Athens, January 16^th 2004

ANNOUNCEMENT

INVITATION TO AN EXTRAORDINARY SHAREHOLDERS' MEETING 09/02/2004

According to the law and to the company's articles of association, and after the decision of 15/1/2004 of the company's Board of Directors, the shareholders of the company "Hellenic Exchanges Holding S.A." are invited to participate in the Extraordinary General Meeting, which will take place on Monday, the 9th of February 2004, at 16:30 p.m., at 10, Sophocleous Street, Athens, in order to discuss and decide upon the following issues on the agenda:

1. Pre-approval of contracts, according to the art. 23(a) of the Law 2190/20, as amended

2. Miscellaneous announcements.

Shareholders wishing to participate in the Extraordinary General Meeting of the company must bind over their shares either via their Operator (where the shares are recorded in the Operator's Account of the Investor Share in the Dematerialized Securities System) or via the Central Securities Depository (where the shares are recorded in the Special Account of the Investor Share in the Dematerialized Securities System) and furnish the relevant blocking certificates, for the participation in the general meeting, from the Central Securities Depository as well as any representation documents to the offices of the company (4th floor, 1 Pesmazoglou st.) no later than Tuesday, 3.2.2004.

Athens, 15.1.2004

The Board of Directors