ANNOUNCEMENT

Q1 2005 FINANCIAL STATEMENTS

1 June 2005 - HELLENIC EXCHANGES HOLDINGS S.A. (HELEX) announced today the financial results for the first quarter of 2005, in accordance with International Accounting Standards (IAS).

In the first quarter of 2005, the net profits of the Group, according to the audited financial statements, after the deduction of income tax, amounted to €7.805 million compared to €6.422 million in the corresponding period a year ago, up by some 22%.

It is noted that the company adjusted the corresponding balance sheet data of last year, according to IAS, in order for it to be comparable with the respective 2005 data.

The consolidated turnover, in the period from 1.1.2005 to 31.3.2005, reached €17.380 million versus €19.053 million in Q1 2004, while the Group?s net pre-tax results stood at €10.352 million in Q1 2005 against €12.565 million in Q1 2004.

In Q1 2005, turnover decreased by some 9% compared with the corresponding period last year due to a decrease of revenues generated from the derivatives market and from new listings and raises of share capital on the equities market.

Operating cost was reduced by some 21%. Thus, the consolidated Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) reached €9.870 million in Q1 2005 versus €9.737 million in Q1 2004, while the Group's operating result (EBIT) amounted to €9.088 million in Q1 2005 against €8.602 million in the respective period in 2004, increasing by some 6%.

The financial statements of the parent company, after the absorption of the subsidiary company Systems Development & Support House of the Capital Market (ASYK), in the first quarter of 2005 posted revenues of ?1.169 million versus €1.134 million in the first quarter of 2004. Also, in Q1 2005, the company's revenues generated from dividends amounted to €56.830 million versus €22.549 million in Q1 2004. The company's net pretax profits reached €57.562 million in Q1 2005 versus €27.273 million in Q1 2004. Finally, in the first quarter of 2005, the net after-tax profits of the company stood at €57.535 million versus €23.901 million in the corresponding period last year.