Athens, September 7, 2001 · ALTEC S.A. (ALTEC GA) (AICr.AT) announces that the merger through absorption of the companies SYSWARE S.A., UNISOFT S.A. and STAT S.A. by ALTEC S.A. is now at the final stage. The Board of Directors of A.S.E. during its last meeting approved the Merger Prospectus, according to which, ALTEC S.A. proceeds with a Share Capital increase by issuing 34,653,000 new common registered shares, with a nominal value of 150 GrD.

The shareholders of the absorbing company ALTEC S.A. will swap one (1) old share to 1.0779 new shares, while the shareholders of the absorbed company SYSWARE S.A. will swap one (1) old share to 0.7876 new shares. The shareholders of the absorbed company UNISOFT S.A. will exchange their shares with a swap ratio of 1:0.8230 new shares and the shareholders of STAT S.A. will exchange their shares with a swap ratio of 1:0.2396 new shares.

Following the Merger, the Share Capital of ALTEC S.A. will amount to 15,052,950,000 GrD (100,353,000 common registered shares for a nominal value of 150 GrD per share).

The last step for the completion of the merger is the approval of the Merger Contract Plan for the four companies, that is still pending. The required documents have already been submitted to the Ministry of Development as far as the A.S.E. listed companies (ALTEC S.A., SYSWARE S.A., UNISOFT S.A.) are concerned, and to the Prefecture of Athens (Eastern Sector) for the non-listed company (STAT S.A.) for listing to the Registry of Corporations.

The Merger will take place, according to the provisions of articles 68 paragraph 2 and 69 until 77 of the Law 2190/1920 and the provisions of articles 1-5 of Law 2166/1993 through the consolidation of the assets and liabilities accounts of the merged companies, as they appear on the Transformation Balance Sheet on 03/16/2001.

At the operational level, the procedures for the materialization of the merger are advancing vigorously, and the positive effects have already been widely confirmed at H1 2001 results.