Executives from top notch investment houses attended the Forum. An indicative list includes Alliance Capital Management, J.P. Morgan Investment Management Inc., College Retirement Equities Fund (TIAA-CREF), New Jersey Division Of Investment, Amber Capital, Tiger Management, Eight Winds Capital Management, Tremblant Capital, Fortress Investment Group, Optima Fund Management, Mackay Shields, Wyper Capital Management, Sierra Global Management, Millgate Capital, Blackrock Financial Management, Lansdowne Partners Limited, Savannah-Baltimore Capital Management, Lazard Asset Management, Adirondack Capital Management, Bartholomew International Investments Limited, Fiduciary Trust Company International, Tocqueville Asset Management, Maverick Capital, TCS Capital Management, Austin Investment Management, Burnham Asset Management, Clay Finlay, Caxton Associates, Julius Baer Investment Management, Trilogy Advisors, Fidelity Management & Research, Oppenheimer Capital, Credit Suisse Asset Management, Aldenville Capital, Jana Partners, UBS Global Asset Management, Citigroup Global Asset Management, Global Securities Advisors, Citadel Investment Group, Williamson Mcaree Investment Partners, Fiduciary Trust and many others.

Also, senior executives from other financial, industrial and commercial firms attended the event. An indicative list includes Apple Group, Bank of America, Bank of New York, American Express, Bank of Tokyo, Business Links International, Cantor Fitzegarald, Citibank, Citigroup, Continental American Capital Corp., Deloitte Financial Advisors, Deloitte Touche, Deutsche Bank, Douglas Eliman, Duff & Phelps, Standard & Poor's, Empire State Development, Fantis Foods, Ford, Frontier Pacific Mining Corp, General Maritime, Goldman Sachs, Moody's, Healy & Baillie, Seward & Kissel, Holland Knight, HSBC, Hill & Knowlton, Julius Baer, Fitch Investor Services, Keefe Bruyette & Woods, Metlife, Prudential, QED Associates, Robbotti and Company, Southern Star Shipping, Sterling National Bank, Royal bank of Scotland, Sony, US & Foreign Commercial Service, US Department of Commerce, Mr. Joseph Ficalora, Chairman and CEO of New York Community Bank that acquired Atlantic Bank, until now the US subsidiary of National Bank of Greece, and many others.

Among the prominent Greek American businessmen in attendance were Mr. John Katsimatides, of the Red Apple Group, Mr. Spyros Voutsinas, member of the Board of Directors of the New York Community Bank, Mr. Spyros Mylonas, shipowner, President of Ionian Maritime, Mr. Michael Jacharis, President of "Kos Pharmaceuticals", Mr. George Bechrakis, President of Gainsborough Investments Inc., Mr. Luttens, President of Smithfieldfoods, representatives of the "Leadership 100 Association", which includes among its members the most eminent and affluent Greek Americans.

Ms. Karen Maloney, Congresswoman, honored the Forum with her presence and made brief remarks.

A series of one-to-one meetings were organized during the Forum among the Minister of Economy and Finance, Mr. Alogoskoufis, his staff and Greek companies with American investors.

Citigroup (Mr. Lambros Papadopoulos), Credit Suisse First Boston (Mr. Christos Megalou), Merrill Lynch (Mr. Linos Lekkas) ?a? Morgan Stanley (Mr. Panos Goutakis) put together groups of investors who attended the Forum and also had meetings with the presenters. Mr. Lambros Papadopoulos of Citigroup presented on the topic of "Investment opportunities in the Greek stock markets".

The topic of the Forum was on business and investment opportunities in Greece, following the Olympic Games 2004, as well as in Southeastern Europe. This Forum updates the US investment and business communities on recent Greek legislation facilitating investments such as the New Development Act, the Tax and the Labor Reform Act and the Public-Private Sector Partnership initiative. Moreover about the capital markets and stock exchange developments, as well as sector and company developments through relevant presentations.

The group of presenters included senior government officials and top executives from key industries. Presentations were made by the following:

