The Boards of Directors of the companies "Hellas on Line Societe Anonyme Sale of Telecommunications and IT Equipment and Services" ("Hellas on Line"), "Teledome Systems of Telecommunications - Software and Telematics Commercial and Industrial Societe Anonyme" ("Teledome") and "Unibrain Greek Societe Anonyme Production of Software and Electronic Systems of Multiple Uses" ("Unibrain") announce that they have decided their merger by absorption of Hellas on Line and Teledome by Unibrain, a company listed on the Athens Stock Exchange, and with transformation balance sheet dated 15 August 2007. For the purposes of the merger, the companies under transformation have been valuated by their Boards of Directors as follows:
Hellas on Line: 180 million euros.
Teledome: 24 million euros.
Unibrain: 26 million euros.
It is noted that the valuation of Unibrain was based on the average stock quotation of the last trimester May - July 2007.
The Boards of Directors of the companies under transformation shall assign to independent auditors the issue of an opinion as to the fairness and justness of their valuations and of the consequent share exchange ratio.
The consummation of the merger is subject to the approval of the General Meetings of the shareholders of the three companies, which shall be called to decide the soonest possible pursuant to the legislation in force.