Following the conversations that were concluded on February 17, 2002 in Thessalonica between the representatives of Skopje Stock Exchange and the executives of Thessaloniki Stock Exchange, the CEO of Skopje Stock Exchange Mr. E. Zografski presented to the Board of Directors on its session last Tuesday, the Minutes of the conversation along with the proposal of the Hellenic side.
The BoD of the local Stock Exchange accepted the Hellenic Proposal, which was announced to the press of Skopje at a press conference and was the most significant news of the day.
Yesterday, Mr. Zografski communicated with the representatives of the Hellenic Exchanges Holding S.A., in order to announce the decision of the local Stock Exchange and invited the President of the ASE Mr. P. Alexakis at Skopje on March 28, 2002, on the anniversary for the completion of six years since the first trading session of the Skopje Stock Exchange. In the frame of the special event, the Memorandum of Understanding between the two Exchanges will be signed. The Memorandum of Understanding among other issues, states the following:

Apart from the promotion of the two Stock Exchanges in the area and the creation of a communication path between them, it states the information exchange on issues, concerning the listing of companies, the trading and clearance of transactions in order to increase the liquidity and the competitiveness of both Stock Exchanges, in the European and the international environment.
Also, the provision of know-how, the training programs for executives of the two Stock Exchanges, as well as the joint work team, which will work in order to form a regulatory framework, concerning the dual listing, are issues that are mentioned in the MoU.

Mr. P. Alexakis accepted the invitation of Mr. Zografski and will go along with the General Director of Thessaloniki Stock Exchange Center Mr. V. Margaris to Skopje on March 28, 2002, in order to sign the MoU, to set the joint work teams that will materialize the agreement as well as the time schedules.

Thessaloniki Stock Exchange Center, which has undertaken the planning and the materialization of the preliminary contacts with the neighboring stock exchange, will be the liaison between the two markets, the dual listing on the two markets, as well as the promotion of the Greek Stock Exchange in the neighboring country.
There is also the thought that the purchase of the 10% of the shares of Skopje Stock Exchange by Hellenic Exchanges Holdings S.A. is realized by the Thessaloniki Stock Exchange, which will be the only company of the Group that will participate in the share capital of an International Stock Exchange.
This fact indicates the faith of the Administration of Hellenic Exchanges Holding S.A. to the role of Thessaloniki Stock Exchange, as the spear point of the co-operations in the Balkan area.