Tuesday, 19 March 2002

+++ INTRACOM Special General Assembly 1 +++

Today, INTRACOM's Special General Assembly resolved upon purchasing own shares through the Athens Stock Exchange (ASE) up to the maximum percentage of 10% of the total number of company shares within the next 12 months. The price range for purchasing own shares will be each time defined by the area of the share's record limit-down and limit-up prices, that is, ranging between 4 and 18 EUR.

The Chairman and CEO of INTRACOM Group, Mr. Socrates Kokkalis, after having referred to the company's outstanding growth since its establishment, pointed out that predictions for this year's financial results appear extremely promising. According to top Management's predictions regarding the Consolidated Balance Sheet results, sales turnover will amount to 1.1 billion EUR, increased by 14% in comparison to last year's corresponding period of time, while profit before taxes will exceed 170 million EUR, increased by 10%. Additionally, Mr. Kokkalis underlined that on December 31st 2001, the remaining amount from the company's unaccomplished yet signed contracts came to 1.4 billion EUR.

During his speech, the Chairman of INTRACOM Group particularly emphasized on the Group's strategy and its following two aspects:

• The company 's expansion and intense activity abroad and
• The constant development of new competitive products.

Mr. Socrates Kokkalis pointed out another INTRACOM international success, its inclusion in three new international indices:

• Dow Jones STOXX 600 Index,
• FTSE4GOOD Europe Index, and
• FTSE4GOOD Global Index.

The first index includes 600 leading companies in the field. FTSE4Good Europe Index includes 250 large-sized European companies, while FTSE4Good Global Index lists 573 large world-class companies.

Mr. Kokkalis also stressed that, on account of the company's positive financial results, its stock-price marked a very satisfactory course despite the global recession and the downward course of the General Athens Stock Exchange Index. Nevertheless, he mentioned that just during the last few months, the company share value decreased significantly, with no apparent business reason but only due to an organized slanderous campaign against the company and the Chairman himself. He emphasized the fact that these accusers are just publishing organizations closely connected to companies which are typically unrelated to INTRACOM's business activities, whereas several politicians -"fortunately, few", as the Chairman characteristically said- assist them in launching these accusations.

Concluding his speech, Mr. Kokkalis expressed his confidence that all these slanders will finally collapse, as have done so before after the official release of a multitude of relevant previous court dismissals and juridical rulings. Finally, he stated that those who incite these organized attacks, instead of trying to "belittle" INTRACOM, should try to "grow" themselves, for -as he pointed out- "a powerful Greece is in need of a powerful economy based on prosperous Greek companies>>.