The ATHEX BoD on its session on 3.10.2003 approved the following changes in the composition of the shares'' time spreads, in the context of Regulation 95/2002.

1. According to article no 4, point 2 of the Regulation the following eighteen (18) shares will be transferred from the 3-hour continuous trading to the 5-hour continuous trading:

• REDS S.A. (CB)

• BALKAN EXPORT S.A. (CR)

• SELECTED TEXTILE INDUSTRIES ASSOCIATION S.A. (CB)

• P&K PORTFOLIO INVESTMENT SA. (CR)

• ASPIS PRONIA S.A. (CR)

• INTERTECH S.A. INTERNATIONAL TECHNOLOGY S.A. (CR)

• ALFA ALFA HOLDINGS (CR)

• VIVERE ENTERTAINMENT S.A. (CB)

• HELLENIC CABLES S.A. (CR)

• ALSINCO S.A. (CR)

• GALAXIDI FISHFARMING S.A.(CR)

• MESOCHORITIS BROS S.A. (CR)

• TEXAPRET S.A. (CR)

• EUROPEAN TECHNICAL S.A. (CR)

• EDRASIS C. PSALLIDAS S.A. (CR)

• EVROFARMA S.A. (CR)

• INVESTMENT DEVELOPMENT FUND S.A. (CB)

• MARITIME COMPANY OF LESVOS (CR)

2. According to article 5, point 1 of the Regulation, the following three (3) shares will be transferred from the 5-hour trading to the 3-hour trading:

• ELEKTRA IMPORTING S.A. (CR)

• DOMUS CLOSED END FUND (CR)

• RAINBOW COMPUTERS S.A. (CR)

The above changes will be in effect as of 6.10.2003

As regards the operation of the time spreads, the following are reminded:

A. In the 5-hour continuous trading, 11 a.m. to 4p.m. (local time) are classified the shares with trading spread less or equal to percentage unit which is the annually defined limit for 2003, whereas

B. In the 3-hour continuous trading in two periods, from 11 a.m. to 11: 30 a.m. and from 1:30 p.m. to 4.p.m. (local time), are classified the shares with trading spread more than two percentage units. Between these two periods, bid & ask orders are gathered in the trading system so that the starting price per share is defined at the start of the second period (pre-opening session).

C. Securities, which are traded already in the 3-hour trading status, are classified in the 5-hour trading status, if their Average Period Spread is less or equal to the 80% of the defined one annually.

D. As period for the first evaluation, it was considered the period from 2.1.2003 until 30.4.2003, whereas for the second evaluation the corresponding period is from 2.5.2003 until 30.9.2003. The period for the next evaluation is 1.10.2003 until 31.3.2004.

It is also noted that:It is also noted that:

1. Shares that are already traded in the 3-hour trading session will be transferred in the 5-hour trading session, if a market maker contract is conducted according to the related regulations of the Athens Exchange and the Capital Market Commission, irrelevant from the average daily spread. In these cases, the date of classification of the share in the 5-hour continuous trading will be the date since which, according to the related regulation of the ATHEX BoD, the market making process of the share starts.

2. In the ATHEX Composite Index, the ATHEX Parallel Market Price Index, the sector indices and FTSE/ASE Indices, only the shares which are traded in the 5-hour continuous trading are eligible to participate.

3. Some of the statistical data for the shares are presented below: