ANNOUNCEMENT

H1 2005 FINANCIAL STATEMENTS

9 August 2005 - The BoD of HELLENIC EXCHANGES HOLDINGS S.A. (HELEX) approved today the financial results for the first half of 2005, in accordance with International Accounting Standards (IAS).

The consolidated turnover, in the period from January 1st 2005 to June 30th 2005, amounted to €34.2 million versus €33.6 million in H1 2004.

The increase in the turnover by 2% is mainly due to the increase in income from the cash market of Athens Exchange (ATHEX) by 19% (average value of transactions €189 million versus 157 million in H1 2004). On the other hand, turnover from the ATHEX derivatives market is significantly reduced, due to a 10% decrease in volume and a fee reduction, in effect from January 1st 2005. Other income is also significantly reduced, due to the reduction in off-exchange transactions revenues, and the lack of income from European Union subsidized projects.

As far as operating cost is concerned, there was a further 9% reduction, at €17.8 million vs. €19.6 million in H1 2004.

The net profit of the Group in H1 2005, according to the audited financial statements, after taxes and minority interests amounted to €13.1 million vs. €14.4 million in H1 2004. This reduction is, mainly, due to last year's one-off financial revenues amounting to €6.5 million.

The parent company, in its financial statements for H1 2005, shows dividend income of €56.8 million vs. €26.6 million in H1 2004. The Group's net before tax profits amount to €57.0 million vs. €31.2 million in H1 2004. Finally, the Group's net after tax profits amount to €56.8 vs. €28.5 in H1 2004.