CHALANDRI Telephone: (+30)-(210) Fax: (+30)-(210) /-56 Georgina.KASIMATI@eur.crowncork.com CYCLON HELLAS S.A. Foundation Year: 1974 Listing Date: 17/12/1990 Manufacture and trade in plastic pipes and related products. Medium and Small Capitalisation Chemicals Specialty Chemicals CYCL - CYCLON HELLAS SA (CR) - GRS MEGARIDOS STR. 124 Postal Code:19300 ASPROPYRGOS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) ksarafoglou@cyclon.gr Page 148

150 DAIOS PLASTICS SA Foundation Year: 1977 Listing Date: 20/04/2000 Manufacture and supply of plastic sheeting and polyethylene pipes for agricultural purposes. Medium and Small Capitalisation Chemicals Specialty Chemicals DAIOS - DAIOS PLASTICS SA (CR) - GRS TH KM VEROIAS - NAOYSAS RD, T.T. 9 - Postal Code:59200 NAOUSA Telephone: (+30)-(23320)-42412, (23320) Fax: (+30)-(23320) info@daiosplastics.com DIAGNOSTIC & THERAPEUTIC CENTER OF ATHENS HYGEIA Foundation Year: 1970 Listing Date: 07/06/2002 health and medical services Big Capitalisation Health Care Health Care Providers HYGEIA - HYGEIA SA (CR) - GRS ER. STAVROU & KIFISIAS AVE 4 Postal Code:15123 MAROUSI Telephone: (+30)-(210) /-9, (210) Fax: (+30)-(210) ir@hygeia.gr Page 149

151 DIAS AQUACULTURE S.A. Foundation Year: 1992 Listing Date: 18/02/2002 Establishment of aquaculture units, disposal o f production in Greece and abroad, production and trade of shell-fish and any kind of fishes, fresh or frozen. Medium and Small Capitalisation Food & Beverage Farming & Fishing DIFF - DIAS A/C (CR) - GRS ELAION STR. 54 Postal Code: KIFISSIA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) diassa1@otenet.gr DIAS S.A. INVESTMENT COMPANY Foundation Year: 1991 Listing Date: 27/07/1992 Investment services and portfolio management, as provided for by law 1969/91. Medium and Small Capitalisation Financial Services Equity Investment Instruments DIAS - DIAS CLOSED & INV. FUND (CR) - GRS VOUKOURESTIOU STR. 19 Postal Code:10671 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) diasinv@hol.gr Page 150

152 DIEKAT S.A. Foundation Year: 1976 Listing Date: 09/12/1994 Construction company. Under Suspension Construction & Materials Heavy Construction DIEKA - DIEKAT SA (CR) - GRS KONSTANTINOUPOLEOS STR. 42 Postal Code:19400 KOROPI Telephone: (+30)-(210) Fax: (+30)-(210) diekat-ath@ath.forthnet.gr DIONIC S.A. Foundation Year: 1995 Listing Date: 11/10/1999 Assembly and supply of computers. Medium and Small Capitalisation Industrial Goods & Services Industrial Suppliers DION - DIONIC (CR) - GRS ARISTOTELOUS STR. 95 Postal Code:13671 ACHARNAI Telephone: (+30)-(210) Fax: (+30)-(210) makariou@dionic.com.gr Page 151

153 DOMIKI KRITIS S.A. Foundation Year: 1985 Listing Date: 15/02/2000 The production and supply of ready-mixed concrete and related products. Medium and Small Capitalisation Construction & Materials Heavy Construction DOMIK - DOMIKI KRITIS SA (CR) - GRS KORONAIOU STR.HERAKLEION CRETE 14 Postal Code:71202 HERAKLEION - CRETE Telephone: (+30)-(2810) , (2810) Fax: (+30)-(2810) finance@domik.gr DROMEAS S.A. OFFICE FURNITURE INDUSTRY Foundation Year: 1979 Listing Date: 24/11/2000 Construction, trading and sale of all kinds of furniture. Medium and Small Capitalisation Personal & Household Goods Furnishings DROME - DROMEAS SA (CR) - GRS SERRES INDUSTRIAL ESTATE, BLOCK 9 - Postal Code:61221 SERRES Telephone: (+30)-(23210)-99220, (23210) Fax: (+30)-(23210) dromfin@otenet.gr Page 152

154 DRUCKFARBEN HELLAS SA Foundation Year: 1986 Listing Date: 11/12/1998 Manufacture of, and trade in, printing inks and related chemical and graphic arts materials. Medium and Small Capitalisation Chemicals Specialty Chemicals DROUK - DRUCKFARBEN HELLAS (CR) - GRS MEGARIDOS AVE.-THESI KALISTIRI-ASPROPYRGOS Postal Code:19300 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) contact.us@druckfarben.gr DUROS S.A. Foundation Year: 1971 Listing Date: 03/08/2000 Clothes manufacturer. Holdings in other companies of the sector. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories DUR - DUROS SA (CR) - GRS MARAGKOPOULOU STR. 80 Postal Code:26331 PATRA Telephone: (+30)-(2610) Fax: (+30)-(2610) xenog@dur.gr Page 153

155 E. PAIRIS S.A Foundation Year: 1974 Listing Date: 08/01/1997 Production of, and trade in, plastics products. Holdings in other companies of the sector. Medium and Small Capitalisation Industrial Goods & Services Containers & Packaging PAIR - PAIRIS SA (CR) - GRS THESI GORITSA Postal Code:19300 ASPROPYRGOS Telephone: (+30)-(210) Fax: (+30)-(210) Hermes@pairis.gr, Sofia.Christopoulou@pairis.gr EDRASIS - C. PSALLIDAS S.A. Foundation Year: 1974 Listing Date: 14/11/1994 Engineering contractor specialising in geotechnical projects. Medium and Small Capitalisation Construction & Materials Heavy Construction EDRA - EDRASIS - C. PSALLIDAS SA (CR) - GRS TH KM ATTIKI ODOS Postal Code:19400 KOROPI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) edrasec@ath.forthnet.gr Page 154

156 EFG EUROBANK ERGASIAS S.A. Foundation Year: Listing Date: 23/08/1926 Banking operations of all types. Big Capitalisation Banks Banks EUROB - EUROBANK EFG (CR) - GRS OTHONOS STR. 8 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) , (210) investor_relations@eurobank.gr EKTER S.A. Foundation Year: 1973 Listing Date: 23/11/1994 Civil engineering contractor undertaking private and public sector projects. Medium and Small Capitalisation Construction & Materials Heavy Construction EKTER - EKTER SA (CR) - GRS NIKIS STR. 15 Postal Code:10557 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) ekter@ekter.gr Page 155

157 EL. D. MOUZAKIS S.A. Foundation Year: 1968 Listing Date: 29/03/1991 Production of, and trade in, textile fibres; also trading in consumer goods and agricultural products and machinery. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories MOYZK - EL. D. MOUZAKIS SA (CB) - GRS KIFISSOU AVE. 41 Postal Code:12242 AIGALEO Telephone: (+30)-(210) Fax: (+30)-(210) , (210) accounting@mouzakis.gr ELASTRON S.A. Foundation Year: 1958 Listing Date: 30/08/1990 Trade and processing of steel and steel products. Medium and Small Capitalisation Basic Resources Steel ELSTR - ELASTRON (CR) - GRS DIILISTIRION AVE - AG. IOANNIS 190 Postal Code:18233 ASPROPYRGOS Telephone: (+30)-(210) Fax: (+30)-(210) kalsim@otenet.gr Page 156

158 ELBISCO HOLDING S.A. Foundation Year: 1987 Listing Date: 10/10/1994 Production and supply of food products. Low Dispersion and Specific Features Food & Beverage Food Products ELBI - ELBISCO S.A. (CB) - GRS ST KM, MARATHONOS AVE. Postal Code:19009 PIKERMI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) ir@elbisco.gr ELECTRONIKI ATHINON S.A. Foundation Year: 1989 Listing Date: 23/12/1999 Retailing of household electrical goods, air conditioning, radio and television systems. Big Capitalisation Retail Home Improvement Retailers ELATH - ELECTRONIKI ATHINON SA (CR) - GRS ETHNARCHOU MAKARIOU STR. 2 Postal Code:12132 PERISTERI Telephone: (+30)-(210) Fax: (+30)-(210) , (210) frontistis@electroniki.gr Page 157

159 ELEFTHERI TILEORASI S.A. Foundation Year: 1990 Listing Date: 19/07/2000 Television productions. Medium and Small Capitalisation Media Broadcasting & Entertainment ALTER - ELEFTHERI TILEORASI SA (CR) - GRS AG. PARASKEVIS STR Postal Code:12132 PERISTERI Telephone: (+30)-(210) Fax: (+30)-(210) ir@alter.gr ELFICO S.A. Foundation Year: 1973 Listing Date: 28/08/1987 Production and processing of textiles. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories ELFIK - ELFICO SA (CR) - GRS SCHIMATARI VOIOTIAS - Postal Code:32009 SCHIMATARI Telephone: (+30)-(22620)-58025, (22620) Fax: (+30)-(22620) info@elfiko.gr Page 158

160 ELGEKA S.A. Foundation Year: 1980 Listing Date: 16/08/1999 Imports and distribution of all type of foodstuffs as well as other consumer goods. Medium and Small Capitalisation Food & Beverage Food Products ELGEK - ELGEKA SA (CR) - GRS O.T.31 DA 13 Postal Code:57400 SINDOS Telephone: (+30)-(2310) Fax: (+30)-(2310) info@elgeka.gr, kmeintanis@elgeka.gr ELINOIL HELLENIC PETROLEUM COMPANY S.A Foundation Year: 1989 Listing Date: 10/03/2004 a) The marketing and production of every type of merchandise and product in general and especially the marketing of liquid fuels, lubricants, gases, solid fuels and all types of related products b) the proccessing of the above or other type of product c) the marketing and/or production of all forms of energy, such as, for example, electricity, (on condition, as especially for electricity, as long as it is a legal requirement, that the company shares be registered), other forms of innocuous or renewable sources of energy, etc d) All forms of profitable transportation e) the representation of domestic or foreign businesses f) the conduct of any kind of related bussiness g) The study and construction of technical works especially those to do with liquid fuel outlets, car parks, marinas, oil installations, solid fuels, other sources of energy, etc h) The provision of services related to the above i) The participation in existing and/or in com panies of all types that may be formed in the future, of which the ultimate aims of the present company, as well as any other form of collaboration with companies of the above type Medium and Small Capitalisation Oil & Gas Integrated Oil & Gas ELIN - ELINOIL S.A. (CR) - GRS PIGON STR. 33 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) Page 159

161 ELLAKTOR S.A. Foundation Year: 1962 Listing Date: 20/04/1994 Civil engineering contractor specializing in industrial buildings, hospitals, hotels, residential developments, waste water treatment plants, bridges and road building. Big Capitalisation Construction & Materials Heavy Construction ELLAKTOR - ELLAKTOR (CR) - GRS ERMOU STR. 25 Postal Code: KIFISSIA Telephone: (+30)-(210) Fax: (+30)-(210) spitoskas@etae.com ELMEC SPORT S.A. Foundation Year: 1981 Listing Date: 28/02/1991 Supply of sportswear, household products, building materials, etc. Import of motorcycles, cars, spare parts and motorcycle accessories. Low Dispersion and Specific Features Personal & Household Goods Clothing & Accessories ELME - ELMEC SPORT SA (CR) - GRS VOULIAGMENIS AVE. 96 Postal Code:16674 GLYFADA Telephone: (+30)-(210) Fax: (+30)-(210) anamourloglou@elmec.gr Page 160

162 ELTON S.A. Foundation Year: 1981 Listing Date: 04/08/2000 Import/export and supply of chemical products. Medium and Small Capitalisation Chemicals Commodity Chemicals ELTON - ELTON SA (CR) - GRS DRASSESA, IND. PARK Postal Code: AVLONAS Telephone: (+30)-(22950) Fax: (+30)-(22950) elton@hol.gr ELTRAK S.A. Foundation Year: 1982 Listing Date: 20/08/1991 Import/export of machinery, vehicles, motor vehicle spare parts, tyres, etc.. Medium and Small Capitalisation Industrial Goods & Services Commercial Vehicles & Trucks ELTRK - ELTRAK SA (CR) - GRS KORNILIOU & THIVAIDOS STR. 15 Postal Code:14564 KIFISSIA Telephone: (+30)-(210) Fax: (+30)-(210) Page 161

163 ELVAL - HELLENIC ALUMINIUM INDUSTRY S.A. Foundation Year: 1981 Listing Date: 10/06/1996 Processing of aluminium; production of aluminium foil, related laminated products and galvanized steel products. Big Capitalisation Basic Resources Aluminum ELBA - ELVAL SA. (CB) - GRS Telephone: (+30)- Fax: (+30)- ELVE S.A. Foundation Year: 1987 Listing Date: 10/07/1995 Engineering contractor undertaking private and public sector projects. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories ELBE - ELVE SA (CR) - GRS AG. ANDREAS STR. - Postal Code:64007 NEA PERAMOS Telephone: (+30)-(25940)-23600/-3 Fax: (+30)-(25940) elve@otenet.gr Page 162

164 ELVIEMEK LAND DEVELOPMENT - LOGISTICS PARKS S.A. EMPORIKI BANK OF GREECE S.A. Foundation Year: 1907 Listing Date: 08/04/1909 Banking operations of all types. Medium and Small Capitalisation Banks Banks TEMP - EMPORIKI BANK (CR) - GRS SOPHOCLEOUS STR. 11 Postal Code:10673 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) admfunctions.sec@combank.gr EMPORIKOS DESMOS S.A. Foundation Year: 1979 Listing Date: 26/07/1990 Trade in cosmetics, toys, stationery, household appliances and motor vehicle spare parts. Under Supervision Personal & Household Goods Durable Household Products EMDKO - EMPORIKOS DESMOS SA (CR) - GRS EMDPO - EMPORIKOS DESMOS SA (PR) - GRS FRANTZI STR. & SYΝGROU AVE. 2 Postal Code:11745 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) k.stylianou@emporikosdesmos.com.gr Page 163

165 ERGAS S.A. Foundation Year: 1976 Listing Date: 23/06/1994 Construction company also involved in trade in building materials and related building products; representation of domestic and foreign firms of the sector. Under Suspension Construction & Materials Heavy Construction ERGAS - ERGAS SA (CR) - GRS ALEXANDROUPOLEOS STR. 25 Postal Code:11527 ATHENS Telephone: (+30)-(210) , (210) /-15 Fax: (+30)-(210) , (210) ergas-xa@otenet.gr "ETMA" RAYON S.A. Foundation Year: 1925 Listing Date: 07/07/1938 Production, processing and trade in viscose and nylon yarns. Under Suspension Personal & Household Goods Clothing & Accessories ETMAK - ETMA RAYON SA (CR) - GRS ETMAP - ETMA (PR) - GRS ASKLIPIOU STR. 23 Postal Code:10680 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) sales@etmagroup.gr Page 164

