The financial results of the company for the first nine months of the year 2000 (September 2000) were positive, confirming forecasts about the company's performance.Profits before tax amount to GRD 7.369 million and profits after tax amount to GRD 6.928 million. Based on these results, the company will distribute an interim (pre-paid) dividend of GRD 65 per share. The dividend is considered satisfactory and reflects the Group?s profitability for the 1999 period.Eligible to receive pre-paid (interim) dividend are shareholders of record on a date that will be soon announced by the company. It is noted that earnings before tax are reduced compared to those of the first semester of 2000 (June 2000). This is a direct result of the 100% amortization of establishment expenses, share capital increase and listing expenses, which was a prerequisite by Law for dividend distribution. Administration and distribution costs are expected to remain at current levels whilst Group profitability is expected to remain satisfactory. These two factors will produce a positive result for the fiscal year 2001, the first fiscal period of the Hellenic Exchanges Holdings S.A. In order to be able to assess the Group?s financials, one should take into account the consolidated figures, which will be released during the following days. In spite of the market?s negative conjuncture circumstances that have had a direct impact on the Group?s revenues, consolidated data are considered satisfactory. According to the Group Budget for 2000, sales are expected to reach GRD 58 billion and profit before tax GRD 45.8 billion respectively. The year?s final figures are expected to be close to the estimated ones. For the time being, HELEX shares trade at a temporarily low price with a price per earnings (p/e) ratio at 4.8, a valuation that is considered attractive. The Groups? remarkable profitability even when compared to other Stock Exchange companies, the synergies that will result from the Group's structural reorganization, the introduction of new markets and products such as the Greek Market of the Emerging Capital Markets (EAGAK), the Greek Depository Certificates (ELPIS), the trading of the shares of investment funds of the Emerging Markets and Mutual Fund companies of the Emerging markets support the estimates that the company's share promises to mid-term investors a more than satisfactory return.