COMMENCEMENT OF TRADING IN THE ATHENS STOCK EXCHANGE OF THE NEW SHARES FROM THE RIGHTS ISSUE OF ASPIS EPENDITIKI AEEX

From Wednesday, 14 March 2001 the company's 17,070,354 new common stock, bearer form, shares will commence trading in the Athens Stock Exchange. These new shares came about from the rights issue that was approved at the Rescheduled Shareholders General Meeting of 12 July 2000. The new shares were made available with the right of preference for the old shareholders in the proportion of 5 new shares for each one old share, and at a price of drachmas 1,120 per new share.On 14/3/2001, the new shares will be credited to the accounts of the shareholders of the company through the Central Securities Depository S.A. system. The total number of common stock, bearer form, shares of the company after the crediting of the new shares will be 21,445,354 shares.Please contact the offices of the company (Shareholder Relations Department-Mr. E. Pantazopoulos at 617 6326) for any questions, or in the case that a shareholder determines that his account has not been credited correctly with the new shares.

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