166 EUROBANK PROPERTIES REAL ESTATE INVESTMENT COMPANY Foundation Year: 1952 Listing Date: 12/04/2006 The Company?s activities relate to investments in real estate properties and to the management of its portfolio real estate assets and securities (always in conjunction with real estate properties), in accordance with L. 2778/1999 of Real Estate Investment Companies, as in force. Big Capitalisation Real Estate Specialty REITs EUPRO - EUROBANK PROPERTIES REIC (CR) - GRS SINIOSOGLOU STR. 6 Postal Code:14234 NEA IONIA Telephone: (+30)-(210) Fax: (+30)-(210) eurobankproperties@eurobank.gr EUROBROKERS S.A. Foundation Year: 1992 Listing Date: 08/04/2004 To intermediate as an insurance broker between assureds and insurers, local or international insurers and/or Loyd's Underwriters, in Greece and abroad, with the purpose of contracting insurances and facultative or treaty reinsurances as well as the provision of any service related to its main objective. Under Supervision Insurance Insurance Brokers EUBRK - EUROBROKERS S.A. (CR) - GRS KIFISIAS AVE. 100 Postal Code:15125 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) info@eurobrokers.gr Page 165

167 EUROCONSULTANTS SA Foundation Year: 1993 Listing Date: 07/01/2002 Consultancy services and technological solutions Medium and Small Capitalisation Industrial Goods & Services Business Support Services EUROC - EUROCONSULTANTS S.A. (CR) - GRS ANTONI TRITSI 21 Postal Code:55102 THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) mattheopoulou@euroconsultants.com.gr EURODRIP S.A. Foundation Year: 1983 Listing Date: 08/09/2000 Supply of plastic pipes for use in irrigation. Medium and Small Capitalisation Chemicals Specialty Chemicals EDRIP - EURODRIP SA (CR) - GRS PARASCHOU 143 Postal Code:11475 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) ir@eurodrip.gr Page 166

168 EUROHOLDINGS CAPITAL & INVESTMENT CORP. S.A. Foundation Year: 1933 Listing Date: 17/01/1962 Holding company with holdings in listed and unlisted manufacturing and trading companies. Under Supervision Food & Beverage Farming & Fishing EUROS - EUROHOLDINGS CAPITAL CORP (CR) - GRS PANEPISTIMIOU STR. 39 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) info@euroholdings.gr EUROLINE INVESTMENTS CLOSED & INVESTMENT COMPANY Foundation Year: 2000 Listing Date: 11/12/2002 Low Dispersion and Specific Features Financial Services Equity Investment Instruments ELINE - EUROLINE INVESTMENTS SA (CR) - GRS DRAGATSANIOU 8 Postal Code:10559 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) Page 167

169 EUROMEDICA S.A. Foundation Year: 1974 Listing Date: 07/10/1999 Health-care services company with presence in the primary and secondary segments of the health-care industry through medical centers and hospitals respectively. Medium and Small Capitalisation Health Care Health Care Providers EUROM - EUROMEDICA SA (CR) - GRS MESOGEION AVE. 2-4 Postal Code:11527 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) euromedica@ath.forthnet.gr EUROPEAN RELIANCE GEN. INSURANCE CO. S.A. Foundation Year: 1977 Listing Date: 29/04/1997 General and life insurance activities and re-insurance. Non-life and life insurance services provided according to article 13 of decree 400/70. Medium and Small Capitalisation Insurance Property & Casualty Insurance EUPIC - EUROPEAN RELIANCE INSUR. (CR) - GRS KIFISIAS AVE. 274 Postal Code:15232 CHALANDRI Telephone: (+30)-(210) Fax: (+30)-(210) mvaksevanis@europisti.gr Page 168

170 EVROFARMA SA Foundation Year: 1991 Listing Date: 12/06/2000 Animal husbandry. Producer and supplier of meat and dairy products. Medium and Small Capitalisation Food & Beverage Food Products EVROF - EVROFARMA SA (CR) - GRS RD KM, ALEXANDROUPOLIS-BORDERS RD Postal Code: ALEXANDROUPOLIS Telephone: (+30)-(25510)-88120,150 Fax: (+30)-(25510) info@evrofarma.gr FASHION BOX HELLAS S.A. Foundation Year: Listing Date: 03/01/2003 Import, export, production and sales of clothes and shoes, relative accessories, glasses, watches, umprellas, perfumes and jewellery. Import, production and sales of leather and travel goods. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories BOX - FASHION BOX (CR) - GRS KAPODISTRIOU STR. 90 Postal Code: NEA IONIA Telephone: (+30)-(210) Fax: (+30)-(210) c.tsouvelekakis@fashionbox.gr Page 169

171 F.G. EUROPE S.A. Foundation Year: 1958 Listing Date: 16/11/1968 Supply of household electrical appliances, including computer peripherals. Big Capitalisation Personal & Household Goods Durable Household Products FGE - F.G. EUROPE S.A. (CR) - GRS VOULIAGMENIS AVE. 128 Postal Code: GLYFADA Telephone: (+30)-(210) Fax: (+30)-(210) ir@fgeurope.gr F.H.L. H. KYRIAKIDIS MARBLES - GRANITES S.A. Foundation Year: 1900 Listing Date: 16/12/1998 Mining, processing and marketing of marble, slate and related mineral products. Medium and Small Capitalisation Construction & Materials Building Materials & Fixtures KYRM - KYRIAKIDIS MARBLES SA (CR) - GRS INDUSTRIAL ZONE OF DRAMA - Postal Code:66100 DRAMA Telephone: (+30)-(25210)-81360/-65 Fax: (+30)-(25210) fhl@dra.forthnet.gr Page 170

172 FHL MERMEREN KOMBINAT A.D. PRILEP Foundation Year: Listing Date: 21/05/2004 Within the subject of operation, the company shall perform the following activities: Extracting stone for construction Extractin of other minerals and stone unmentioned elsewhere Cutting, shaping and processing of stone Pulling down and disassembling of objects, excavations works Test drilling and sounding Other constructing matters, including specific matters Assembling of floor and wall linings, Sale of motor vehicles 50.30/1 Wholesale trade on parts and equipment for motor vehicles 50.30/2 Retail sale on parts and equipment for motor vehicles Retail sale on motor fuels Wholesale trade with cereals, seed and food for livestock food wholesale Wholesale trade on livestock Wholesale trade with raw, unfinished and finished leather wholesale Wholesale trade with fruit and vegetable Meat and meat products wholesale wholesale trade for alcoholic and other drinks Wholesale trade for tobacco products Unspecialized wholesale trade on food, drinks and tobacco Wholesale trade on textile Wholesale trade on electrical devices and radio and TV sets Wholesale trade on solid, fluid and gas fuels and similar products Wood, constructing materials and sanitary equipment wholesale Metallic goods, pipes, devices and equipment for central heating wholesale, e.t.c. The company shall conduct the following activities in the foreign trade traffic: a) Foreign trade with food products b) Foreign trade with non food products c) Representation and mediation in the trade with third persons d) Sale of goods from consignment warehouses e) Reexport. Medium and Small Capitalisation Basic Resources General Mining MERKO - FHL MERMEREN (GDR) - GRK BOULEVARD MARSHAL TITO 22 Postal Code: PRILEP Telephone: (+30)-(25210) Fax: (+30)-(25210) fhltrade@acci.gr FIERATEX S.A. Foundation Year: 1988 Listing Date: 30/06/1999 Production, processing and distribution of knitted fabrics. Dyeing and finishing services to other fabrics producers. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories FIER - FIERATEX SA (CR) - GRS NEA SANTA - Postal Code:54500 KILKIS Telephone: (+30)-(23410) Fax: (+30)-(23410) thakour@fieratex.gr Page 171

173 FINTEXPORT S.A. Foundation Year: 1973 Listing Date: 12/01/1976 Production, processing and trade in textiles. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories FIDO - FINTEXPORT SA (CR) - GRS HELMOU STR. 21 Postal Code:14565 AGIOS STEFANOS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) metoxes@fintexport.gr FLEXOPACK S.A. Foundation Year: 1988 Listing Date: 02/04/1996 Production of plastic packaging film. Medium and Small Capitalisation Industrial Goods & Services Containers & Packaging FLEXO - FLEXOPACK SA (CR) - GRS TZIMA, P.O. BOX Postal Code:19400 KOROPI Telephone: (+30)-(210) /-1 Fax: (+30)-(210) anastasios.lyberopoulos@flexopack.gr Page 172

174 FLOUR MILLS C. SARANTOPOULOS S.A. Foundation Year: 1935 Listing Date: 24/11/1949 Production of flour and semolina. Medium and Small Capitalisation Food & Beverage Food Products KYSA - FLOUR MILLS SARANTOPOULOS SA - GRS DIMOKRATIAS AVE. 3 Postal Code:18756 KERATSINION Telephone: (+30)-(210) Fax: (+30)-(210) sarantopoulos@internet.gr FLOUR MILLS KEPENOS S.A. Foundation Year: 1986 Listing Date: 08/01/2002 The production of several types of flour and flour products Medium and Small Capitalisation Food & Beverage Food Products KEPEN - MILLS KEPENOS (CR) - GRS INDUSTRIAL AREA OF PATRA Postal Code: PATRA Telephone: (+30)-(2610) Fax: (+30)-(2610) mkepenos@kepenos.gr Page 173

175 FOLLI - FOLLIE S.A. Foundation Year: 1986 Listing Date: 29/10/1997 Manufacture and retail and wholesale supply of gold and silver jewellery and watches; also clothes, shoes, clothing and accessories. Big Capitalisation Personal & Household Goods Clothing & Accessories FOLLI - FOLLI - FOLLIE SA (CR) - GRS ΤΗ ΚLM ATΗINON-LAMIAS Postal Code:14565 AGIOS STEFANOS Telephone: (+30)-(210) Fax: (+30)-(210) xaa@follifollie.gr Forthnet S.A. Foundation Year: 1995 Listing Date: 06/10/2000 Provider of internet and other telecommunications services. Big Capitalisation Technology Internet FORTH - Forthnet (CR) - GRS ATTHIDON STR. 4 Postal Code:17671 KALLITHEA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) Ir@forthnet.gr Page 174

176 FOURLIS S.A. Foundation Year: 1966 Listing Date: 21/04/1988 Holding company. Big Capitalisation Personal & Household Goods Durable Household Products FOYRK - FOURLIS (CR) - GRS KIFISIAS AVE 340 Postal Code:15451 KIFISSIA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) mail@fourlis.gr FRIGOGLASS S.A. Foundation Year: 1993 Listing Date: 02/12/1999 Manufacture and supply of refrigeration facilities and cooling systems. Also supplier and assembler of electrical and computer products. Big Capitalisation Industrial Goods & Services Industrial Machinery FRIGO - FRIGOGLASS SA (CR) - GRS A. METAXA STR. 15 Postal Code: KIFISSIA Telephone: (+30)-(210) Fax: (+30)-(210) lphillips@frigoglass.com Page 175

177 GALAXIDI FISH FARMING S.A. Foundation Year: 1987 Listing Date: 20/03/2002 Establishment of acua culture units, trading and export of fishes and relative products. Technical consultancy and research on relative topics. Medium and Small Capitalisation Food & Beverage Farming & Fishing GMF - GALAXIDI S.A. (CR) - GRS ANEMOKAMPI Postal Code: GALAXIDI Telephone: (+30)-(22650) Fax: (+30)-(22650) gmf-sa@hol.gr GEK TERNA HOLDING, REAL ESTATE, CONSTRUCTION S.A. Foundation Year: 1959 Listing Date: 28/08/1969 Holding, Real Estate, Construction. Big Capitalisation Construction & Materials Heavy Construction GEKTERNA - GEK TERNA (CR) - GRS MESOGEION AVE. 85 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) gek@gekgroup.gr Page 176

178 GEKE S.A. Foundation Year: 1972 Listing Date: 01/09/2000 Construction and operation of hotels and other tourist facilities. Low Dispersion and Specific Features Travel & Leisure Hotels PRESD - GEKE SA (CB) - GRS KIFISIAS AVE. 43 Postal Code:11523 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) president@president.gr GEN. COMMERCIAL & IND. Foundation Year: 1974 Listing Date: 24/07/1990 General trading and import/export of industrial tools, hydraulic equipment etc. Medium and Small Capitalisation Industrial Goods & Services Industrial Suppliers GEBKA - GEN. COMMERCIAL & IND.SA (CR) - GRS TH KM, ATHENS-CORINTHOU NATIONAL ROAD - Postal Code:19300 ASPROPYRGOS Telephone: (+30)-(210) , Fax: (+30)-(210) Th.Konidaris@geb.gr Page 177

179 GENERAL BANK OF GREECE S.A. Foundation Year: 1937 Listing Date: 26/01/1963 Banking operations of all types. Big Capitalisation Banks Banks TGEN - GΕΝΙΚΙ ΒΑΝΚ (CR) - GRS , MESOGEION AVE. Postal Code:10911 ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) genbkinv@otenet.gr GR. SARANTIS S.A. Foundation Year: 1964 Listing Date: 04/07/1994 Formulation and supply of cosmetics products. Big Capitalisation Personal & Household Goods Personal Products SAR - GR. SARANTIS SA (CR) - GRS MAROUSSI-HALANDRIOU AVE. 26 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) epappa@sarantis.gr Page 178

180 GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A. Foundation Year: 2001 Listing Date: 25/04/2001 Production, operation, management and marketing of PROPO, LOTTO, PROPOGOL, JOKER, BINGO and other games. Big Capitalisation Travel & Leisure Gambling OPAP - OPAP (CR) - GRS KIFISSOU 62 Postal Code:12132 PERISTERI Telephone: (+30)-(210) Fax: (+30)-(210) metopap@otenet.gr GREGORY'S MIKROGEVMATA S.A. Foundation Year: 1991 Listing Date: 13/06/2000 Operator of a fast-food chain. Producer of snacks. Under Suspension Food & Beverage Food Products GRIGO - GREGORY'S SA (CR) - GRS ARCHAIOU THEATROU STR. 8 Postal Code:17456 ALIMOS Telephone: (+30)-(210) Fax: (+30)-(210) anker@gregorys.gr Page 179

181 HALKOR S.A (FORMER VECTOR) Foundation Year: 1977 Listing Date: 27/12/1996 Manufacture and processing of, and trade in, aluminium sheet and related products. Participation in other companies of the sector. Big Capitalisation Basic Resources Nonferrous Metals XAKO - HALKOR SA (CB) - GRS PYRGOS ATHINON-KTIRIO B, MESOGEION AVE. 2-4 Postal Code:17778 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) tpanag@halcor.vionet.gr HATZIOANNOU ANONYME INDUSTRIAL & COMMERCIAL COMPANY, TIGHTS, SOCKS, UNDERWEAR, YARN, FABRIC, TEXTILE Foundation Year: 1967 Listing Date: 31/12/1991 Holding shares in companies which operate in the clothing industry, offering them services, developing new services and handling the brand names of the Group. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories HATZK - XATZIOANNOU (CR) - GRS HATZP - XATZIOANNOU (PR) - GRS SYROU-ANTHOUSA ATTIKIS 1 Postal Code: ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) gpapiotis@hatzi.gr Page 180

182 HELLAS ONLINE S.A. Foundation Year: 1990 Listing Date: 30/04/2001 Installation of electronic communications networks, provision of electronic communications networks and services, design - development - production of high technology hardware and software. Medium and Small Capitalisation Technology Software HOL - HELLAS ONLINE SA (CR) - GRS ADRIANEIOU 2 & PAPADA Postal Code:11525 ATHENS Telephone: (+30)-(213) Fax: (+30)-(213) ir@hol.net HELLENIC FABRICS S.A. Foundation Year: 1974 Listing Date: 25/10/1994 Production and processing of fabrics, including denim products, and yarns; also trade in textile products. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories ELYF - HELLENIC FABRICS SA (CR) - GRS KOMNINON STR. 26 Postal Code:54624 THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) hf-ase@hellenicfabrics.gr Page 181

