HELEX Board of Directors, on its June 29, 2004 meeting, initiated the process of reshuffling the Athens Exchange management, which is expected to be completed within the coming month of July. More specifically:

Mr Gikas Manalis, the General Manager of HELLENIC EXCHANGES, was elected as new Board Member, in replacement of Mr Panayotis Alexakis who has resigned.

Pricewaterhousecoopers was assigned the task to search, in local and international markets, for the candidate to fill the position of executive chairman of the Exchange.

HELEX Chairman, Mr Iakovos Georganas, will temporarily assume all executive competencies in the Group?s companies (Hellenic Exchanges, Athens Exchange, Central Securities Depository, Athens Derivatives Exchange Clearing House and Thessaloniki Stock Exchange Centre).