OPAP SA, in accordance with article 4 of decision 5/204/2000 of the Hellenic Capital Markets Commission and further to its announcements dated 20.06.2003 and 29.08.2003 published in the Athens Exchange Daily Price Bulletin, in relation to the conclusion of agreements for the acquisition of control over Cypriot fixed odds sports betting companies, announces the following:

After completion of the legal and financial due diligence, as well as the granting of all necessary regulatory approvals from the relevant authorities of the Republic of Cyprus, the following acquisitions were completed:

• Acquisition of 90% of the outstanding shares of Glory Leisure Holdings Ltd. for 16 million euros. The company offers fixed odds sports betting games in Cyprus, holding a leading position, through a network of 91 agents, 32 of which are also currently agents of OPAP SA. According to its audited financial statements, the company's EBITDA for the financial year 2002 was approximately 1.9 million euros.

• Acquisition of 20% of the outstanding shares of the Cypriot company Glory Technology Ltd. for ?10 million. The company is activated in the field of equipment technology and software in the management of fixed odds betting and other games. This acquisition was consummated following the exercise by OPAP SA of a relevant option granted in the context of the agreement with Glory Worldwide Holdings Ltd for the acquisition of control over Glory Leisure Holdings Ltd.

With the consummation of these acquisitions, which form part of our strategy for selective international expansion, OPAP SA:

• Strengthens its already existing position in Cyprus, a substantially developed fixed odds betting market.

• Acquires know-how in fixed odds betting, as well as in equipment technology and software for the management of fixed odds betting and other games.

• Creates the conditions for further expansion in other countries.