183 HELLENIC CABLES S.A. Foundation Year: Listing Date: 16/11/1994 Manufacture of power cables and insulated copper wire. Medium and Small Capitalisation Industrial Goods & Services Electrical Components & Equipment ELKA - HELLENIC CABLES SA (CR) - GRS TH KM OLD NAT. RD ATHINON-THIVAS Postal Code: THIVE Telephone: (+30)-(22620)-86616, (22620) Fax: (+30)-(22620) ezisop@cablel.vionet.gr HELLENIC DUTY FREE SHOPS S.A. Foundation Year: 1979 Listing Date: 30/03/1998 Operation of duty free shops. Medium and Small Capitalisation Retail Specialty Retailers HDF - HELL. DUTY FREE SHOPS SA (CR) - GRS TH KM ATHINON-LAMIAS NATIONAL ROAD Postal Code:14565AGIOS STEFANOS Telephone: (+30)-(210) Fax: (+30)-(210) ir@dutyfreeshops.gr Page 182

184 HELLENIC EXCHANGES S.A. HOLDING CLEARING SETTLEMENT AND REGISTRY Foundation Year: 2000 Listing Date: 21/08/2000 Holding company of the Athens Stock Exchange and of other companies involved in support of capital market activities. Big Capitalisation Financial Services Investment Services EXAE - HELLENIC EXCHANGES (CR) - GRS ATHINON AVENUE 110 Postal Code:10442 ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) Investor-Relations@helex.gr HELLENIC FISHFARMING S.A. Foundation Year: 1987 Listing Date: 18/08/2000 Fish farming. Under Supervision Food & Beverage Farming & Fishing ELFIS - HELLENIC FISHFARMING SA (CR) - GRS PENTELIS AVE. 48 Postal Code:15235 VRILISSIA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) vdakos@helfish.gr Page 183

185 HELLENIC PETROLEUM S.A. Foundation Year: 1975 Listing Date: 30/06/1998 Oil refinery and distributor of petroleum and petrochemical products. Also oil exploration and other hydrocarbons-related activities. Big Capitalisation Oil & Gas Integrated Oil & Gas ELPE - HELLENIC PETROLEUM (CR) - GRS TH KM NATIONAL ROAD ATHENS - CORINTH - Postal Code:19300 ASPROPYRGOS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) info@hellenic-petroleum.gr HELLENIC SUGAR INDUSTRY S.A. Foundation Year: 1962 Listing Date: 30/08/1993 Production and supply of molasses and sugar-beet. Also manufacturing electro-mechanical equipment. Medium and Small Capitalisation Food & Beverage Food Products HSI - HEL. SUGAR INDUSTRY SA (CB) - GRS MITROPOLEOS STR. 34 Postal Code:54110 THESSALONIKI Telephone: (+30)-(2310) , (2310) Fax: (+30)-(2310) , (2310) shares@ebz.gr Page 184

186 HELLENIC TELECOM. ORG. Foundation Year: 1949 Listing Date: 19/04/1996 Operation, management and development of the national telecommunications system. Big Capitalisation Telecommunications Fixed Line Telecommunications HTO - OTE (CR) - GRS KIFISIAS AVE. 99 Postal Code:15124 MAROUSI Telephone: (+30)-(80011)-30003, (210) Fax: (+30)-(210) iroffice@ote.gr HERACLES GENERAL CEMENT COMPANY S.A. Foundation Year: 1911 Listing Date: 06/06/1919 Production of, and trade in cement and related products. Operation of mines. Low Dispersion and Specific Features Construction & Materials Building Materials & Fixtures HRAK - HERACLES GEN.CEMENT CO. (CR) - GRS ,S. VENIZELOU STR. Postal Code:14123 LYCOVRISI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) info@aget.gr Page 185

187 HIPPOTOUR S.A. Foundation Year: 1924 Listing Date: 01/08/1939 Breeding and racing of horses. Mushroom production. Under Supervision Food & Beverage Farming & Fishing IPPOK - IPPOTOUR SA (CΒ) - GRS KALLIROIS STR. 103 Postal Code: ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) arkolakisd@ippotour.gr HITECH SNT S.A. Foundation Year: Listing Date: 04/09/2002 Under Suspension Technology Software HIT - HITECH SNT S.A. (CR) - GRS KILKIS & METRON STR. 5 Postal Code: NEA IONIA Telephone: (+30)-(210) Fax: (+30)-(210) Page 186

188 I. KLOUKINAS - I. LAPPAS S.A. CONSTRUCTION AND COMMERCIAL COMPANY Foundation Year: 1986 Listing Date: 16/02/2004 a) The undertaking and execution of all technical projects, subcontracting or not b) The undertaking and elaboration of architectural, statical, mechanical, electrical and the overall technical studies, as well as the relevant supervisions c) The construction of multistorey buildings on privately owned or third parties properties d) The purchase, resale and operating of properties e) The take over of domestic or foreign agencies, commercial or technical firms f) The trading of construction materials, materials, tools and machines of domestic or foreign origin, in whichever patern g) The participation in companies of whichever legal entity (Unlimited co, Limited liability co, Societe Anonyme etc) and whichever company structure, as well as the participation and cooperation in other companies (joint venture or not) or companies existing or established domestic or abroad that aim at the same or similar scope as that of the company Big Capitalisation Construction & Materials Heavy Construction KLM - KLOUKINAS - LAPPAS SA (CR) - GRS PASTER STR. 3 Postal Code:11521 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) mprintsiou@klmate.gr IASO S.A. Foundation Year: 1976 Listing Date: 09/06/2000 Hospital and health services. Medium and Small Capitalisation Health Care Health Care Providers IASO - IASO SA (CR) - GRS KIFISIAS AVE Postal Code:15123 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) metoxes@iaso.gr Page 187

189 IDEAL GROUP S.A. Foundation Year: 1972 Listing Date: 09/08/1990 Holding and management company. Under Supervision Technology Electronic Office Equipment INTEK - IDEAL GROUP SA (CR) - GRS INTEP - IDEAL GROUP SA (PR) - GRS KREONTOS STR. 25 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) investor@ideal.gr IKONA - IHOS S.A. Foundation Year: 1987 Listing Date: 11/05/2000 Retailing (and servicing) of televisions, sound reproduction equipment, computers and other household electrical devices. Low Dispersion and Specific Features Retail Specialty Retailers IKONA - IKONA - IHOS SA (CR) - GRS SYMEONIDI STR 57 Postal Code: THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) xaa@e-h.gr Page 188

190 IKTINOS HELLAS S.A.- GREEK MARBLE INDUSTRY Foundation Year: 1974 Listing Date: 15/03/2000 Mining of marble and granite. Medium and Small Capitalisation Construction & Materials Building Materials & Fixtures IKTIN - IKTINOS HELLAS SA (CR) - GRS LYCOVRISEOS STR. 7 Postal Code:14452 METAMORFOSI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) info@iktinos.gr ILYDA SA Foundation Year: 1992 Listing Date: 26/02/2004 ΤΟ PLAN DEVELOP, SELL AND EXPLOIT COMPUTER SOFTWARE EITHER STANDARDIZES OR MADE TO ORDER.TO CONSULT AND GIVE THEIR EXPERTISE TO COMPANIES CORPORATIONS AND OTHER PUBLIC OR PRIVATE ORGANIZATIONS ON MATTERS RELATED TO TH APPLICATION AND PROPER USE OF THE COMPUTER SCIENCE. Medium and Small Capitalisation Technology Software ILYDA - ILYDA S.A. (CR) - GRS ADRIANEIOU STR. 29 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) sfrag@ilyda.com Page 189

191 IMAKO MEDIA S.A. Foundation Year: 1995 Listing Date: 21/03/2000 Publisher of books, magazines and other publications. Low Dispersion and Specific Features Media Publishing IMAKO - IMAKO MEDIA SA (CR) - GRS MARINOU ANTYPA STR Postal Code:14121 N. HERAKLEION Telephone: (+30)-(210) Fax: (+30)-(210) pchatzipetrou@imako.gr IMPERIO ARGO GROUP S.A. Foundation Year: 1990 Listing Date: 19/08/1996 Freight forwarding and related activities, including storage, packaging, customs clearance and insuring of goods. Medium and Small Capitalisation Industrial Goods & Services Transportation Services IMPE - IMPERIO SA (CR) - GRS MAVROKORDATOU STR Postal Code: PIRAEUS Telephone: (+30)-(210) Fax: (+30)-(210) info@imperio.gr Page 190

192 Info-Quest S.A. Foundation Year: 1981 Listing Date: 17/12/1998 Computer and information technology systems development, systems integration and related services. Big Capitalisation Technology Computer Services QUEST - Info-Quest SA (CR) - GRS AL. PANTOU STR. 25 Postal Code:17671 KALLITHEA Telephone: (+30)-(211) , (210) Fax: (+30)-(211) INFORM P. LYKOS S.A. anakin@quest.gr Foundation Year: 1981 Listing Date: 25/07/1994 Printed information systems. Medium and Small Capitalisation Industrial Goods & Services Business Support Services LYK - INFORM P. LYKOS SA (CR) - GRS TH KM, VARIS-KOROPIOU AVE. Postal Code:19400 KOROPI Telephone: (+30)-(210) Fax: (+30)-(210) ir@lykos.gr Page 191

193 INFORMER S.A. Foundation Year: 1983 Listing Date: 02/05/2000 Computer software developer and supplier. Low Dispersion and Specific Features Technology Computer Services INFO - INFORMER SA (CR) - GRS SYNGROU AVE. & AFTOKRATOROS NIKOLAOU STR. 4 Postal Code:17671 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) stocks@informer.gr INTERFISH AQUACULTURE SA Foundation Year: Listing Date: 30/07/2003 Production, feeding of fries and sea food, establishment of aquaculture units, trading of fishes and sea food, industrial procession of the above, production of fish food, research and development related to the above Medium and Small Capitalisation Food & Beverage Farming & Fishing INTERFISH - INTERFISH S.A. (CR) - GRS Telephone: Fax: Page 192

194 INTERINVEST INTERNATIONAL INVESTMENT S.A. Foundation Year: 1991 Listing Date: 15/01/1992 Investment portfolio management for Greek and foreign securities. Medium and Small Capitalisation Financial Services Equity Investment Instruments IDER - INTERINVEST INT. INV. SA (CR) - GRS VOUKOURESTIOU STR. 28 Postal Code:10671 ATHENS Telephone: (+30)-(210) /-3/-5 Fax: (+30)-(210) sakellaridis@interinvest.gr INTERTECH S.A. INTER. TECHNOLOGIES Foundation Year: 1988 Listing Date: 09/10/1995 Import of electrical products and computer software. Medium and Small Capitalisation Technology Computer Hardware INTET - INTERTECH SA (CR) - GRS AFRODITIS & RIZOUNTOS STR. 24 Postal Code:16677 HELLINIKO Telephone: (+30)-(210) Fax: (+30)-(210) eofficer@intertech.gr Page 193

195 INTRACOM CONSTRUCTIONS S.A.TECHN & STEEL CONSTRUCTIONS Foundation Year: 1987 Listing Date: 30/11/2001 Planning, Construction Supervision of puplic and private technical projects: buildings, civil works, net projects, mechanical / electrical works, telecommunication projects. Medium and Small Capitalisation Construction & Materials Heavy Construction INKAT - INTRACOM CONSTR. (CR) - GRS TH KM. PAIANIAS - MARKOPOULOU AV. - Postal Code:19002 PAIANIA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) ir@intrakat.gr, info@intrakat.gr INTRACOM S.A. HOLDINGS Foundation Year: 1977 Listing Date: 28/06/1990 INTRACOM HOLDINGS Group ς main activities are in telecommunications systems, e-government, banking and enterprise IT systems, defense electronics, fixed telephony and internet access services, and constuction. Big Capitalisation Technology Telecommunications Equipment INTRK - INTRACOM HOLDINGS (CR) - GRS ΤΗ KM, NEAS ODOU PAIANIAS - MARKOPOULOU - Postal Code:19002 PAIANIA Telephone: (+30)-(210) Fax: (+30)-(210) , (210) intracom@intracom.gr Page 194

196 INTRALOT S.A.- INTEGRATED LOTTERY SYSTEMS & SERVICES Foundation Year: 1992 Listing Date: 03/11/1999 Development and supply of computer hardware and software. Operation, management and marketing of the " Lotto" lottery. Big Capitalisation Travel & Leisure Gambling INLOT - INTRALOT (CR) - GRS KIFISIAS AVE. & PREMETIS 64 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) info@intralot.com IONIAN HOTEL ENT. Foundation Year: 1957 Listing Date: 16/05/1988 Hotel enterprises. Low Dispersion and Specific Features Travel & Leisure Hotels IOKA - IONIAN HOTELS SA (CR) - GRS FILELLINON STR. 6 Postal Code:10557 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) ionianhotels@alpha.gr # Page 195

197 J. & P. - AVAX S.A. Foundation Year: 1986 Listing Date: 24/08/1994 Civil engineering contractor undertaking private and public sector projects; specialising in power plants, roads, harbours and other infrastructure projects. Big Capitalisation Construction & Materials Heavy Construction AVAX - J & P - AVAX SA (CR) - GRS AMAROUSIOU-HALANDRIOU STR. 16 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) investor_ relations@jp-avax.gr J.BOUTARIS & SON HOLDING S.A. Foundation Year: 1879 Listing Date: 01/11/1987 Holding company. Low Dispersion and Specific Features Food & Beverage Distillers & Vintners MPK - J.BOUTARIS & SON HOLD. SA (CB) - GRS MPP - J.BOUTARIS & SON HOLD. (PB) - GRS NEW MONASTIRIOU STR. 134 Postal Code: THESSALONIKI Telephone: (+30)-(2310) , (210) Fax: (+30)-(2310) , (210) cleopatra.christou@boytarigroup.gr Page 196

198 JUMBO S.A. Foundation Year: 1986 Listing Date: 19/06/1997 Production of, and trading in, toys, prams and other children's accessories including clothing. Big Capitalisation Personal & Household Goods Toys BELA - JUMBO SA (CR) - GRS KYPROU & HYDRAS STR. 9 Postal Code:18346 MOSCHATO Telephone: (+30)-(210) Fax: (+30)-(210) metohon@jumbo.gr KARAMOLENGOS BAKERY INDUSTRY S.A. Foundation Year: 1989 Listing Date: 07/01/1999 Bakery and supplier of pastry products. Medium and Small Capitalisation Food & Beverage Food Products KMOL - KARAMOLEGOS SA (CR) - GRS TZIMA, KOROPI INDUSTRIAL AREA Postal Code:19400 KOROPI Telephone: (+30)-(210) Fax: (+30)-(210) karamolegos@ath.forthnet.gr Page 197

199 KARATZIS S.A. Foundation Year: 1979 Listing Date: 04/09/2000 Operation of hotels. Also involved in supply of plastic packaging materials. Medium and Small Capitalisation Industrial Goods & Services Containers & Packaging KARTZ - KARATZIS SA (CR) - GRS IND.AREA HERAKLEION, P.O. BOX Postal Code:71110 HERAKLEION - CRETE Telephone: (+30)-(2810) Fax: (+30)-(2810) hermes@karatzis.gr KARELIA TOBACCO COMPANY INC. S.A. Foundation Year: 1888 Listing Date: 23/02/1976 Production and trading of tobacco products. Low Dispersion and Specific Features Personal & Household Goods Tobacco KARE - KARELIA TOBACCO CO. SA (CB) - GRS ATHINON RD Postal Code:24100 KALAMATA Telephone: (+30)-(27210) Fax: (+30)-(27210) info@karelia.gr Page 198

