HELLENIC EXCHANGES HOLDINGS S.A. (HELEX) announced today the financial results for the first quarter of 2005, in accordance with International Accounting Standards (IAS). In the first quarter of 2005, the net profits of the Group, according to the audited financial statements, after the deduction of income tax, amounted to euros 7.805 million compared to euros 6.422 million in the corresponding period a year ago, up by some 22%.

It is noted that the company adjusted the corresponding balance sheet data of last year, according to IAS, in order for it to be comparable with the respective 2005 data.

The consolidated turnover, in the period from 1.1.2005 to 31.3.2005, reached euros 17.380 million versus euros 19.053 million in Q1 2004, while the Group's net pre-tax results stood at euros 10.352 million in Q1 2005 against euros 12.565 million in Q1 2004. In Q1 2005, turnover decreased by some 9% compared with the corresponding period last year due to a decrease of revenues generated from the derivatives market and from new listings and raises of share capital on the equities market. Operating cost was reduced by some 21%. Thus, the consolidated Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) reached euros 9.870 million in Q1 2005 versus euros 9.737 million in Q1 2004, while the Group?s operating result (EBIT) amounted to euros 9.088 million in Q1 2005 against euros 8.602 million in the respective period in 2004, increasing by some 6%. The financial statements of the parent company, after the absorption of the subsidiary company Systems Development & Support House of the Capital Market (ASYK), in the first quarter of 2005 posted revenues of euros 1.169 million versus euros 1.134 million in the first quarter of 2004. Also, in Q1 2005, the company?s revenues generated from dividends amounted to euros 56.830 million versus euros 22.549 million in Q1 2004. The company?s net pre-tax profits reached euros 57.562 million in Q1 2005 versus euros 27.273 million in Q1 2004. Finally, in the first quarter of 2005, the net after-tax profits of the company stood at euros 57.535 million versus euros 23.901 million in the corresponding period last year.

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