Share buy-back - exceeding the 25% limit - 12 Dec 2008

Announcement
Share buy-back - exceeding the 25% limit
12 December 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 December 12th up to and including December 31st 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).