200 KATHIMERINI PUBLISHING SA Foundation Year: 1988 Listing Date: 07/03/2000 Newspaper, magazine and book publisher. Big Capitalisation Media Publishing KATHI - KATHIMERINI SA (CR) - GRS DIM. FALIREOS & ETHNARCHOU MAKARIOU STR. 2 Postal Code:18547 PIRAEUS Telephone: (+30)-(210) Fax: (+30)-(210) logistirio@kathimerini.gr KATSELIS SONS S.A. BREAD IND. Foundation Year: 1978 Listing Date: 19/11/1990 Bakery and producer of confectionary and foodstuffs.` Medium and Small Capitalisation Food & Beverage Food Products KATSK - KATSELIS SONS SA (CR) - GRS THESI LOUTRO STR. - Postal Code:13671 ACHARNAI Telephone: (+30)-(210) Fax: (+30)-(210) info@katselis.gr Page 199

201 KEKROPS S.A. Foundation Year: 1923 Listing Date: 13/07/1967 Land development; operation of quarries. Low Dispersion and Specific Features Real Estate Real Estate Holding & Development KEKR - KEKROPS SA (CR) - GRS DAFNIS STR. 6 Postal Code:15452 PSYCHIKO Telephone: (+30)-(210) , (210) Fax: (+30)-(210) kekropsae@otenet.gr KERAMICS ALLATINI S.A. Foundation Year: 1964 Listing Date: 30/08/1965 Manufacture of clay tiles and bricks; also acid-resistant piping products for sewage and industrial use. Under Supervision Construction & Materials Building Materials & Fixtures KERAL - CERAMICS ALLATINI SA (CR) - GRS P.O. BOX 10076, TERMA HARILAOU - Postal Code:54110 THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) info@ceramics-allatini.gr Page 200

202 KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A. Foundation Year: 1986 Listing Date: 10/04/1998 Exploitation of professional tourist sailing yachts. Medium and Small Capitalisation Travel & Leisure Travel & Tourism KYRI - KIRIAKOULIS SHIPPING SA (CR) - GRS ALIMOU AVE 7 Postal Code:17455 ALIMOS Telephone: (+30)-(210) /-91 Fax: (+30)-(210) charter@kiriacoulis.com KLEEMANN HELLAS S.A. Foundation Year: 1983 Listing Date: 05/04/1999 Supply and installation of passenger lifts and related components. Medium and Small Capitalisation Industrial Goods & Services Industrial Machinery KLEM - KLEEMAN HELLAS SA (CR) - GRS INDUSTRIAL ZONE KILKIS - Postal Code:61100 STAVROCHORI Telephone: (+30)-(23410) Fax: (+30)-(23410) marketing@kleemann.gr Page 201

203 KLONATEX GROUP OF COMPANIES S.A. Foundation Year: Listing Date: 02/03/1973 Holding company whose principal investments are in textiles and shipping companies. Under Supervision Personal & Household Goods Clothing & Accessories KLONK - KLONATEX SA (CR) - GRS KLONP - KLONATEX SA (PR) - GRS POSEIDONOS 23 Postal Code: METAMORFOSI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) investors@klonatex.com. KNITWEAR FACTORY MAXIM C.M. PERTSINIDIS Foundation Year: 1987 Listing Date: 31/05/1995 Dyeing, finishing and printing of woollen fabrics and knitwear. Low Dispersion and Specific Features Personal & Household Goods Clothing & Accessories MAXIM - MAXIM C.M. PERTSINIDIS SA (CB) - GRS TH KM, THESSALONIKI-SERRES NAT. ROAD, P.O. BOX Postal Code:54012 DRYMOS Telephone: (+30)-(23940)-72102/-3, (23940) Fax: (+30)-(23940) maxim@dataunion.gr Page 202

204 KORDELLOS CH. BROS S.A. Foundation Year: 1984 Listing Date: 26/05/2000 Trade in, and supply of, steel sheet and related steel products. Medium and Small Capitalisation Basic Resources Steel KORDE - KORDELLOS BROS SA (CB) - GRS , LOUTSAS & PELOPONNISOU STR. Postal Code:19600 MANDRA Telephone: (+30)-(210) Fax: (+30)-(210) kordelos@otenet.gr KOYMBAS SYNERGY GROUP Foundation Year: 1977 Listing Date: 21/03/1996 Holding company Under Supervision Financial Services Specialty Finance KOUM - KOYMBAS SYNERGY GROUP (CR) - GRS KIFISIAS AVE. & MARATHONODROMON STR. 100 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) koumbas@koumbas.g Page 203

205 KRE.KA S.A. Foundation Year: Listing Date: 05/12/1994 Meat supplier and trader. Medium and Small Capitalisation Food & Beverage Farming & Fishing KREKA - KRE.KA SA (CR) - GRS AMYNTA STR. 13 Postal Code:65302 KAVALA Telephone: (+30)-(2510) Fax: (+30)-(2510) , (2510) kreka@otenet.gr KRETA FARM SA Foundation Year: 1995 Listing Date: 03/04/2000 Meat supplier and trader. Supplier of delicatessen products. Medium and Small Capitalisation Food & Beverage Food Products CRETA - ΚRETA FARM SA (CR) - GRS RETHYMNO Postal Code:74100 RETHYMNO Telephone: (+30)-(28310)-58026, (210) Fax: (+30)-(28310)-58035, (210) investors@cretafarm.gr Page 204

206 KRI-KRI MILK INDUSTRY SA Foundation Year: Listing Date: 06/08/2003 Production of various types of ice-cream, trading of ice-cream in Greece and abroad. Productrion and trading of yogurt Medium and Small Capitalisation Food & Beverage Food Products KRI - KRI-KRI S.A. (CR) - GRS RD KM SERRON-DRAMAS RD Postal Code: SERRES Telephone: (+30)-(23210) Fax: (+30)-(23210) investors@krikri.gr KTIMA KOSTAS LAZARIDIS S.A. Foundation Year: 1992 Listing Date: 14/01/2000 Vineyard and wine producer. Medium and Small Capitalisation Food & Beverage Distillers & Vintners KTILA - KTIMA KOSTAS LAZARIDIS SA (CR) - GRS ADRIANI DRAMA, P.O. BOX Postal Code:66100 DRAMA Telephone: (+30)-(25210)-82231, (25210) Fax: (+30)-(25210) amethystos@otenet.gr Page 205

207 LAMBRAKIS PRESS Foundation Year: 1970 Listing Date: 06/11/1998 Newspaper and magazine publisher (including Vima, Nea, Oik. Tahydromos). Also involved in tourism services. Big Capitalisation Media Publishing DOL - DOL SA (CR) - GRS MICHALAKOPOULOU STR. 80 Postal Code:11528 ATHENS Telephone: (+30)-(211) , (211) Fax: (+30)-(211) , (211) dolase@dolnet.gr LAMDA DEVELOPMENT S.A. Foundation Year: 1977 Listing Date: 25/09/1995 LAMDA Development is involved in Real Estate development, investment and management primarily in Greece, but also in South Eastern Europe. The Company's investment portfolio includes shopping and leisure centers ( sq.m GLA), office buildings, large residential complexes and Flisvos Marina. LAMDA Development is also involved into PPPs (Public Private Partnerships). Big Capitalisation Real Estate Real Estate Holding & Development LAMDA - LAMDA DEVELOPMENT SA (CR) - GRS A,KIFISIAS AVE. Postal Code: MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) lamda@lamda-development.net Page 206

208 LAMPSA HOTEL CO. Foundation Year: 1919 Listing Date: 12/05/1947 Hotel enterprises. Low Dispersion and Specific Features Travel & Leisure Hotels LAMPS - LAMPSA HOTEL SA (CR) - GRS VAS.GEORGIOU STR.,HOTEL GRANDE BRETAGNE 1Α Postal Code:10564 ATHENS Telephone: (+30)-(210) , (210) /-1 Fax: (+30)-(210) info@hotelgrandebretagne-ath.gr LANAKAM S.A. Foundation Year: Listing Date: 27/03/1974 Production of, and and trade in, woollen yarns and blends. Low Dispersion and Specific Features Personal & Household Goods Clothing & Accessories LANAC - LANAKAM SA (CR) - GRS MESOGEION AVE. 2-4 Postal Code:11527 ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) lanakam@otenet.gr Page 207

209 LAN-NET S.A. Foundation Year: 1976 Listing Date: 18/02/1998 Textile bleaching, dyeing, printing and finishing. Under Suspension Telecommunications Fixed Line Telecommunications LANNET - LAN-NET (CR) - GRS KONSTANTINOUPOLEOS & KIFISOU AVE. 1 Postal Code:12132 PERISTERI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) investors@lannet.gr LAVIPHARM S.A. Foundation Year: 1975 Listing Date: 08/11/1995 Manufacture and import of pharmaceuticals and veterinary products and related research and development activities. Big Capitalisation Health Care Pharmaceuticals LAVI - LAVIPHARM SA (CR) - GRS AG. MARINA STR. - Postal Code:19002 PAIANIA Telephone: (+30)-(210) Fax: (+30)-(210) knikol@lavipharm.gr Page 208

210 LIBERIS PUBLICATIONS S.A. Foundation Year: 1986 Listing Date: 09/02/2000 Publisher of books and magazines. Low Dispersion and Specific Features Media Publishing LIBE - LIBERIS PUBLICATIONS SA (CR) - GRS IOANNOY METAXA STR. 80 Postal Code: KOROPI Telephone: (+30)-(210) Fax: (+30)-(210) , (210) karpouzaki@liberis.gr Light Metals Industry Foundation Year: 1976 Listing Date: 09/06/1994 Production and processing of aluminium products; holdings in companies of the sector. Medium and Small Capitalisation Basic Resources Aluminum ETEM - ETEM SA (CB) - GRS IROON POLYTECHNIOU 1 Postal Code:19018 MAGOULA Telephone: (+30)-(210) Fax: (+30)-(210) ampafa@etem.vionet.gr Page 209

211 LIVANIS PUBLICATIONS SA Foundation Year: Listing Date: 26/07/2002 Printing, bookbinding, book publications and any type of printed matter, books trading. Multimedia and software development and production Medium and Small Capitalisation Media Publishing LIVAN - LIVANIS SA (CR) - GRS SOLONOS STR. 98 Postal Code:10680 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) Logismos INFORMATION SYSTEMS S.A. Foundation Year: 1993 Listing Date: 14/03/2003 Intergrator of information systems. Medium and Small Capitalisation Technology Computer Services LOGISMOS - LOGISMOS S.A. (CR) - GRS IONOS DRAGOUMI STR. 5 Postal Code:54625 THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) seitanidis@logismos.gr Page 210

212 LOULIS MILLS S.A. Foundation Year: 1927 Listing Date: 24/10/1951 Production and trading of flour and related products. Medium and Small Capitalisation Food & Beverage Food Products KYLO - LOULIS MILLS SA (CR) - GRS SPETSON STR. 1 Postal Code:18755 KERATSINION Telephone: (+30)-(210) Fax: (+30)-(210) loulisathens@loulisgroup.com M. J. MAILLIS S.A. Foundation Year: 1968 Listing Date: 16/06/1994 Producer of steel- and plastic-strapping, and other packing materials. Also supplier of packaging machines. Under Supervision Industrial Goods & Services Containers & Packaging MAIK - M.J. MAILLIS SA (CR) - GRS XENIAS & CHARILAOU TRIKOUPI 5 Postal Code: KIFISSIA Telephone: (+30)-(210) Fax: (+30)-(210) investor.relations@maillis.gr Page 211

213 MARAC ELECTRONICS S.A Foundation Year: Listing Date: 14/10/2003 a) The trade of electronic instruments in general, systems, devices/appliances and their full or partial manufacture, their installation, maintenance and repair especially the trade of equipment used for vessels b) The trade, manufacture in full or partially, installation, maintenance or repair of electronic telephone systems, computers and telecommunication - informatics media c) The execution of any other activity related to the above for the accomplishment of its scope Medium and Small Capitalisation Technology Telecommunications Equipment MARAC - MARAC ELECTRONICS (CR) - GRS DIMOKRATIAS AVE. 455 Postal Code:18863 PIRAEUS Telephone: (+30)-(210) Fax: (+30)-(210) info@marac.gr MARFIN EGNATIA BANK S.A. Foundation Year: 1936 Listing Date: 17/07/1991 Banking operations of all types. Low Dispersion and Specific Features Banks Banks EGNAK - MARFIN EGNATIA BANK (CR) - GRS EGNAP - EGNATIA BANK SA (PR) - GRS ZEFYROU STR. 56 Postal Code:17564 FALIRO Telephone: (+30)-(210) Fax: (+30)-(210) Page 212

214 MARFIN INVESTMENT GROUP HOLDINGS SA Foundation Year: 1988 Listing Date: 02/02/1994 To participate in companies and businesses of any form, to establish, govern and manage companies and businesses with any object and under any legal form, to invest in liquid assets and other financial securities and generally to engage in any other similar or comparable activities. Big Capitalisation Financial Services Specialty Finance MIG - MARFIN INVESTMENT GROUP (CR) - GRS KIFISIAS AVE. 24 Postal Code:15125 MAROUSI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) info@marfingroup.gr MARITIME COMPANY OF LESVOS S.A. Foundation Year: 1972 Listing Date: 28/08/1995 Ferry operator on domestic (principally Lesvos-Piraeus) and foreign routes; also involved in related tourism activities. Under Suspension Travel & Leisure Travel & Tourism NEL - NEL SA (CR) - GRS EL. VENIZELOU STR. 5 Postal Code:81100 MYTILINI Telephone: (+30)-(22510)-26212, (22510) Fax: (+30)-(22510)-20251, (22510) ir@nel.gr Page 213

215 MATHIOS REFRACTORY S.A. Foundation Year: 1986 Listing Date: 17/03/2000 Production of, and trade in, ceramic products. Medium and Small Capitalisation Construction & Materials Building Materials & Fixtures MATHIO - MATHIOS REFRACTORY SA (CR) - GRS EPIDAVROU STR. 5 Postal Code:18233 PIRAEUS Telephone: (+30)-(210) Fax: (+30)-(210) a.manolaki@mathios.gr MEDICON HELLAS S.A Foundation Year: 1988 Listing Date: 11/07/2001 Supply of medical equipment, including analytical laboratory equipment and diagnostic reagents. Low Dispersion and Specific Features Health Care Medical Equipment MEDIC - MEDICON S.A (CR) - GRS MELITONA STR. 5-7 Postal Code: GERAKAS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) staboulis@mediconsa.com Page 214

216 MESOCHORITI BROS CORPORATION Foundation Year: 1986 Listing Date: 10/08/1994 Construction Company. Under Suspension Construction & Materials Heavy Construction MESOCH - MESOCHORITI BROS SA (CR) - GRS STRATIGOU KAKAVOU STR. 3 Postal Code:54641 THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) mesohori@spark.net.gr METKA S.A. Foundation Year: 1962 Listing Date: 09/02/1973 Mechanical engineering contractor specializing in large electro-mechanical projects. Big Capitalisation Industrial Goods & Services Industrial Machinery METKK - METKA (CR) - GRS MARINOU ANTYPA STR. 11 Postal Code:14121 N. HERAKLEION Telephone: (+30)-(210) Fax: (+30)-(210) info@metka.gr Page 215

