Athens, May 22^nd 2002

ANNOUNCEMENT

DECISIONS OF 1st ORDINARY SHAREHOLDERS? MEETING

The first Assembly General Meeting of the shareholders of HELEX was attained today, May 21, 2002. During the AGM, the financial statements were approved for the first fiscal year (from 29.3.2000 to 31.12.2001).

The AGM approved the payment of a total dividend amounting to ? 22,634,238.25. As a consequence, the remainder of the dividend, which amounts to ? 0.18 per share, will be paid. It is noted that the Company has distributed an interim dividend of ? 0.191 (Grd 65) per share to the shareholders of December 14, 2000.

The shareholders of the Company also approved the fees of the BoD members and elected the ordinary and substitute auditors for the next fiscal period.

The Board of Directors informed the Assembly about the purchase of the property on which the building complex will be built and will house the Group?s companies. The property which is located on 108-110 Athinon Avenue, has a total area of 7,900.97 square meters and was purchased for the amount of ? 17,400,000.

Finally, the Assembly General Meeting elected HELEX?s new Board of Directors, which is composed as follows:

1.   Panayiotis Alexakis, Chairman

2.   Apostolos Tamvakakis, Vice President

3.   Nikolaos Karamouzis, Member

4.   Gikas Manalis, Member

5.   Alexios Pilavios, Member

6.   Anastasios Stamatopoulos,Member

7.   Spiros Theodoropoulos, Member

8.   Panayiotis Vlassiadis, Member

9.   Marinos Yannopoulos, Member