• Mr. George Alogoskoufis, Minister of Economy and Finance of Greece, as the keynote speaker of the Forum, and the centre of a series of events organized within the context of the event and in his honor.
• Mr. Panos Panagiotopoulos, Minister of Employment & Social Protection, as the inaugural speaker,
• Mr. Dimitris Avramopoulos, Minister of Tourism, as the official closing speaker.
• Mr. Panos Leivadas, Secretary General of Information
• Mr. Loukas Papazoglou, Secretary General of Privatization
• Mr. Ploutarchos Sakelaris, Chairman of the Council of Economic Experts
• Mr. Spyros Capralos, Chairman of the Athens Exchange
• Mr. Dimitris Daskalopoulos, Vice Chairman of the Federation of Greek Industries
• the CEO of OPAP, Mr. Basile Neiadas,
• the CEO of Hellenic Petroleum, Mr. Panos Cavoulacos,
• the CEO of the Hellenic Aerospace Industry, Mr. Tassos Philippakos,
• the Chairman of the Greek Postal Savings Bank, Mr. Panos Tsoupidis,
• the CEO of Neochimiki - L.V. Lavrentiadis S.A., Dr. Lavrentis Lavrentiadis,
• the Group CFO of S&B Industrial Minerals, Mr. Sotiris Hatzikos,
• the Head of Investor Relations of OTE - Hellenic Telecommunications Organization, Mr. Dimitris Tzelepis.
• the Investment Director of Global Finance, Mr. Mihalis Madianos,
• the Director of Citigroup Investment Research, Mr. Lambros Papadopoulos
• the Senior Partner of the Texas Pacific Group, Mr. Philippe Costeletos presenting the Group's investment in Greece through the acquisition of TIM Hellas and Q Telecom - the largest direct private equity investment in Greece.

• Mr. Paul Maidment - Executive Editor Forbes Magazine, Editor of Forbes.com
• Mr. Gregg Krowitz - Managing Director, International, New York Stock Exchange
• Mr. Chris Brown - President & CEO, Institutional Investor

The Forum is widely publicized by media and international financial media in the US, Europe and Greece. Media Sponsors for this year included Institutional Investor, the Financial Times and Forbes who actively supported and promoted the Forum contributing to its success.

Furthermore, the fact that panel moderators were top executives of Forbes, Institutional Investor and NYSE enhanced further the Forum's visibility.

The keen interest of American investors in developments in Greece was exhibited by the number of reporters covering the event, the number of interviews taken before and during the Forum, as well as by the overall promotion given by the media partners.

The Minister Mr. Alogoskoufis was interviewed by many, major financial media such as Forbes TV, Bloomberg, ROB TV, BBC World News, CBS Market Watch as well as by the NYSE media.

The contribution of the New York Stock Exchange was also material through the events it hosted and by offering the Closing Bell on the date of the Forum to the Minister of Economy and Finance, an event of unique visibility among the global investment community.

In the context of the Forum the New York press office organised a Press Conference with Greek and Greek-American media at the Metropolitan Club.

Greek media sponsors were the National Herald, the National Greek TV, KEFALAIO and Insider magazines and euro2day.

The day before the Forum, Mr Christopher Forbes, Chairman of Forbes, hosted a breakfast in honor of the Minister of National Economy & Finance Mr Alogoskoufis. Four executive members of the international organization were also present at the breakfast, Mr Paul Maidment, Editor, Bob Lenzner, Editor, Ms. Kasia Moreno, Editor, and Mr. Jack Gage, Editor. During the breakfast there was discussion and exchange of views on the progress and the prospects of the Greek Economy and Southeastern Europe.


LUNCH WITH MERRILL LYNCH

The day before the Forum, senior executives of Merrill Lynch hosted a working lunch for the Minister Mr. George Alogoskoufis, his team and the members of the Greek delegation. The lunch was hosted by Mr. Brian Henderson, Chairman, Global Public Sector , Client Group, Merrill Lynch & Co., Inc., Mr. Gregg Seibert, Vice Chairman, Merrill Lynch & Co., Inc., Mr. Michael Ricciardi, Head of Private Equity Fundraising & Alternative Investment Sales, Merrill Lynch & Co., Inc. and Pantelis (Linos) Lekkas, Head of Greek & Cypriot Investment Banking, Merrill Lynch International also attended the lunch.

During the lunch Merrill Lynch presented their view on the progress of the Eurozone and Southeastern Europe economies as well as on the evolution of exchange rates in the region.


MEETING WITH CREDIT SUISSE FIRST BOSTON

Within the Forum's framework, Credit Suisse First Boston represented by Mr Chris Megalou, Managing Director Investment Banking and Mr Tassos Stasinopoulos, Equity Research Analyst, organized a meeting at the Metropolitan Club with major institutional investors on the topic of Privatization.


DINNER AT THE NEW YORK STOCK EXCHANGE

The day before the Forum, the New York Stock Exchange hosted a dinner in honor of Mr Alogoskoufis, Mr Kapralos and the other delegates. The dinner took place at the Historical Board Room of the NY Stock Exchange. Ms Noreen M. Culhane, Executive Vice President and Mr. Gregg Krowitz, Managing Director, International, welcomed Mr. Alogoskoufis and Mr Kapralos, as well as the other guests.

In her address, Ms Culhane stated that in this era of globalization the portion of American funds invested in international companies is steadily increasing. She also cited the necessity and importance of keeping in touch with the investment community, highlighting the Forum's contribution towards that end. Finally, Ms Culhane referred to the close relations between NYSE and the Athens Stock Exchange.