217 MEVACO S.A. Foundation Year: 1993 Listing Date: 01/03/1999 Production of steel and aluminium sheet and similar metal and plastic products. Medium and Small Capitalisation Industrial Goods & Services Industrial Machinery MEVA - MEVACO SA (CR) - GRS PRARI - MOUSTAKI (NATO AVE.) - Postal Code:19300 ASPROPYRGOS Telephone: (+30)-(210) /-31 Fax: (+30)-(210) , (210) info@metka.gr MICHANIKI S.A. Foundation Year: 1974 Listing Date: 19/07/1990 Civil engineering contractor undertaking private and public sector projects. Big Capitalisation Construction & Materials Heavy Construction MHXAK - MICHANIKI SA (CR) - GRS MHXAP - MICHANIKI SA (PR) - GRS MEG. ALEXANDROU STR. 91 Postal Code:15124 MAROUSI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) melina@michaniki.gr Page 216

218 MICROLAND COMPUTERS S.A. Foundation Year: 1992 Listing Date: 24/12/1999 Production and retailing of computer and mobile telephony equipment; provider of related services. Under Supervision Retail Specialty Retailers MLAND - MICROLAND COMPUTERS SA (CR) - GRS PATMOY 12 Postal Code: MAROUSI Telephone: (+30)-(211) Fax: (+30)-(211) ir@altecgroup.gr "MINERVA" KNITWEAR S.A. Foundation Year: 1974 Listing Date: 20/04/1995 Processing of, and trade in, woollen and cotton products, and other textile raw materials. Clothing manufacture. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories MIN - MINERVA KNITWEAR SA (CB) - GRS FRAGON STR. 13 Postal Code:54626 THESSALONIKI Telephone: (+30)-(2310) , (2310) Fax: (+30)-(2310) e-avrami@minerva.gr Page 217

219 MINOAN LINES SA Foundation Year: 1972 Listing Date: 05/05/1998 Passenger and freight shipping operations in both Greek and international waters. Also participation in companies with related activities, such as hotels and transport. Future expansion plans encompass tourism and commerce sectors. Big Capitalisation Travel & Leisure Travel & Tourism MINOA - MINOAN LINES SA (CR) - GRS TH AUGUST STR. 17 Postal Code:72202 HERAKLEION - CRETE Telephone: (+30)-(2810) Fax: (+30)-(2810) ir@minoan.gr MLS MULTIMEDIA S.A. Foundation Year: 1995 Listing Date: 13/06/2001 Developer of computer software and multi-media systems. Medium and Small Capitalisation Technology Software MLS - MLS MULTIMEDIA SA (CR) - GRS NOVEMBER STR. 79 Postal Code: PYLAIA Telephone: (+30)-(2310) Fax: (+30)-(2310) mail@mls.gr Page 218

220 MOCHLOS S.A. Foundation Year: 1973 Listing Date: 08/08/1994 General contracting and construction company. Low Dispersion and Specific Features Construction & Materials Heavy Construction MOCHL - MOCHLOS SA (CR) - GRS SOLOMOU 20 Postal Code:17456 ALIMOS Telephone: (+30)-(210) Fax: (+30)-(210) mochlos@otenet.gr, mochlos@techol.gr MOTOR OIL (HELLAS) CORINTH REFINERIES SA Foundation Year: 1972 Listing Date: 06/08/2001 Oil refinery. Distribution of petroleum products. Big Capitalisation Oil & Gas Exploration & Production MOH - MOTOR OIL (CR) - GRS IRODOU ATTIKOU A STR. 12Α Postal Code:15124 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) info@moh.gr Page 219

221 MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COMPANY S.A. Foundation Year: 1993 Listing Date: 30/06/2005 The main object of the company is the import, export and distribution of vehicles and engines of any kind, as well as products related to the use and operation of the above. Medium and Small Capitalisation Retail Specialty Retailers MOTO - MOTODYNAMICS S.A. (CR) - GRS Thesi Kirillos Postal Code:19300 ASPROPYRGOS Telephone: (+30)-(210) Fax: (+30)-(210) yamahasupport@yamaha-motor.gr MULTIRAMA S.A. Foundation Year: 1957 Listing Date: 19/07/1972 Manufacture of, and trade in, textiles, including clothing, soft furnishings and related products. Under Supervision Retail Specialty Retailers MULT - MULTIRAMA SA (CR) - GRS RD KM, ATHENS-LAMIA NAT. ROAD - Postal Code:14565 AGIOS STEFANOS Telephone: (+30)-(210) Fax: (+30)-(210) i.karampelas@multirama.gr Page 220

222 MYTILINEOS HOLDINGS S.A. Foundation Year: 1990 Listing Date: 31/07/1995 International trade in ferrous and non-ferrous metals. Big Capitalisation Basic Resources Nonferrous Metals MYTIL - MYTILINEOS HOLDINGS (CR) - GRS PATROKLOU STR. 5-7 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) nikos.kontos@mytilineos.gr N. LEVENTERIS Foundation Year: 1948 Listing Date: 01/08/1972 Supply of ship equipment, manufacture of steel cable and other of maritime products. Medium and Small Capitalisation Basic Resources Steel LEBEK - N. LEVEDERIS SA (CB) - GRS LEBEP - N. LEVEDERIS SΑ (PB) - GRS ASKLIPIOU & MESOLONGIOU STR. 32 Postal Code:18545 PIRAEUS Telephone: (+30)-(210) Fax: (+30)-(210) levederi@otenet.gr Page 221

223 N. VARVERIS-MODA BAGNO S.A. Foundation Year: 1980 Listing Date: 17/04/2000 Retailing of plumbing fittings. Representation of other producers of these products. Medium and Small Capitalisation Construction & Materials Building Materials & Fixtures MODA - VARVERIS - MODA BAGNO SA (CR) - GRS ANAPAFSEOS STR. 50 Postal Code:15235 CHALANDRI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) info@modabagno.gr NAFPAKTOS TEXTILE INDUSTRY S.A. Foundation Year: Listing Date: 08/07/1996 Production of, and trade in, combed cotton yarns and fabrics for shirt manufacture and related activities. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories NAYP - NAFPAKTOS TEXTILE IND. SA (CB) - GRS AG. GEORGIOU STR Postal Code: PEFKI Telephone: (+30)-(210) Fax: (+30)-(210) investors@nafpaktos-yarns.gr Page 222

224 NATIONAL BANK OF GREECE S.A. Foundation Year: 1841 Listing Date: 22/02/1905 Banking operations of all types. Big Capitalisation Banks Banks ETE - NATIONAL BANK (CR) - GRS AIOLOU STR. 86 Postal Code:10232 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) papagrogoris.gr@nbg.gr NAYTEMPORIKI PUBLISHING S.A. Foundation Year: 1974 Listing Date: 08/03/2000 Publication of Naftemporiki newspaper and other publications. Medium and Small Capitalisation Media Publishing NAFT - NAYTEMPORIKI PUBLISHING SA(CR) - GRS LENORMAN STR. 205 Postal Code:10442 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) , (210) kren@naftemporiki.gr Page 223

225 NEORION HOLDINGS S.A. Foundation Year: 1994 Listing Date: 21/12/1999 Shipyard. Medium and Small Capitalisation Industrial Goods & Services Commercial Vehicles & Trucks NEORS - NEORION SA (CR) - GRS AKTI MIAOULI 67 Postal Code: PIRAEUS Telephone: (+30)-(210) Fax: (+30)-(210) ir@neorion-holdings.gr NEWSPHONE HELLAS S.A. AUDIOTEX Foundation Year: 1995 Listing Date: 27/01/2003 Telecomunacations, and spesialy in audiotex services (users or callers can contact with data basis, directly through recorded or on line paying higher fees. Medium and Small Capitalisation Industrial Goods & Services Business Support Services NEWS - NEWSPHONE HELLAS SA (CR) - GRS THISEOS ΑVE. 280 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) info@newsphone.gr Page 224

226 NEXANS HELLAS S.A. Foundation Year: 1973 Listing Date: 12/03/1990 Manufacture and supply of telecommunications cables and optical fibres. Medium and Small Capitalisation Technology Telecommunications Equipment ALKA - NEXANS HELLAS SA (CR) - GRS MESOGION AVE. 15 Postal Code:11526 ATHENS Telephone: (+30)-(211) , (210) Fax: (+30)-(211) shares.hellas@nexans.com NIREUS S.A. Foundation Year: 1988 Listing Date: 29/03/1995 Fish farming and processing of fresh, smoked and frozen fish. Big Capitalisation Food & Beverage Farming & Fishing NIR - NIREFS SA (CR) - GRS ST KM, VARIS-KOROPIOU AVE. Postal Code:19400 KOROPI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) irodpt@nireus.com Page 225

227 OLYMPIC CATERING S.A. Foundation Year: 1970 Listing Date: 09/06/1999 Catering services. The company provides services to Olympic Airways and other organisations. Low Dispersion and Specific Features Travel & Leisure Restaurants & Bars OLKAT - OLYMPIC CATERING SA (CR) - GRS ATHENS INTERNATIONAL AIRPORT "ELEFTHERIOS VENIZELOS", BUILDING 14 B, SPATA ATTIKIS Postal Code:19019 SPATA-LOYTSAS Telephone: (+30)-(210) Fax: (+30)-(210) oc@olympic-catering.gr OMEGA CLOSED ENDED INVESTMENT COMPANY Foundation Year: 1999 Listing Date: 31/07/2003 Securities portfolio management Low Dispersion and Specific Features Financial Services Equity Investment Instruments ASTRA - OMEGA S.A. (CR) - GRS CHAR. TRIKOUPI 1 Postal Code:17671 KALLITHEA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) info@omegaeex.gr Page 226

228 PAPERPACK - TSOUKARIDIS S.A. Foundation Year: 1996 Listing Date: 19/10/2000 Printing and processing of packaging materials. Low Dispersion and Specific Features Industrial Goods & Services Containers & Packaging TSOUK - PAPERPACK - TSOUKARIDIS SA(CR) - GRS MENEXEDON & BILTANIOTI STR. 24 Postal Code:14564 KIFISSIA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) nchal@paperpack.gr PARNASSOS ENTERPRISES S.A. Foundation Year: 1934 Listing Date: 09/06/1956 Holding Enterprises. Medium and Small Capitalisation Financial Services Specialty Finance PARN - PARNASSOS ENTERP. (CR) - GRS MESOGEION AVE Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) info@parnassos-sa.gr Page 227

229 PC SYSTEMS S.A. Foundation Year: 1987 Listing Date: 14/04/2000 Manufacture of electrical products (and their maintenance and repair). Development of information systems. Low Dispersion and Specific Features Technology Computer Services PSYST - PC SYSTEMS SA (CR) - GRS IOULIANOU 4 Postal Code: METAMORFOSI Telephone: (+30)-(210) Fax: (+30)-(210) diat@pcsystems.gr PEGASUS PUBLISHING S.A. Foundation Year: 1981 Listing Date: 27/03/2000 Publisher of books, magazines and newspapers. Medium and Small Capitalisation Media Publishing PEGAS - PEGASUS PUBLISHING S.A. (CR) - GRS EMMANOUEL BENAKI STR. 5 Postal Code:15238 CHALANDRI Telephone: (+30)-(210) Fax: (+30)-(210) Ipapandreou@grp.pegasus.gr Page 228

230 PERSEUS SPECIALTY FOODS S.A. Foundation Year: 1968 Listing Date: 22/07/1998 Manufacture and trade in chemical products. Under Supervision Food & Beverage Food Products PERS - PERSEUS SA (CR) - GRS THESI STANOTOPI, VOCHA KORINTHIAS Postal Code: ZEVGOLATIO Telephone: (+30) , Fax: (+30) , arouka@perseusgroup.gr PETROS PETROPOULOS S.A. Foundation Year: 1974 Listing Date: 01/12/1999 Supply of machinery for agricultural tractors and cars, including engines, generators and accessories. Medium and Small Capitalisation Industrial Goods & Services Commercial Vehicles & Trucks PETRO - PETROPOULOS PETROS (CR) - GRS IERA ODOS STR Postal Code:10447 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) ppaebe@petropoulos.com Page 229

231 PETZETAKIS S.A. Foundation Year: 1960 Listing Date: 29/08/1973 Production and trade in plastic and rubber products and related activities. Under Supervision Chemicals Specialty Chemicals PETZK - PETZETAKIS SA (CR) - GRS PETZP - PETZETAKIS SA (PR) - GRS KORYTSAS 5 Postal Code: GLYKA NERA Telephone: (+30)-(210) Fax: (+30)-(210) investor_relations@petzetakis.gr P.G. NIKAS S.A. Foundation Year: 1971 Listing Date: 22/04/1991 Production and trade of meat products. Low Dispersion and Specific Features Food & Beverage Food Products NIKAS - NIKAS SA (CR) - GRS ND KM, NAT. ROAD ATHENS-LAMIA - Postal Code:14565 AGIOS STEFANOS Telephone: (+30)-(210) Fax: (+30)-(210) ga@nikas.gr Page 230

232 PHILIPPOS NAKAS S.A. Foundation Year: 1980 Listing Date: 12/07/2000 Imports, representation and trading of music instruments. Printing of music books. Medium and Small Capitalisation Retail Specialty Retailers NAKAS - NAKAS MUSIC - GRS TH KM, LAVRIOU AVE. Postal Code: PAIANIA Telephone: (+30)-(210) Fax: (+30)-(210) stelios@nakas.gr PIPE WORKS L. GIRAKIAN PROFIL S.A. Foundation Year: 1967 Listing Date: 29/08/1990 Manufacture of steel pipes. Medium and Small Capitalisation Basic Resources Steel PROFK - GIRAKIAN PROFIL SA (CB) - GRS TH KM, ATHENS-LAMIA NAT. ROAD - Postal Code:32011 OINOFYTA Telephone: (+30)-(210) , (22620) Fax: (+30)-(210) , (22620) info@tzirakian.com, webmaster@tzirakian.com Page 231

233 PIRAEUS BANK S.A. Foundation Year: Listing Date: 17/01/1918 Banking operations of all types. Big Capitalisation Banks Banks TPEIR - PIRAEUS BANK (CR) - GRS AMERIKIS STR. 4 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) ZapantiM@piraeusbank.gr PIRAEUS PORT AUTHORITY SA Foundation Year: Listing Date: 08/08/2003 Ship Mooring services, cargo and passenger transport to and from the Port of Thessaloniki. Establishment, management and operating port infrastructure. Medium and Small Capitalisation Industrial Goods & Services Transportation Services PPA - P.P.A. S.A. (CR) - GRS AKTI MIAOULI KENTRIKOS LIMENAS PEIRAIA, 10 Postal Code:18538 PIRAEUS Telephone: (+30)-(210) , (210) /-7 Fax: (+30)-(210) , (210) Page 232

