Athens, June 24^th 2004

ANNOUNCEMENT

3rd ANNUAL GENERAL MEETING

The Annual General Meeting of Shareholders of Hellenic Exchanges S.A. was held today, witha a wide participation by shareholders (53%). The General Meeting approved the management of the period from 1.1.2003 to 31.12.2003.

The General Meeting approved the temporary appointment by the BoD of Messrs. Vassilios Drougas, Antonios Kaminaris, Nikolaos Beis and Ioannis Pehlivanidis as members of the BoD in replacement of members who resigned.

Following the end of voting, the Chairman of the General Meeeting, Mr Iakovos Georganas, announced the resignation of Mr Panayotis Alexakis from all posts he holds in the boards of directors of the HELEX Group.

Mr Georganas mentioned that the Board of Directors and the General Meeting of shareholders of "Athens Exchange S.A." will decide on the replacement of Mr Alexakis by the end of the month.