ANNOUNCEMENT

Q3 2005 FINANCIAL STATEMENTS
Net Profit after taxes EUR19.5 ml. versus EUR15.4 ml.

22 November 2005 - The BoD of HELLENIC EXCHANGES HOLDINGS S.A. (HELEX) approved today the financial results for the third quarter of 2005, in accordance with International Accounting Standards (IAS).

The net profit of the Group in 9M 2005, according to the reviewed financial statements, after taxes and minority interests amounted to EUR19.5 million vs. EUR15.4 million in 9M 2004, an increase of 27%. The net profits of the Group in the third quarter amounted to EUR6.4 million vs. EUR1.0 million, an increase of 556%.

The consolidated turnover, in the period from January 1st 2005 to September 30th 2005, amounted to EUR52.6 million against EUR44.6 million in the same period in 2004, an increase of 18%.

This increase is mainly due to the increased daily trading activity in the Athens Exchange which during the nine month period of 2005 amounted to EUR206 million, versus EUR133 million in 9M 2004 (an increase of 54%). Income from the cash market, which includes income from both trading as well as clearing and settlement, amounted to EUR36.0 million in 9M 2005 compared to EUR25.5 in 9M 2004, an increase of 41%. In the third quarter of 2005, the Group's turnover posted an increase of 68% compared to the third quarter of 2004, at EUR18.4 million versus EUR10.9 million respectively.

The ongoing cost containment effort of the Group is apparent in the results. The operating cost (excluding depreciation) of the Group for 9M 2005 was EUR20.4 million vs. EUR23.7 million in 9M 2004, a decrease of 14%. It is worth noting that in the third quarter 2005, the Group's operating costs were EUR5.9 million vs. EUR8.0 million at the same period last year, posting a decrease of 25%.

The positive outlook is true also for the Group's earnings before interest and tax (EBIT), which in the 9M 2005 were increased by 73% at EUR27.1 million vs. EUR15.6 million in 9M 2004. In the third quarter 2005 the Group's EBIT came in at EUR10.6 million vs. EUR1.6 million in the same period last year, posting an impressive increase of 584%.

The parent company, in its financial statements for 9Μ 2005, shows dividend income of EUR56.8 million against EUR26.6 million in 9Μ 2004. The Group's net before tax profits amount to EUR55.8 million against EUR32.4 million in 9Μ 2004. Finally, the Group's net after tax profits amount to EUR55.6 million against EUR29.5 million in 9Μ 2004.