A presentation of the Greek Market of the Emerging Capital Markets (EAGAK) took place on Wednesday July 11, 2001. The presentation was attended by listed companies and banks and the opening speech was made by the Vice president of the Athens Stock Exchange Mrs Lito Ioannidou, while Mr. Vassilis Margaris, General Manager of the Thessalonica Stock Exchange Centre (TSEC) and Mr Pandelis Manis, in charge of Development of Business at the Thessalonica Stock Exchange Centre, presented the EAGAK.

The EAGAK is a new organized market of the Athens Stock Exchange that is a point of attraction for companies that are registered in countries of Southeastern Europe and the Middle East and serves as the gateway, for the entrance of the most dynamic businesses registered in non · European Union member countries, in the eurozone.

The difference of the EAGAK from the other markets of the Athens Stock Exchange lies in the securities listed on it. The following will be traded on the EAGAK:

• The Greek Depository Receipts (ELPIS). They are negotiable securities representing shares that have been issued by companies registered overseas.
• The Units of Greek Funds of Emerging Markets (EKAA). They are securities that operate like the Mutual Funds, with the difference that they are themselves listed on the Stock Exchange.
• The Shares of Portfolio Investment Companies of Emerging Markets (EXAA). They mainly invest in emerging markets with prospects of growth.

The operation of the EAGAK is supported by the Thessalonica Stock Exchange Centre. In order to attract companies, the Thessalonica Stock Exchange Centre will organize presentations in countries of the Southeastern Europe from next September, starting with Cyprus and the Republic of Czech.

The presentation at the Athens Stock Exchange was sponsored by the Laiki Bank of Cyprus.