The Board of Directors of Hellenic Exchanges Holding S.A. (HELEX) has called for an EGM on Friday, November 23, 2001. The main subject of the EGM is a share capital share increase with the contribution of the shares of the companies ?Athens Derivatives Exchange S.A.?, ?Central Securities Depository S.A.?, Athens Derivatives Exchange Clearing House S.A.?, ?Thessaloniki Stock Exchange Centre S.A.? and ?Systems Development and Support House of Capital Market S.A.?.

The process, which is recommended for the share capital increase, includes the contribution of shares of the above companies, so that the shareholders of these companies will receive HELEX shares. Through this procedure, HELEX, the parent company, will significantly improve its capital structure and its profitability, after the elimination of the minority shareholder proportion, which amounts to 25% of the consolidated profits before taxes.

A special committee, provisioned by law, will perform the valuation of the group's companies, while HELEX management has additionally assigned the valuation to Price Waterhouse Coopers in order to specify the shares' fair value.

The share capital increase is incorporated in the financial and structural reorganisation of the HELEX group companies, which in turn aims to centralize the group's management and activities under HELEX. This will create economies of scale from the reduction in operational expenses, rationalization of activities and provided services, united decision-making procedures, improved utilization of the labour force and common marketing and sales methods.