Wednesday, 30 August 2001

+++ INTRACOM Group of Companies +++

H1 2001 : Significant growth of Sales & EBITDA

• Sales : GRD 146.0 billion + 35 %
• EBITDA : GRD 37.6 billion + 26 %

The INTRACOM Group of companies' financial results have been remarkably positive in the first half of 2001. According to the Consolidated Financial Statements, Group sales reached GRD 146.0 billion, compared to GRD 107.9 billion in the relevant half of 2000, an increase of 35%. At the same time, earnings before interest, tax and depreciation (EBITDA) amounted to GRD 37.6 billion, from GRD 29.7 billion in the first half of 2000, presenting an increase of 26%.

Sales of the parent company INTRACOM S.A., increased significantly by 25% and totalled GRD 113.6 billion, against GRD to 90,9 billion in the same period of 2000. Earnings before interest, tax & depreciation (EBITDA) posted a remarkable increase of 24% and reached GRD 25.7 billion, compared to GRD 20.8 billion in the first half of 2000. It is noted that, since the beginning of 2001, the company signed new contracts worth approximately GRD 90 billion, a significant part of which refer to export activities, mainly towards Sweden, Hungary, Russia, Serbia, Bulgaria, Romania, Norway, Nepal, Jordan and Albania, and the rest are contracts for the domestic market. Subsequently, the company's orderbook amounts GRD 500 billion approximately.

In the first half of 2001, INTRACOM continued the implementation of its heavy investment plan. Indicatively, as it is also stated in the company's published financial statements, INTRACOM has already employed, for the financing of its three-year (1999-2001) investment plan, GRD 56.4 billion from GRD 60 billion raised from the 1999's rights issue, that is a percentage of 94% approximately.

Also, it must be noted that the merger between INTRACOM and INTRASOFT will be concluded before the end of 2001 and will result in the creation of a new firm with a strong capital structure and a dominant presence in both, telecommunications and information technologies, markets of South Eastern Europe.

For further information feel free to contact:
Dimitris Klonis
Manolis Terrovitis
Tel.: +30-210-68 60 000