234 PLAISIO COMPUTERS S.A. Foundation Year: 1989 Listing Date: 15/03/1999 Retailer of computers, computer peripherals and office supplies. Big Capitalisation Technology Computer Hardware PLAIS - PLAISIO COMPUTERS SA (CR) - GRS THESI SKLIRI Postal Code:19600 MAGOULA Telephone: (+30) Fax: (+30) PLIAS CONSUMER GOODS S.A. Foundation Year: 1960 Listing Date: 16/08/1972 Manufacture of food, personal care and household cleaning products; also raw materials used in their production. Under Supervision Personal & Household Goods Personal Products PLAS - PLIAS SA (CB) - GRS ST KM, ATHINON-LAMIAS RD, VATHY AVLIDOS, T.T Postal Code: XALKIDA Telephone: (+30)-(22620)-86430, (22620) Fax: (+30)-(22620) kotsarini@plias.gr Page 233

235 PRAXITELIO HOSPITAL S.A. Foundation Year: 1966 Listing Date: 07/11/1990 Production of acrylic fibre and various textile products. Under Supervision Health Care Health Care Providers PRAXC - PRAXITELIO SA (CR) - GRS PRAXP - PRAXITELIO SA (PR) - GRS VARVAKI STR. 21 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) info@praxitelio.gr PROFILE SYSTEMS & SOFTWARE SA Foundation Year: Listing Date: 29/10/ PRODUCTION, COMMERCE, REPRESENTATION, IMPORT, EXPORT KAI MAINTENANCE OF COMPUTER SOFTWARE, 2. INDUSTRIAL PRODUCTION, COMMERCE, REPRESENTATION, IMPROT, EXPORT AND MAINTENANCE OF COMPUTERS, PERIPHERALS AND OTHER RELEVANT INFORMATION TECHNOLOGY EGUIPMENT, 3. DATA DISTRIBUTION SERVICES THROUGH SELECTED OR OTHER TELECOMMUNICATION NETWORKS AND THE REPRESENTATION OF LOCAL OF FOREIGN DATA DISTRIBUTION SERVICES COMPANIES, 4. RESEARCH, DEVELOPMENT, STUDY AND EXECUTION OF SOFTWARE AND ELECTRONIC USES OF PUBLIC SECTOR, FOR PUBLIC AND PRIVATE LEGAL ENTITIES, UTILITY ORGANIZATIONS, PUBLIC COMPANIES AND PRIVATE INDIVIDUALS, AS WELL AS THE PURCHASE AND IMPORT OF ALL REQUIRED PARTS FOR TH EXECUTION OF THOSE PROJECTS, 5. PARTICIPATION IN CONTESTS OF ANY KIND OF THW PUBLIC SECTOR, FOR PUBLIC AND PRIVATE LEGAL ENTITIES, UTILITY ORGANIZATIONS, PUBLIC COMPANIES AS LEAD MANAGER OR SUBCONTRACTOR, 6. SEMINAR COORDINATION IN ANY SECTOR OF INFORMATION TECHNOLOGY FOR THE DEVELOPMENT OF COMPANY'S ACTIVITIES AND ITS AIMS. Medium and Small Capitalisation Technology Computer Services PROF - PROFILE SA (CR) - GRS SYΝGROU AVE. 199 Postal Code:17121 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) info@profile.gr Page 234

236 PROODEFTIKH TECHNICAL COMPANY S.A. Foundation Year: 1960 Listing Date: 16/12/1993 Civil engineering and general constructing company specialising in roads, reservoirs, railways, harbours, refineries and similar projects. Under Supervision Construction & Materials Heavy Construction PRD - PROODEFTIKH SA (CR) - GRS SP. TRIKOUPI STR. 60 Postal Code:11473 ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) stock@proodeftiki.gr PROTON BANK S.A. Foundation Year: 2001 Listing Date: 22/12/2005 Big Capitalisation Banks Banks PRO - PROTON BANK S.A. (CR) - GRS AMALIADOS & ESLIN 20 Postal Code:11523 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) protonbank@proton.gr Page 235

237 PUBLIC POWER CORPORATION SA Foundation Year: 2000 Listing Date: 12/12/2001 Industrial and trading activity in the energy sector in Greece and abroad, as well as in the telecommunications sector. Management and information services towards other companies. Big Capitalisation Utilities Conventional Electricity PPC - PPC (CR) - GRS CHALKOKONDILI STR. 30 Postal Code:10432 ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) info@dei.com.gr QUALITY AND RELIABILITY S.A. Foundation Year: 1992 Listing Date: 11/08/2000 Computer software developer and supplier. Low Dispersion and Specific Features Technology Computer Services QUAL - QUALITY & RELIABILITY SA (CR) - GRS KONITSIS STR. 11Β Postal Code: MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) npet@q-r.gr Page 236

238 RAINBOW S.A. Foundation Year: 1986 Listing Date: 18/12/2001 The computerized data processing, imports and sales of computers and of electronic equipment of any nature, the designing and the installation of computers of any nature, the representation of foreign manufacturers of high technology products, computer repairs, computer leasing, etc Medium and Small Capitalisation Technology Computer Hardware RAIN - RAINBOW S.A. (CR) - GRS ILIA ILIOU STR. 75 Postal Code:11744 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) IR@rainbow.gr REDS S.A. Foundation Year: Listing Date: 05/08/1920 Wine and spirits producer. Also involved in related commercial and tourist activities, including supply of other beverages and bottled waters. Medium and Small Capitalisation Real Estate Real Estate Holding & Development KAMP - REDS S.A. (CR) - GRS ERMOU Postal Code: KIFISSIA Telephone: (+30)-(210) Fax: (+30)-(210) reds@etae.com Page 237

239 REVOIL S.A. Foundation Year: 1982 Listing Date: 07/01/2004 a) Wholesale of liquid and gas fuels of any type i.e all types of petroleum products (diesel oil, heating oil etc), gasoline, lubricants and other similar products produced in Greece or abroad b) Imports and representation of all types of liquid fuels, lubricants and relevant products (as permitted by the law) c) Operation of factories or installations for the production or processing of the previously mentioned items d) Operation of any type of tourist enterprise for its own account or on behalf of third parties e) The management or operation of other similar companies f) The lease of its installationsin whole or in part, or the lease of its rights or privileges to third parties Medium and Small Capitalisation Retail Specialty Retailers REV - REVOIL (CR) - GRS KAPODISTRIOU STR. 5 Postal Code:16672 VARI Telephone: (+30)-(210) Fax: (+30)-(210) admin@revoil.gr RIDENCO S.A. Foundation Year: 1982 Listing Date: 28/05/1991 Manufacture of, and wholesale and retail trade in, clothing and footwear; also trade in electronic equipment. Medium and Small Capitalisation Personal & Household Goods Footwear RIDE - RIDENCO SA (CR) - GRS AIGIALIAS STR. 52 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) ridenco@ridenco.gr Page 238

240 RILKEN S.A. Foundation Year: 1976 Listing Date: 29/04/1991 Manufacture of, trade in and supply of cosmetics, hair-care products and other similar consumer goods. Medium and Small Capitalisation Personal & Household Goods Personal Products RILK - RILKEN SA (CR) - GRS KYPROU 23 Postal Code:18346 MOSCHATO Telephone: (+30)-(210) Fax: (+30)-(210) investor.rilken@gr.henkel.com S & B INDUSTRIAL MINERALS S.A. Foundation Year: 1934 Listing Date: 16/12/1994 Mining and processing of minerals. Big Capitalisation Basic Resources General Mining ARBA - S & B IND. MINERALS (CR) - GRS ANDREA METAXA STR. 15 Postal Code:14564 KIFISSIA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) v.exarchou@sandb.com Page 239

241 SANYO HELLAS HOLDING S.A. Foundation Year: 1973 Listing Date: 27/08/1991 Holding company. Medium and Small Capitalisation Personal & Household Goods Durable Household Products SANYO - SANYO HELLAS HOLD. (CR) - GRS TH KM NAT.RD ATHINON-LAMIAS Postal Code: METAMORFOSI Telephone: (+30)-(210) Fax: (+30)-(210) info@shh.gr SAOS ANONYMOUS SHIPPING COMPANY OF SAMOTHRACE Foundation Year: 1992 Listing Date: 03/12/1997 Operator of children's' recreation camps and athletic centres. Also import/export in related goods. Under Suspension Industrial Goods & Services Marine Transportation SAOS - SAOS (CR) - GRS AL. PAPANASTASIOU STR. 31 Postal Code:54639 THESSALONIKI Telephone: (+30)-(2310) , (2310) Fax: (+30)-(2310) galis@compulink.gr Page 240

242 SATO OFFICE AND HOUSEWARE SUPPLIES S.A. Foundation Year: 1973 Listing Date: 15/06/1990 Manufacture and supply of office furniture and accessories. Medium and Small Capitalisation Personal & Household Goods Furnishings SATOK - SATΟ SA (CR) - GRS KIFISIAS AVE. & SOFOKLEOUS Postal Code:15126 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) mail@satogroup.gr SCIENS INTERNATIONAL INVESTMENTS AND HOLDINGS S.A. Foundation Year: 1990 Listing Date: 26/04/1999 The acquisition of participations in legal entities of any kind and joint ventures, operating in every business sector, in Greece and abroad and the rendering of services in the area of business consulting and financial management. Big Capitalisation Financial Services Specialty Finance SCIENS - SCIENS INTL HOLDINGS SA (CR) - GRS SOLONOS STR. 10 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) info@sciens.gr Page 241

243 SELECTED TEXTILE IND. ASSOC. S.A. Foundation Year: 1970 Listing Date: 15/04/1991 Production and processing of cotton and other textile raw materials, and of yarns and other knitting materials; also trading in cotton products and processing of third party textile products. Medium and Small Capitalisation Personal & Household Goods Clothing & Accessories EPIL - SELECTED TEXT. IND. ASSOC (CR) - GRS TH KM, PARNITHAS AVE. Postal Code: ACHARNAI Telephone: (+30)-(210) /-2 Fax: (+30)-(210) epil@stiafilco.com SELONDA AQUACULTURE S.A. Foundation Year: 1990 Listing Date: 24/06/1994 Fish farming. Production and supply of sea-bass and sea-bream, in particular. Medium and Small Capitalisation Food & Beverage Farming & Fishing SELO - SELONDA ΑQUACULTURE SA (CR) - GRS NAVARXOU NIKODIMOU 30 Postal Code:10556 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) selonda@gr.selonda.com Page 242

244 SFAKIANAKIS S.A. Foundation Year: 1958 Listing Date: 18/06/1997 Import/export motor vehicles, including buses, motorcycles, engines and spare parts. Chassis and bus production. Big Capitalisation Retail Specialty Retailers SFA - SFAKIANAKIS SA (CR) - GRS SIDIROKASTROU STR. 5-7 Postal Code:11855 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) sfakianakis@sfakianakis.gr SHEET STEEL CO. Foundation Year: 1939 Listing Date: 11/12/1946 Production and trade of steel products, including steel drums, for use in the petroleum and food industries. Under Suspension Basic Resources Steel XALY - SHEET STEEL SA (CR) - GRS DOIRANIS STR. 72 Postal Code:17672 KALLITHEA Telephone: (+30)-(210) , (210) Fax: (+30)-(210) info1@sheetsteel.gr Page 243

245 SHELMAN SWISSHELLENIC WOOD PROD. MANUF. S.A. Foundation Year: 1962 Listing Date: 28/03/1988 Supplier and processor of wood and of wood products. Medium and Small Capitalisation Construction & Materials Building Materials & Fixtures SELMK - SHELMAN SA (CR) - GRS ,26 KIFISSIAS AVE. & PARADEISOU STR. Postal Code: MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) toua@shelman.gr SIDENOR S.A. (FORMER ERLIKON) Foundation Year: 1974 Listing Date: 12/12/1994 Production of steel and steel products, electrodes, etc. Big Capitalisation Basic Resources Steel SIDE - SIDENOR (CR) - GRS CHIMARAS STR. 16 Postal Code:15125 MAROUSI Telephone: (+30)-(210) Fax: (+30)-(210) shareholders@sidenor.vionet.gr Page 244

246 SIDMA SA, STEEL PRODUCTS Foundation Year: 1981 Listing Date: 10/05/2005 Transformational activity: processing steel coils of various qualities, to transform them into steel sheets or narrower coils (strips). Commercial activity: trading of steel products. Services: These include processing material for third parties as well as commission revenues from the sale of third-party products. Medium and Small Capitalisation Basic Resources Steel SIDMA - SIDMA SA (CR) - GRS VAS. GEORGIOU 30 Postal Code:15233 CHALANDRI Telephone: (+30)-(210) Fax: (+30)-(210) SINGULAR LOGIC INFORMATION SYSTEMS & APPLICATIONS S.A. Foundation Year: 1990 Listing Date: 16/03/1998 Computer software and IT systems developer. Accounting systems software developer. Import, sale and leasing of computer systems. Representation of foreign firms. Big Capitalisation Technology Computer Services LODIS - SINGULARLOGIC (CR) - GRS AL.PANAGOULI & SINIOSOGLOU STR. Postal Code: NEA IONIA Telephone: (+30)-(210) Fax: (+30)-(210) investors@singularlogic.eu Page 245

247 Space Hellas S.A. Telecommunications, IT, Security Services Private Enterprise for Provision of Secu Foundation Year: 1985 Listing Date: 29/09/2000 General trading activities in the field of telecommunications. Medium and Small Capitalisation Technology Telecommunications Equipment SPACE - SPACE HELLAS SA (CR) - GRS MESOGION AVE. 312 Postal Code:15341 AGIA PARASKEVI Telephone: (+30)-(210) Fax: (+30)-(210) mdell@space.gr SPIDER METAL INDUSTRY N.PETSIOS & SONS S.A. Foundation Year: 1972 Listing Date: 28/12/1999 Shop-fitters and suppliers of waste disposal equipment to local authorities. Medium and Small Capitalisation Industrial Goods & Services Industrial Machinery SPID - SPIDER METAL INDUSTRY SA (CR) - GRS TH KM. IOANNINON-IGOUMENITSAS NAT.ROAD - Postal Code:45500 IOANNINA Telephone: (+30)-(26510)-24446, (26510) Fax: (+30)-(26510) investor@spidersa.com Page 246

248 SPRIDER STORES S.A. Foundation Year: Listing Date: 24/02/2004 a) The production and sale of clothes, sportswear, bathing suits and beachwear, shoes and leatherwear, textiles and fabrics and accessories of any kind. The import and export of the aforementioned goods. The representation of foreign or domestic companies, which produce the above or similar goods and their disposal at the local or international market either through retail or through wholesale. The acquisition and exploitation of any right, privilege or licence of use for technical methods or trademarks belonging to third parties, which are necessary or useful for the scope of the company. In order to accomplish its scope, the company has the right to participate in any type of business entity with the same or similar or different scope and (or) to cooperate with such entities and to issue guarantees toward third parties in favour of its subsidiaries or affiliated companies, at the sole and absolute judgment of its Board of Directors b) The construction and developmentof real estate property Big Capitalisation Retail Apparel Retailers SPRDER - SPRIDER STORES (CR) - GRS SYROU STR. 1 Postal Code:15349 ANTHOUSA Telephone: (+30)-(210) Fax: (+30)-(210) sprider@sprider.gr STELIOS KANAKIS SA Foundation Year: Listing Date: 18/07/2002 Import and trading of products, that are used in thw production of sweets, pastry and ice creams. Medium and Small Capitalisation Food & Beverage Food Products KANAK - S.KANAKIS SA (CR) - GRS ANEMONIS STR. 4 Postal Code:13671 ACHARNAI Telephone: (+30)-(210) Fax: (+30)-(210) metoxes@stelioskanakis.gr Page 247

