20 November 2008 - HELLENIC EXCHANGES S.A. informs investors that, as part of the on-going share buy-back program, approved by the Annual General Meeting of shareholders on 14.5.2008, and in accordance with §3 article 5 of the European Commission Regulation 2273/2003, due to the current market conditions, it may buy-back shares during the period from November 20^th up to and including November 27^th 2008 in excess of the 25% average daily volume limit, as specified in §2 of the abovementioned article.

The amount of shares bought back will not exceed the 50% daily volume limit (as specified in §2 of article 5 of European Commission Regulation 2273/2003).