OPAP S.A. announces today that, as a result of negotiations with the federation of syndicates of its agents, OPAP has decided that Kino will be played throughout its existing agency network and as a result it has revised its plan for the rollout of Kino in Greece and Cyprus.

Under the revised plan, a four-month pilot program, with three phases, will commence in early July 2003. The first phase will consist of internal testing of the software, hardware and decoders for the broadcast of the results of the game. The second phase, which is expected to commence in the second half of July 2003, will consist of further testing with the participation of a limited number of agents. The third phase, which is expected to commence in late August, will involve a total of 250 outlets, including both existing agents and other outlets (such as cafes).

During this third phase, we expect to be able to offer our paying customers Kino for the first time. Following this pilot program, which is expected to end in October 2003, we intend to roll out Kino to all of our existing agents as well as to additional outlets beyond our agency network.