249 TECHNICAL OLYMPIC S.A. Foundation Year: 1967 Listing Date: 06/04/1994 Civil engineering contractor undertaking private and public sector projects. Under Supervision Personal & Household Goods Home Construction OLYMP - TECHNICAL OLYMPIC SA (CR) - GRS SOLOMOU STR. 20 Postal Code:17456 ALIMOS Telephone: (+30)-(210) Fax: (+30)-(210) info@techol.gr TECHNICAL PUBLICATIONS S.A. Foundation Year: 1982 Listing Date: 10/02/2000 Publisher of books, magazines, newspapers and other publications. Medium and Small Capitalisation Media Publishing TEKDO - TECHNICAL PUBLICATIONS SA (CR) - GRS IOANNOU METAXA 80 Postal Code:19400 KOROPI Telephone: (+30)-(210) Fax: (+30)-(210) nxal@techlink.gr Page 248

250 TELETIPOS S.A. Foundation Year: 1989 Listing Date: 18/08/1994 Operation of radio and television stations, production of programmes and operation of studios.production of, and trading in, radio & television programmes and broadcasts,installation, operation and utilization of radio & television stations all over Greece. Creation, equipment, organization and operation of studios for the production and exploitation of radio & television broadcasts, programmes and commercials. Medium and Small Capitalisation Media Broadcasting & Entertainment TELET - TΕLETIPOS SA (CR) - GRS ROUSOU & MESOGEION AVE. Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) Stella.Roussi@megatv.com TEXAPRET S.A. Foundation Year: 1985 Listing Date: 01/07/1998 Dyeing and finishing of textiles. Low Dispersion and Specific Features Personal & Household Goods Clothing & Accessories TEXT - TEXAPRET SA (CR) - GRS KALOCHORI P.O. BOX Postal Code:57009 THESSALONIKI Telephone: (+30)-(2310) Fax: (+30)-(2310) info@texapret.gr Page 249

251 "THE HOUSE OF AGRICULTURE SPIROY S.A." Foundation Year: 1987 Listing Date: 28/07/1997 Supply of seeds and fertilizers. Also farm operations, agricultural services. Medium and Small Capitalisation Chemicals Specialty Chemicals SPIR - SPIROY AGRICULTURE SA (CR) - GRS MARKONI STR. 5 Postal Code:12242 AIGALEO Telephone: (+30)-(210) Fax: (+30)-(210) finance@spirou.gr THESSALONIKI PORT AUTHORITY S.A. Foundation Year: 1999 Listing Date: 27/08/2001 Ship Mooring services, cargo and passenger transport to and from the Port of Thessaloniki. Establishment, management and operating port infrastructure. Big Capitalisation Industrial Goods & Services Transportation Services OLTH - TPA SA (CR) - GRS Α'PROVLITA LIMENOS THESSALONIKIS, P.Ο. BΟΧ Postal Code:54110 THESSALONIKI Telephone: (+30)-(2310) /-128, (2310) Fax: (+30)-(231) shares@thpa.gr Page 250

252 THESSALONIKI WATER AND SEWAGE COMPANY SA Foundation Year: 1998 Listing Date: 21/09/2001 all kinds of water suppliance Big Capitalisation Utilities Water EYAPS - THESSALONIKA WATER & SEWERAGE - GRS EGNATIAS STR. 127 Postal Code:54635 THESSALONIKI Telephone: (+30)-(2310) , (2310) Fax: (+30)-(2310) info@eyath.gr THRACE PLASTICS CO. Foundation Year: 1977 Listing Date: 26/06/1995 Manufacture and trade in synthetic fabrics and plastic packaging materials. Medium and Small Capitalisation Chemicals Specialty Chemicals PLAT - THRACE PLASTICS SA (CR) - GRS MARINOU ANTYPA STR. 20 Postal Code: ALIMOS Telephone: (+30)-(210) , (25410) Fax: (+30)-(210) , (25410) fkirlidou@thraceplastics.gr, hoffice@thraceplastics.gr Page 251

253 TITAN CEMENT COMPANY S.A. Foundation Year: Listing Date: 22/02/1912 Production and trade in cement and related products. Big Capitalisation Construction & Materials Building Materials & Fixtures TITK - TITAN CEMENT (CR) - GRS TITP - TITAN CEMENT CO. (PR) - GRS HALKIDOS STR. 22 Postal Code:11143 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) tac@titan.gr, kalesin@titan.gr TRASTOR REAL ESTATE INVESTMENT COMPANY Foundation Year: 1999 Listing Date: 28/06/2005 Special purpose company established in order to invest and manage real estate property. The Co is focused on commercial real estate assets and generates revenues either through commercial leases or the sale of portfolio assets. Medium and Small Capitalisation Real Estate Industrial & Office REITs TRASTOR - TRASTOR REAL EST. INV. CO.(CR) - GRS Kifisias 116 & Dabaki 1 5ος όροφος Postal Code:11526 ATHENS Telephone: (+30)-(210) / Fax: (+30)-(210) info@trastor-reic.gr Page 252

254 TT HELLENIC POSTBANK S.A. Foundation Year: 2002 Listing Date: 05/06/2006 Big Capitalisation Banks Banks TT - TT HELLENIC POSTBANK (CR) - GRS PESMAZOGLOU STR. 2 Postal Code:10175 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) investor_relations@ttbank.gr UNIBIOS HOLDINGS S.A. Foundation Year: 1940 Listing Date: 30/08/1972 The Unibios group promotes products and technologies for the responsible use of water and energy.culligan Hellas is the main company of the group in the water treatment equipment business.culligan Hellas is also active through its Water Investment subsidiary which operates in Slovakia and the Czech Republic.In addition the company has obtained licenses to start similar activities in Bulgaria and FYROM.Biossol, the other basic subsidiary, covers the original activities of the group in the HVAC business with a new emphasis on environmentally friendly technologies.other group companies cover water treatment technologies for domestic use and scaffolding services. Low Dispersion and Specific Features Construction & Materials Building Materials & Fixtures BIOSK - UNIBIOS (CR) - GRS BIOSP - UNIBIOS (PR) - GRS LYKABITTOY 19 Postal Code: ATHENS Telephone: (+30)-(210) , (210) Fax: (+30)-(210) a.svoronos@unibios.gr Page 253

255 UNITED TEXTILES S.A. Foundation Year: Listing Date: 14/06/1994 Manufacturing of, and trade in, of textile materials. Under Supervision Personal & Household Goods Clothing & Accessories UTEX - UNITED TEXTILES (CR) - GRS LOGGOU 1 Postal Code: LYCOVRISI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) investors@klonatex.com VARANGIS AVEPE S.A. Foundation Year: 1980 Listing Date: 29/07/1998 Production and supply of household furniture and furnishings. Medium and Small Capitalisation Personal & Household Goods Furnishings VARG - VARANGIS AVEPE S.A. (C.R.) - GRS KIFISIAS AVE. 38 Postal Code:15125 MAROUSI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) avepe@otenet.gr Page 254

256 VARDAS SA Foundation Year: 1991 Listing Date: 23/04/2001 Production and trading of clothes, tissues, garments and footwear, import - export, representation of international and domestic clothing houses (Retail). Medium and Small Capitalisation Retail Apparel Retailers VARDA - VARDAS SA (CR) - GRS MESOGION AVE. 225 Postal Code:11525 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) Vardas@vardas.gr VARVARESSOS S.A. EUROPEAN SPINNING MILLS Foundation Year: 1974 Listing Date: 03/12/1999 Ferry operator on domestic and foreign routes; also involved in related tourism activities. Low Dispersion and Specific Features Personal & Household Goods Clothing & Accessories VARNH - VARVARESSOS SA (CB) - GRS AR. KOKKINOU STR. 8 Postal Code:59200 NAOUSA Telephone: (+30)-(23320)-23320, (23320) Fax: (+30)-(23320)-23320, (23320) Imaria@varvaressos.gr Page 255

257 VELL GROUP S.A. Foundation Year: 1987 Listing Date: 07/03/1996 Importers and suppliers of household electrical appliances. Medium and Small Capitalisation Personal & Household Goods Durable Household Products VELL - VELL GROUP S.A. (CR) - GRS TATOIOU STR. 112 Postal Code:14452 METAMORFOSI Telephone: (+30)-(210) Fax: (+30)-(210) a.tsamouris@tasoglou.gr VIOHALKO HELLENIC COPPER AND ALUMINIUM INDUSTRY S.A. Foundation Year: 1937 Listing Date: 11/12/1947 Holding company. Big Capitalisation Industrial Goods & Services Diversified Industrials BIOX - VIOHALCO (CB) - GRS MESOGION AV. 2-4 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) ase@viohalco.vionet.gr Page 256

258 VIS Container Manufacturing Co. Foundation Year: 1936 Listing Date: 24/08/1971 Manufacturing of corrugated paper, boxes and packaging materials. Low Dispersion and Specific Features Industrial Goods & Services Containers & Packaging BISP - VIS S.A. (PR) - GRS VIS - VIS SA (CR) - GRS GEORGIOU GENNIMATA AVE. Postal Code:19018 MAGOULA Telephone: (+30)-(210) Fax: (+30)-(210) info@vis.gr VIVARTIA INDUSTRIAL & COMMERCIAL COMPANY OF FOOD PRODUCTS & CATERING SERVICES Foundation Year: 1968 Listing Date: 29/10/1990 Production and distribution of dairy products such as milk and similar products,yoghurt and fruit juices.quick service restaurants and coffee bars.production and distribution of frozen foods such as frozen vegetables,ready prepared meals and dough products.production of standardized foods (snacks) such as soft dough products and oven baked rusks made of flour (main raw material). Low Dispersion and Specific Features Food & Beverage Food Products VIVART - VIVARTIA (CR) - GRS ZIRIDI STR. 10 Postal Code:15123 MAROUSI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) thatsi@vivartia.com Page 257

259 VIVERE S.A. Foundation Year: 1976 Listing Date: 18/08/1995 Holding company. Low Dispersion and Specific Features Retail Specialty Retailers VIVER - VIVERE S.A.(CR) - GRS A.METAXA & 8 PANDORAS STR. Postal Code:16674 GLYFADA Telephone: (+30)-(211) Fax: (+30)-(211) vivere@virginmega.gr VOGIATZOGLOU SYSTEMS S.A. Foundation Year: 1992 Listing Date: 26/10/2000 Assembly and supply of household furniture; also supply of shopfitting materials. Other activities related to decoration of retail sales premises. Medium and Small Capitalisation Industrial Goods & Services Industrial Suppliers VOSYS - VOGIATZOGLOU SYSTEMS SA (CR) - GRS TH KM ATHINON-LAMIAS - Postal Code:14451 METAMORFOSI Telephone: (+30)-(210) Fax: (+30)-(210) aperaki@voyatzoglou.gr Page 258

260 "WOOL INDUSTRY TRIA ALFA" S.A. Foundation Year: 1927 Listing Date: 30/08/1976 Dyeing, spinning and weaving of wool and wool/polyester. Low Dispersion and Specific Features Personal & Household Goods Clothing & Accessories AAAK - TRIA ALFA SA (CR) - GRS AAAP - TRIA ALFA SA (PR) - GRS AL. PANAGOULI STR. 64 Postal Code:14234 NEA IONIA Telephone: (+30)-(210) Fax: (+30)-(210) alpha@internet.gr X. BENRUBI S.A. Foundation Year: 1980 Listing Date: 05/06/1990 Import, marketing and distribution of household appliances and commercial products. Medium and Small Capitalisation Personal & Household Goods Durable Household Products MPENK - CH. BENRUBI SA (CR) - GRS ST. THOMAS STR. 27 Postal Code:15124 MAROUSI Telephone: (+30)-(210) , (210) Fax: (+30)-(210) , (210) aleka@benrubi.gr, padelis@benrubi.gr Page 259

261 X. K. TEGOPOULOS EDITIONS SA Foundation Year: 1974 Listing Date: 30/12/1998 Newspaper and magazine publisher. Low Dispersion and Specific Features Media Publishing TEGO - CH.TEGOPOULOS PUBL. SA (CR) - GRS MINOOS STR Postal Code:11743 ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) acnt@enet.gr XAIDEMENOS S.A. Foundation Year: 1995 Listing Date: 04/01/2000 Printer, supplier of printing materials and publisher. Medium and Small Capitalisation Industrial Goods & Services Business Support Services HAIDE - HAIDEMENOS SA (CR) - GRS ARCHAIOU THEATROU STR. 4 Postal Code:17456 ALIMOS Telephone: (+30)-(210) Fax: (+30)-(210) , (210) info@haidemenos.gr Page 260

262 XYLEMPORIA S.A. Foundation Year: 1957 Listing Date: 27/08/1975 Importers and distributors of wood and wood products. Medium and Small Capitalisation Construction & Materials Building Materials & Fixtures XYLEK - XYLEMPORIA SA (CR) - GRS XYLEP - XYLEMPORIA SA (PR) - GRS THESI KOKKINOPYRGOS-KALIMPAKI Postal Code: ELEYSINA Telephone: (+30)-(210) Fax: (+30)-(210) , (210) info@xylemboria.gr YALCO - CONSTANTINOU S.A. Foundation Year: 1973 Listing Date: 13/11/1995 Import and distribution of glassware and electrical appliances. Medium and Small Capitalisation Personal & Household Goods Durable Household Products YALCO - YALCO - CONSTANTINOU SA (CB) - GRS A. METAXA STR. 9 Postal Code:14564 KIFISSIA Telephone: (+30) Fax: (+30) makris@yalco.gr Page 261

263 ZAMPA S.A. Foundation Year: 1962 Listing Date: 26/07/1972 Supply of household electrical appliances, including air conditioning equipment, TV aerials, etc. Medium and Small Capitalisation Personal & Household Goods Durable Household Products ZAMP - ZAMPA SA (CB) - GRS KIFISSOU AVE. 38 Postal Code:12133 PERISTERI Telephone: (+30)-(210) Fax: (+30)-(210) zampa@internet.gr ZENON SA ROBOTICS AND INFORMATICS Foundation Year: Listing Date: 19/07/2002 Research and development of industrial automisations, robot systems, information systems, image processors. Software producer Under Supervision Industrial Goods & Services Industrial Machinery ZENON - ZINON (CR) - GRS KANARI STR. 5 Postal Code:15344 GLYKA NERA Telephone: (+30)-(210) Fax: (+30)-(210) pt@zenon.gr Page 262

264 ΑΧΟΝ S.A. HOLDING Foundation Year: 1987 Listing Date: 15/06/1994 Holding company Medium and Small Capitalisation Health Care Health Care Providers AXON - AXON HOLDING SA (CR) - GRS ERMOU STR. 2 Postal Code: ATHENS Telephone: (+30)-(210) Fax: (+30)-(210) euromedica@ath.forthnet.gr Page 263

265 Page 264

266 16 Athex Member Firms Page 265

267 16 ATHEX MEMBER FIRMS AGRICULTURAL BANK OF GREECE S.A. Foundation Year: Panepistimiou Av., Athens Telephone: Fax: GRANT THORNTON S.A. Foundation Year: Vas. Konstantinou str., Athens Telephone: Fax: KANTOR KANTOR CAPITAL FINANCIAL CONSULTANTS S.A. Foundation Year: Omirou and Bissarionos Street, Athens - Greece Telephone: Fax: MILLENNIUM BANK S.A. Foundation Year: 2000 Telephone: 182 Syggrou Avenue, Kallithea , Athens (switchboard) (investment banking division) Fax: A. SARRIS Securities S.A. Foundation Year: Dragatsaniou str., Athens Telephone: Fax: sarrissecurities@yahoo.com Page 266

