As of 12.8.2003 the share capital increase of the Company ALTE S.A. is realized through the issuance of 33,673,388 new common registered (CR) shares due to the Merger with the Companies KORONTZIS S.A., THEMELIO 79 S.A., DORIKI S.A., ODON & ODOSTROMATON S.A. and its 100% subsidiary Companies IRIS S.A., ANNEX S.A. and G. SHINAS S.A. The shareholders of ALTE SA for every 1 old common registered (CR) share held, will receive 0.269785800 additional newly issued common registered (CR) shares.
Start date of trading of the 33,673,388 new common registered (CR) shares is set on August 19, 2003.

According to Regulation 24/273/10.6.2003 of the Board of Directors of the Capital Market Commission and the Regulation No 45 of the ATHEX Board of Directors, the trading limits of the share price only for the trading session of the ATHEX on August 12, 2003, are set as follows:

Adjusted price : 1.30 euro

Closing price of the last day of trading (11/8/2003): 1.65 euro

Limit up +12% : 1.84 euro

Limit up +18% : 1.94 euro

Limit down -12% : 1.15 euro

Limit down -18% : 1.07 euro

According to the above and taking into account that in the OASIS subsystem as start price is considered the adjusted share price, the upper and lower trading limits are set as follows:

Start price : 1.30 euro

Limit up Α΄ + 41.54% : 1.84 euro

Limit up Β΄ + 49.23% : 1.94 euro

Limit down Α΄ -11.54% : 1.15 euro

Limit down Β΄ -17.69% : 1.07 euro

Detailed information for the merger is included in the related Prospectus that has been approved by the ATHEX BoD and is available at the ATHEX, the offices of the issuer, the offices of the consultant and www.ase.gr.