Athens, October 17, 2001 ·The ALTEC Group (ALTEC GA) (AICr.AT) announces that its software business unit has undertaken the computer information system implementation of the MARKETRENDS Group, one of the largest insurance groups in Cyprus and listed in the Cyprus Stock Exchange. This agreement concerns the computer and IT needs of the companies Liberty Life Insurance Ltd, Marketrends Insurance Ltd and Marketrends Insurance Hellas S.A.

Given the current competitive environment for the insurance sector, Marketrends has selected UNISOFT INSURANCE SOFTWARE [UNIS] to fully cover its operating and business demands.

The new software product is based on the insurance management program UNISOFT INSURANCE SOFTWARE and constitutes a uniform number of applications that are totally compatible and cooperate with each other, which cover all insurance activities of the general insurance and life insurance sectors. The new program is comprehensive, high-speed, user-friendly and flexible, enabling businesses to respond to the demands of the business environment. The product is multi-lingual to cover the demands of the modern multinational operating environment. In addition, it is fully compatible to the contemporary European institutional and legal framework.

UNISOFT INSURANCE SOFTWARE and INSURANCE BROKERAGE SOFTWARE (the cutting-edge software application for brokerage firms), are part of ALTEC's line integrated solution products UNISOFT SOFTWARE for the insurance market. Altec has an established presence in the insurance industry, having signed many cooperation contracts with many insurance and brokerage firms, including among others: AON HELLAS INSURANCE BROKERAGE Ltd, BROKINGS 1 INSURANCE AGENTS Ltd, DODEKANISIAKI INSURANCE Ltd, EFG INSURANCE SERVICES S.A., EFG ERGASIAS INSURANCE SERVICES S.A., EUROPE INSURANCE COMPANY S.A., EXECUTIVE INSURANCE BROKERS S.A.-SFAKIANAKIS, GERLING · KONZERN ALGEMEINE / BRANCH OF GREECE, HYUNDAI HELLAS · P & R DAVARI AGENCY, INTERSALONIKA INSURANCES S.A., KAPOUANO INSURANCE BROKERS S.A., KOUBAS EUROBROKERS INSURANCE CONSULTING SERVICES S.A., MUTUAL INSURANCE BROKERS, BANK OF CYRPUS LTD etc.