BETANET's Extraordinary Shareholders General Meeting, called to consider and decide upon the subjects of the daily agenda at the company's registered offices on the 30th of October 2003 and at 16:00 p.m. having a quorum of 74,34%, decided the following:

1. The issuance by the company of a 12 million euros common bond loan through private placement having a five-year duration. The issuance will be hosted by EGF Telesis Finance S.A. The Shareholders' Meeting authorized the Board of Directors to decide on the specific terms and clauses of the bond loan issuance stated above.

It is noted that the raised funds will be used for the partial conversion of the existing short term debt to long-term and the simultaneous improvement of the relevant cost, the partial financing of the company?s new investment program for the period 2004-2005, the increase of working capital and the capital support of the 100% subsidiary EKAT-ETAN S.A.

2. The amendment of article 11 paragraph 1, article 18 paragraph 3 and article 21 paragraph 1 of the company's Memorandum of Association (Statutes), in order to comply with the provisions of Law 2190/1920 as it has been modified and completed by Law 3156/2003.