This reduction is due mainly to the overall reduction in transaction activity in the cash market of Athens Exchange. In particular, the average daily value of transactions in H1 2008 was €414m vs. to €440m in the corresponding period last year. Revenue from trading in the stock market amounted to €14m, reduced by 13% compared to H1 2007 (€16.2m). Revenue from clearing and settlement in the stock market amounted to €24.3m, reduced by 9% compared to the corresponding period last year (€26.5m). Revenue from listed companies (which includes listed company subscriptions and revenue from rights issues and new listings) amounted to €5.4m vs. €10.7m in H1 2007, posting a 50% reduction.

Activity in the derivatives market (trading and clearing) was up, posting a large increase (average daily number of contracts 46.6 thousand in H1 2008 vs. 34 thousand in the corresponding period last year), and as a result the corresponding revenue increased by 20% (€5.7m vs. €4.7m).

Total operating expenses amounted to €13.6m vs. 13.1m in the corresponding period last year, a 4% increase. The operating expenses in H1 2008 include non-repeating expenses of €619 thousand which were not present in the corresponding period last year. Excluding the abovementioned amounts, operating expenses would have posted a 1% reduction.

Thus, the operating profit (EBIT) of the Group in H1 2008 was €44.7m compared to €52.6m in the corresponding period last year, reduced by 15%.

HELEX's financial statements are posted on the Company's website (www.helex.gr).