GREEK DAY AND CLOSING BELL AT THE NEW YORK STOCK EXCHANGE

The day of the Forum the NY Stock Exchange organized in honor of the Minister and the other participants a "Greek Day" and granted the Closing Bell to Mr Alogoskoufis, Mr Kapralos and the Minister's team.

The Opening and the Closing Bell of NYSE have great visibility internationally given that all major American and international TV channels (such as Bloomberg, CNBC, Fox News, BBC, CBS) provide live broadcasts. On average, it is estimated that these two events are viewed by 130 million viewers internationally.

The 7th Capital Link Forum on Investing in Greece ended with a live broadcast of the Closing Bell in the Forum room, creating sensation and national exaltation emotions.





QUOTES FROM THE PRESENTATIONS

MINISTER OF ECONOMY AND FINANCE
Mr. George Alogoskoufis, Minister of Economy and Finance, noted that "...For Greece, this is the beginning of a new era. An era of macroeconomic stability, a competitive tax regime, more flexibility in labour, capital and product markets, more investment in education and training, more balanced growth. An era of confidence and optimism. The prospects of the Greek economy are, in my view, solid and promising. Investors can profit from doing business in Greece. We have to offer a stable environment, but yet, an environment plenty of business opportunities. Opportunities in the energy sector, in real estate, in tourism and in the service industry in general. I once again wish to stress the fact that our government is determined to encourage investment, remove disincentives to business activity and enforce fair rules of the game. We are fully aware of the opportunities ahead and we are steering the Greek economy into a new course..."

MINISTER OF EMPLOYMENT & SOCIAL PROTECTION
Mr. Panos Panagiotopoulos, noted that, noted that "As official Minister I place special emphasis on the issue regarding the upgrading of Human Resources, confident that this sector constitutes an important factor for the efficient support of the competitiveness of the Greek economy. We are determined to move vigorously to that end in the near future.

Thanks to the efforts of the Greek people Greece is today a safe country, with highly educated civilians, with modern institutions and inexhaustible opportunitiess for any kind of investment which the Government is determined to assist and promote the soonest possible."

MINISTRY OF TOURISM
Minister of Tourism, Mr. Dimitris Avramopoulos, in his speech stressed that the Forum takes place in a particularly interesting timing, when the first positive results of the new tourism policy in Greece come forth.

Mr. Avramopoulos noted that this extremely positive outcome of the current year is mainly attributed to the hard and systematic effort in the area of tourism. The goal of the tourist policu, he said "is to further upgrade the quality of services and infrastructure".

Greece, says Mr. Avramopoulos, has dynamically entered the global tourism market, with a new, contemporary image and this is fully recognized.

SECRETARY GENERAL OF INFORMATION
Mr. Panos Leivadas, Secretary General of Information, emphasized that "Greece's recent achievements of international caliber in sectors like energy-where the recent developments render us an international energy hub-, the maritime industry, the financial services industry of the region, infrastructure, and exports are the culmination of 30 years of political stability and economic growth... Clearly, the extremely successful Olympic Games, one of the greatest of those achievements, were not an isolated moment of glory but a turning point that Greece was preparing to live for decades."

In her path of progress and prosperity, Greece now engages the whole world by penetrating markets and attracting investment. Her new orientation of extroversion, in combination with the recent economic reforms, have rendered her a strategic economic and political center, in a region stretching from the Balkans to the Caucasus to the Black Sea. These developments are great news for all of Greece's partners, including the United States."

HELLENIC EXCHANGES HOLDINGS
Mr. Spiros Capralos, President of the Hellenic Exchanges Group, emphasized that the Hellenic Exchanges Group's goal is to become more attractive to international investors by offering investment opportunities in a new, modern, transparent and accessible environment. New and exciting opportunities are lying ahead now that Greece is becoming the Gateway to an emerging SE European Market. The geographic region presents a new territory with promising and untapped potential in store. Yet, the envisioned cooperation among SE European markets also means that a number of challenges have to be met. Foreign investor interest in the Greek stock market will continue as long as an increasing number of Greek companies demonstrate a growth in earnings and development opportunities and as long as they become more open to the global markets.

SEV- FEDERATION OF GREEK INDUSTRIES
Mr. Dimitris Daskalopoulos, Vice-Chairman of SEV- Federation of Greek Industries, emphasized that Greece's strategic position is a gate to the east and combined with its European identity provides real stimulus for international investors when they consider Greek enterprises as prominent partners. On behalf of the Greek business circles, SEV suggests to the American and international investors to take advantage of Greece's stable and business friendly environment, forming joint ventures with Greek companies that have the experience of doing business in the region.

