Athens, February 28^th 2002

ANNOUNCEMENT

FY 2001 FINANCIAL STATEMENTS

Based on the results of the fiscal year, which ended on December 31, 2001, Hellenic Exchanges announces:

Net profits before taxes of HELEX, the parent company, for its first period 29.3.2000 - 31.12.2001 amount to € 49.954 million (GRD 16.3 billion).

Consolidated turnover amounts to ? 78.897 million (GRD 26.9 billion), compared with € 154.393 million (GRD 52.6 billion) of the previous period, presenting a 49% decrease. Consolidated profits before taxes and minority rights amount to € 28.801 million (GRD 9.8 billion) compared to € 119.106 million (GRD 40.6 billion), presenting a 76% decline. Consolidated net profits before taxes, after the deduction of minority rights, amount to € 25.579 million (GRD 8.7 billion), compared to € 87.234 million (GRD 29.7 billion) for 2000, presenting a 71% decrease.

It must be stated that HELEX has closed its first fiscal year and therefore, not all balance sheet figures can be compared with those of 31.12.2000.

Based on the company's profits, HELEX management will suggest a dividend of € 0.18 (GRD 61.34) per share at the General Meeting. An interim dividend of € 0.19 (GRD 65) has already been paid to the shareholders of December 14, 2000.

The consolidated financial results and specifically turnover, have declined due to the non-favorable international and Greek concurrence, which led to a decrease in the value of transactions. In the domestic market, there was a decline in the value of transactions and in the average capitalisation of listed companies by 58% and 32% in relation to last year's period. The drastic decrease in share capital increases of listed companies or of companies to be listed, the value of which is 84% less than that of the 2000 period, played a significant role in the decline of the Group's turnover.

HELEX completed its share capital increase by contribution in kind in January 2002. The amount of the increase is € 164.494 million (GRD 56.05 billion) and shareholders' equity is expected to reach € 470 million (GRD 160 billion). Due to the fact that up to December 31, 2001 the increase was only partially completed, its results have not been fully included neither in the shareholders? equity, nor in the profitability of the parent company.

The HELEX Group has proceeded with a high amount of operational expenses during 2001, because of the reorganisation of its companies, in order to be able to meet the needs of a developed market. The Group has hired specialised personnel, which is able to offer the high quality services that our market needs. Specifically, a Marketing department, an Investor Support department, a Sales department, a Research & Development department and a Strategic Development department have been created in the ASE. Furthermore, the Group, for the first time, has a complete marketing programme with the objective of promoting its activities in Greece and abroad. At the Thessaloniki Stock Exchange Centre, the foundations have been placed for its expansion into larger offices with a greater number of personnel. Lastly, we must not forget the obliged depreciation of establishment expenses, share capital increase expenses and listing of the parent company in the ASE expenses, which amount to € 5.272 million (GRD 1.8 billion) in order for the interim dividend to be delivered.