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Press Release  

HELEX Q1 2007 financial results
EUR23.9 ml. net after tax profits

May 7, 2007 - The consolidated net after tax profits of HELEX in Q1 2007 amounted to EUR23.9 ml. vs. EUR14.3 ml. in the corresponding period last year, increased by 66%.

The average daily value of transactions was EUR457 ml. in Q1 2007 vs. EUR394 in Q1 2006, posting a 16% increase. The consolidated turnover increased by 41% and amounted to EUR41.7 ml. vs. EUR29.6 ml. in Q1 2006. This increase is mainly due to the significant increase of revenue from listed companies (EUR7.2 ml. in Q1 2007 vs. EUR2.1 ml. in Q1 2006). This revenue category includes revenues from the increase of capitalization of listed companies (EUR1.6 ml. in Q1 2007 vs. EUR1.2 ml. last year), revenue from share capital increases (EUR3.6 ml. in Q1 2007 vs. EUR0.6 ml. in the corresponding period last year) and revenue from new listings in the amount of EUR1.8 ml. in Q1 2007, vs. zero in the corresponding period last year. Revenues from clearing in the cash market posted a 15% increase (EUR14.3 ml. in Q1 2007 vs. EUR12.4 ml. in Q1 2006) as well as other revenues (EUR4.9 ml. vs. EUR0.4 ml. in the corresponding period last year), which is mainly due to non-repeating revenue from off-exchange transactions.

It should be noted that, due to the new pricing policy of the Group, which went into effect on 1.1.2007, the revenues from stock transactions are reduced by 22% (EUR8.9 ml. in Q1 2007 vs. EUR11.4 ml. in Q1 2006) despite the large increase in the volume of transactions in the first quarter.

The operating expenses of the Group amounted to EUR6.56 ml. in Q1 2007 vs. EUR6.60 ml. in the corresponding period last year, posting a small reduction, as a result of the continuing efforts by management to contain them. Due to the upcoming relocation to the new, Company owned, office building, the Company is implementing an upgrade of the technological infrastructure and systems of the Group. The extraordinary expenses for this upgrade approached EUR1.4 ml. in the first quarter of the current year.

Thus, the operating profit (EBIT) of the Group was EUR31.6 ml. in Q1 2007 compared to EUR20.5 ml. in Q1 2006, increased by 54%.

HELEX's financial statements are posted on the Company's website (http://www.helex.gr/).