GREEK POSTAL SAVINGS BANK
Mr. Panos Tsoupidis, President of the Greek Postal Savings Bank S.A., emphasized that "The Greek Postal Savings Bank S.A. in its way to a new era, faces the greatest challenge of its existence; outshining the competition "on all fronts" towards modernization. GPSB's general restructuring program is involving improving changes in human resources and technical infrastructure, in operation level and in products and services offered, to succeed its transformation into a modern banking institution targeting primarily to low-medium income clients. The Company is about to proceed with the Athens Stock Exchange Market listing, during the first half of 2006. Greek Postal Savings Bank aims to remain consistently a profitable company for its shareholders, its employees and its clients".

GLOBAL FINANCE
Mr. Mihalis Madianos, President of Global Finance, emphasized that his company is the leading private equity firm in Greece and Southeastern Europe, is setting up the South-Eastern Europe Fund, its 7th fund for the region. The region provides emerging market growth at developed market risk.

OPAP
Mr. Basile Neiadas, CEO of OPAP, referred to the company's activities, strategy and future prospects. Specifically he made reference to the latest business developments regarding: measures taken for the revival of the game "PAME STIHIMA", preparations for the introduction of the new game "BINGO-LOTTO", completion of the tender regarding the upgrading of the company's technological platform as well as the recent first half financial results."

HELLENIC PETROLEUM
Dr. Panos Cavoulacos, CEO of Hellenic Petroleum S.A., pointed out that Hellenic Petroleum operates in a positive global business environment for refining, has significant restructuring and efficiency improvement potential while expanding in new activities - power generation and oil & gas production. "Supported by its strong financial position and its stable shareholders structure, Hellenic Petroleum is transforming itself from a Greek refiner to a leading energy company in Southeastern Europe", he said.

TEXAS PACIFIC GROUP
Mr. Phillipos Kosteletos of TEXAS PACIFIC GROUP, emphasized that "Having completed the largest buyout in the country's history, we recognise the potential of some of the country's industries and the quality of its management teams. We hope our commitment to TIM Hellas, and our recent investment in Q Telecom, the fourth largest Greek wireless operator, demonstrate the potential for future investments in Greece. Our recent investments confirm TEXAS PACIFIC Group's continued interest and commitment to investing in Greece, highlights our confidence in the Greek economy and the significant potential for investment in the Greek market and we look forward to partnering with other leading Greek executives to grow their businesses."

HELLENIC AEROSPACE INDUSTRY
Mr. Tasos Philippakos, Managing Director of Hellenic Aerospace Industry S.A. (HAI), emphasized that Hellenic Aerospace Industry S.A. (HAI), the largest aerospace/defense company of Greece, has become a global participant of this industry and within a year and a half the present administration has signed agreements with the world leaders amounting to over 850 million Euros.

HAI is operating in a market where a trend of the globalization has changed the environment in the aerospace and defense industry sector and the need to redefine their business strategies has become an urgent action.

The Defense Industry of Greece has no other alternative but to strengthen its position through mergers, if we want to position ourselves among the American and European giants, and since HAI is the largest defense industry in Greece it can play a leading role towards this process.

NEOCHIMIKI L.V. LAVRENTIADIS S.A.
Mr. Lavrentis Lavrentiadis, President and Managing Director of Neochimiki, emphasized that "NEOCHIMIKI΄S strategic goal is the expansion in the countries of Southeastern Europe. Greece can be the hub for distribution of chemical raw materials, due to its advantageous geographical position in that area. Specifically, Thessalonica, is the first port for the distribution of chemicals in Balkans and Southeastern Europe after the Suez canal".

HELLENIC TELECOM - OTE
The Investment Director of OTE, Mr. Dimitrios Tzelepis stated that "OTE is a perfectly fitting example of a Greek company that is successfully entering the new era, grasping investment opportunities in South-eastern Europe".

S&B Industrial Minerals
Mr. Sotiris Hatzikos, Group CFO of S&B Industrial Minerals, noted that "this year our results prove our commitment on long term growth through targeted acquisitions that add value, capitalizing at maximum our leading position, international presence and knowledge of our customer needs".

CAPITAL LINK PROFILE
Capital Link is an Investor Relations & Financial Communications firm, having established one of the most effective channels to update US investors on Greece and Greek listed companies. Capital Link handled the Cooperation Agreement between the New York and Athens Stock Exchanges and also the events related to OTE's listing on NYSE in November 1998. It maintains close cooperation with the 3 American stock exchanges (New York Stock Exchange, American Stock Exchange, Nasdaq) as well as with the Athens Exchange and with numerous companies in Greece, Europe and even Chile. Capital Link is also active in the international shipping sector maritime sector, representing most of the Greek based international shipping companies listed on American stock exchanges. Finally, another area of major strategic focus for Capital Link is US Closed-End Funds and Global-ETFs.