268 ABG SECURITIES S.A. Foundation Year: , Filellinon Str ATHENS Telephone: , Fax: , ACROPOLIS Securities S.A. Foundation Year: Efpolidos str., Athens Telephone: , Fax: , info@acropolis-axe.gr ALKI Brokerage Firm S.A. Foundation Year: Stadiou str., Athens Telephone: Fax: alke@alkestockbrokers.gr ALPHA BANK Foundation Year: Stadiou str., Athens Telephone: Fax: fmt@alpha.gr ALPHA FINANCE INVESTMENT SERVICES S.A. Foundation Year: Merlin str, Athens Telephone: Fax: reception@alphafinance.gr ARGUS STOCKBROKERS LTD Foundation Year: Demostheni Severi Ave., Metroplois Tower, 1st and 2nd Floor, 1080 Nicosia, Cyprus Telephone: Fax: argus@argus.com.cy ARTION Securities S.A. Foundation Year: Sina str., Athens Telephone: Fax: info@artion.net Page 267

269 ASPIS BANK S.A. Foundation Year: Merlin str., Athens Telephone: Fax: aspis@aspissec.gr ATHENAIKI Brokerage Firm S.A. Foundation Year: Stadiou & Pesmazoglou str, Athens Telephone: Fax: secretary@athinaiki-securities.gr ATLANTIC SECURITIES LIMITED Foundation Year: Prodromou street, CY-1090 Lefkosia, Cyprus Telephone: Fax: info@atlanticfs.com ATLAS SECURITIES S.A. Foundation Year: MICHALAKOPOULOU & VERVENON Str AMPELOKIPI ATHENS Telephone: (+30) ? Fax: (+30) atlas@atlasaxe.gr AXIA VENTURES GROUP LTD Foundation Year: G. Kranidiotis Street, Nice Day House, Office 102, 1065 Nicosia, Cyprus Telephone: Fax: info@axiavg.com AXON Securities S.A. Foundation Year: Stadiou str., Athens Telephone: Fax: main@axonsec.gr BANK EFG EUROBANK ERGASIAS S.A. Foundation Year: 8 Othonos str., Athens Telephone: Fax: investor_relations@eurobank.gr Page 268

270 BANK OF ATICCA S.A. Foundation Year: Akadimias str., Athens Telephone: Fax: BANΚ OF CYPRUS PUBLIC COMPANY LTD Foundation Year: 1899 Telephone: 51 Stasinou Str., Ag. Paraskevi, Strovolos, Nicosia, Cyprus (HEADQ.) 26 Fidippidou & Halkidonos Str., , Athens 170 Alexandras Aven Fax: BETA Securities S.A Foundation Year: Alexandras Ave., & Vraila str., Athens Telephone: Fax: , BNP PARIBAS SECURITIES SERVICES Foundation Year: 94 Vas. Sofias & 1 Kerasountos str., Athens Telephone: , Fax: CAPITAL Securities S.A Foundation Year: Mitropoleos str., Athens Telephone: Fax: capital.axe@capitalsec.gr CFS Securities Foundation Year: Stadiou str., Stoa Kaligga, Athens Telephone: Fax: info@cfs.gr Page 269

271 CHEUVREUX S.A. Foundation Year: quai Paul Doumer Paris La Defense Cedex Telephone: 33 (0) Fax: CITIBANK INTERNATIONAL PLC - (Athens Branch) Foundation Year: 8 Othonos str., Athens Telephone: Fax: CO-OPERATIVE CENTRAL BANK LTD Foundation Year: Grigori Afxentiou, 1096 Nicosia, Cyprus Telephone: Fax: epeyccb@ccb.coop.com.cy CYCLOS Securities S.A Foundation Year: Panepistimiou str., Athens Telephone: Fax: central@cyclos.gr D.A.TSEKOURAS Securities S.A. Foundation Year: Stadiou str., Athens Telephone: Fax: hhtp:// tsecourassec@ath.forthnet.gr DEUTSCHE BANK A.G. Foundation Year: 1870 Deutsche Bank AG Theodor-Heuss-Allee Frankfurt Germany Telephone: Fax: Page 270

272 DRAX Securities S.A. Foundation Year: Kratinou str., Athens Telephone: Fax: info@drax.gr DYNAMIC Securities S.A. Foundation Year: Charilaou Trikoupi str., Athens Telephone: , Fax: info@dynamicsec.gr EL. A. PETROPOULAKIS Securities S.A. Foundation Year: Aristidou str., Athens Telephone: Fax: , info@petropoulakis.net EMPORIKI BANK S.A. Foundation Year: Sofokleous str., Athens Telephone: , Fax: equities@emporiki.gr EUROBANK EFG SECURITIES Investment Firm SA Foundation Year: Philellinon & 13 Xenofontos str., Athens Telephone: , Fax: info@eurobanksec.gr EUROCORP SEC. S.A. Foundation Year: Filikis Eterias Sq Athens Telephone: Fax: eurocorpsec.admin@eurocorp.gr Page 271

273 EUROTRUST INVESTMENT SERVICES SA Foundation Year: Sophocleous str., Athens Telephone: Fax: EUROXX Securities S.A Foundation Year: Paleologou str., , Halandri, Athens Telephone: Fax: info@euroxx.gr FORTIUS FINANCE SECURITIES Foundation Year: Kifisias Ave., Halandri Telephone: , Fax: info@fortius.gr G.A. PERVANAS Securities S.A Foundation Year: Sophocleous str., Athens Telephone: Fax: info@pervanas.gr GENERAL BANK OF GREECE S.A. Foundation Year: Ermou str., Athens Telephone: Fax: genbkinv@otenet.gr GLOBAL CAPITAL SECURITIES AND FINANCIAL SERVICES LTD Foundation Year: LIMASSOL AVENUE, EUROSURE BUILDING, 1ST FLOOR, P.O.BOX 16099, 2085 NICOSIA, CYPRUS Telephone: Fax: yiannos.stavrinides@globalcapital.com.cy GUARDIAN TRUST Securities S.A. Foundation Year: Philellinon str., Athens Telephone: // Fax: // info@guardiantrust.gr Page 272

274 HELLENIC - AMERICAN Securities S.A Foundation Year: Evripidou str, Athens. Telephone: Fax: info@hellenicamerican.gr HELLENIC BANK (INVESTMENTS) LTD Foundation Year: Kyriakou Matsi Av., 2nd Fl., P.O.BOX 24747, 1394 NICOSIA, CYPRUS Telephone: Fax: investments@hellenicbank.com HSBC BANK PLC Foundation Year: Mesogeion Ave., Athens Telephone: , Fax: , HSBC Pantelakis Securities S.A Foundation Year: Messoghion Ave., Athens Telephone: , Fax: , hpss@hsbc.gr INDEX Securities S.A. Foundation Year: Dragatsaniou str., Athens Telephone: , , Fax: info@indexsec.gr INTERSEC Securities S.A Foundation Year: Sygrou Ave., Athens Telephone: , Fax: Info@intersec.gr Page 273

275 INVESTMENT BANK OF GREECE S.A. J.CHR.MAVRIKIS Securities SECURITIES COMPANY S.A Foundation Year: Sophokleous str., Athens Telephone: , , , Fax: info@mavrikis.gr KAPPA Securities S.A Foundation Year: Valaoritou str., Athens Telephone: Fax: kappa@kappasec.gr KARAMANOF Securities S.A. Foundation Year: Plateia Agion Theodoron, Athens Telephone: , (Τηλ.Παραγώγων) Fax: , backoffice@karamanofaxe.gr KYPROU Securities S.A. Foundation Year: Feidippidou Str & Halkidonas, , Ampelokipoi, Athens Telephone: Fax: infosec@kyprousecurities.gr LEON. DEPOLAS Securities S.A Foundation Year: Ch.Lada str., Athens Telephone: , Fax: info@depolasaxe.gr MAGNA TRUST Securities S.A. Foundation Year: Feidiou str., Athens Telephone: Fax: info@magnatrust.gr Marfin CLR (Financial Services Ltd) Foundation Year: 2003 Byron Ave 26, CLR House, 1096 Nicosia Cyprus Telephone: Fax: Ctoumpouri@clrfn.com Page 274

276 MEGA EQUITY SECURITIES & FINANCIAL SERVICES LTD Foundation Year: Griva Digeni Avenue, 1080 Nicosia, Cyprus, P.O. Box 23685, 1685 Nicosia, Cyprus Telephone: , Fax: MEGATRUST - OLYMPIC Securities S.A. Foundation Year: Stadiou str., , Athens Telephone: (640,647) Fax: info@mto.gr MERIT Securities S.A. Foundation Year: Vasileos Konstantinou Av., 11635, Athens Telephone: Fax: , info@merit.gr MERRILL LYNCH Foundation Year: 1988 Merrill Lynch Financial Center, 2 King Edward Street, London EC1A 1HQ, United Kingdom Telephone: Fax: METOCHIKI Securities S.A Foundation Year: G.Genadiou str., Athens Telephone: Fax: info@metoxiki.gr MIDAS Brokerage S.A. Foundation Year: Sophokleous str, Athens Telephone: Fax: mida1axe@otenet.gr N. CHRYSSOCHOIDIS STOCK BROKERAGE I.S.S.A. Foundation Year: Sophocleous str., Athens Telephone: Fax: nchrysso@otenet.gr Page 275

277 N. SARROS Securities S.A. Foundation Year: Sophocleous str., (4th Floor), Athens Telephone: Fax: NATIONAL BANK OF GREECE S.A. Foundation Year: Aiolou str., Athens Telephone: Fax: NATIONAL P&K Securities S.A. Foundation Year: Michalakopoulou str., Athens Telephone: Fax: NIC. KOMNINOS Securities S.A Foundation Year: Stadiou str., Athens Telephone: , Fax: NORTHERN GREECE Securities S.A. Foundation Year: Momferatou str., Athens Telephone: , , Fax: NUNTIUS HELLENIC Securities S.A. Foundation Year: Dragatsaniou str., Athens Telephone: , Fax: , , nuntius2@otenet.gr OLYMPIA Securities S.A. Foundation Year: 2000 Α. Metaxa 46Β str,glyfada, Telephone: Fax: derivatives@olympiasec.gr Page 276

278 ORANGE PARTNERS SA Foundation Year: 1999 GEORGE 5, 10682, ATHENS Telephone: Fax: PAN. VL. TZEMOS SECURITIES COMPANY S.A. Foundation Year: Sophokleous str, Athens Telephone: Fax: tzemos@ath.forthnet.gr PEGASUS Securities S.A Foundation Year: Valaoritou & Amerikis str., Athens Telephone: Fax: info@pegasusaxe.gr PENTEDEKAS SECURITIES SA Foundation Year: Klisovis str., Athens Telephone: , , Fax: , pentedek@pentedekas.gr PIRAEUS BANK S.A. Foundation Year: Amerikis str., Athens Telephone: , Fax: , ZapantiM@piraeusbank.gr PIRAEUS SECURITIES S.A. Foundation Year: Stadiou str., Athens Telephone: , , Fax: , , info@piraeus-sec.gr PRAXIS INTERNATIONAL BROKERAGE S.A. Foundation Year: Karageorgi Servias str., Athens Telephone: Fax: info@praxis.com.gr Page 277

279 PRELIUM SECURITIES & INVESTMENT SERVICES S.A. Foundation Year: Davaki Str & Kifisias , Athens Telephone: Fax: info@prelium.com PROBANK S.A. Foundation Year: Amerikis str., Athens Telephone: Fax: prosecurities@probank.gr PROTON BANK S.A. Foundation Year: S.KARAGEORGA & 1 CHAR. TRIKOUPI Telephone: , Fax:, protonbank@proton.gr Sharelink Securities & Financial Services Ltd Foundation Year: 1996 Ellinas House, 6 Theotoki Street, 1055, Nicosia, Cyprus Telephone: Fax: Info@sharelink.com.cy SOCIETE GENERALE S.A. Foundation Year: Cours Valmy Puteaux? La defense Telephone: Fax: Valerie.rolland@sgcib SOLIDUS Securities S.A. Foundation Year: L. Riankour str. (Apollon Tower), Athens Telephone: Fax: , info@solidus.gr SOTIRIADIS Securities S.A. Foundation Year: Valaoritou str., Athens Telephone: Fax: themiso@otenet.gr Page 278

280 ST. EM. LAVRENTAKIS Securities S.A Foundation Year: Sophocleous str., Athens Telephone: Fax: The Cyprus Investment and Securities Corporation Limited (CISCO) Foundation Year: 1984 Eurolife House, 4 Εvrou Street,, PoBox 20597, 1660 Nicosia, Cyprus Telephone: Fax: info@cisco.bankofcyprus.com UBS LIMITED Foundation Year: Finsbury Avenue London EC2M 2PP Telephone: Fax: Z.G. PORTALAKIS Brokerage S.A. Foundation Year: Pesmazoglou str., Athens Telephone: Fax: info@portalakis.gr APEX Securities S.A. Foundation Year: Mitropoleos Sq. & 4 Ypatias str., Athens Telephone: Fax: info@apexaxe.gr Page 279

281 Page 280

282 17 Athex Administration Page 281

283 17 ATHEX ADMINISTRATION ATHEX is administered by a Board of Directors* Chairman: Spyros Capralos Vice Chairman: Socratis Lazaridis Members: Eleftherios Kourtalis Elias Skafidas Panagiotis Drakos Dionissios Linaras Constantinos Pentedekas * As of 31/12/2008 Page 282

284 Page 283

285 18 Key Contacts Page 284

286 18 KEY CONTACTS ATHENS EXCHANGE - SHARES MARKET 110, Athinon Ave., Athens, Greece Tel: / , Fax: / , website: THESSALONIKI STOCK EXCHANGE CENTRE Katouni Str., Thessaloniki, Greece Tel: / Fax: / website: ASSOCIATION OF GREEK STOCKBROKERS (SMEHA) Fidiou Str., Athens, Greece Tel: / , Fax: / ATHEX MEMBERS GUARANTEE FUND Fidiou Str., Athens, Greece Tel: / , Fax: / ASSOCIATION OF GREEK INSTITUTIONAL INVESTORS (AGII) 15 Omirou Str. (3rd floor), Athens 10672, Greece Tel: / (3lines), Fax: / , website: Page 285

287 The Athens Exchange Fact Book (edition 2009), Is published and edited by the Department of Information Services of the ATHENS EXCHANGE (ATHEX). The data included in this edition are a property of the ATHEX, are intended solely for information and statistical purposes and under no circumstances do they constitute investment proposals or other kinds of investment advice for products traded in the ATHEX. The above data are copyright protected. Users are forbidden to reproduce, modify, copy, sale, transmit or redistribute, by all reproduction means and methods, part or the whole of the above data, without reference to their source. The commercial exploitation of these data is, also, forbidden by third parties. ATHEX does not carry any responsibility, direct or indirect, derived from usage or accidental alteration of the above data when used by third parties. Notes: *This document reviews developments on the Athens Exchange during 2008, ** Numeric data that are included in the Fact Book have been rounded, depending on the way they are presented. Therefore any errors that may occur are negligible and due to this rounding. Page 286

288 110 Athinon Ave. GR Athens (+30) (+30)