Capital Link, Inc.

THE 4TH ANNUAL CAPITAL LINK FORUM CONFERENCE
Monday October 30, 2000

"GREECE: YOUR EMU PARTNER IN SOUTHEASTERN EUROPE"

P&K

COMPLETE FINANCIAL SERVICES

The P&K Group

Is one of the leading and fastest growing financial institutions in Greece. Member firms include P&K Securities as the top ranked Greek stockbroker firm. P&K Capital, the investment banking unit and holding company of the group, the ETBA - P&K, Mutual Fund Company, and P&K Online the internet trading unit. The Group also manages P&K Portfolio investments, a closed-end fund. The Group's Equity Capital exceeds GrD 8.7 bn (USD 23 ml), with over GrD 70 bn (USD 184 ml) in funds under management, and more than GrD 300 bn (USD 790 ml) in clients' assets.

The Group has an expanding network of 12 wholly owned P&K branches throughout Greece, and employs 220 high caliber professionals.

Founding partners and Executive Directors of the Group are Mr. Lambros Papakostantinou and Mr. Achilleas Kontogouris. Shareholders include members of senior management

The Strategy

With a mission of "advising investors to realize their objectives" P&K Group provides a comprehensive portfolio of financial services to institutional and private investors, focusing on research fundamentals and market performance criteria and addressing asset allocation and portfolio issues. The Group's approach may be described by the following:

Client oriented business planning
Dependable data and operational platforms.
Emphasis on reliable research focusing on fundamental analysis
Offer a comprehensive portfolio of investment services, including Research and Analysis, Sales and Trading of Greek and International Equities, Bonds, Derivatives, Open and Closed - end Fund, Derivative products
Development, Investment Banking Asset Management, Internet Brokerage and custody.
Close cooperation with top international investment houses
Continuous upgrading of our compliance and internal control procedures.

Member firms

P&K Securities AEPEY

Is the leading and fastest growing securities firm in Greece. (ranked 1st in August / September 2000, and 2nd year to date in terms of market share). It was founded in 1996 and is a member of the Athens Stock Exchange, a founding member and market maker of the Athens Derivatives Exchange, and recently, was admitted as a member of Deutsche Borse, which is a first for a Greece securities firm.

The company offers Sales and Trading services in Equities Fixed Income and Derivative products, catering to both institutional and retail customers, placing great emphasis on reliable research and fundamental analysis. Besides offering full advisory brokerage services, the firm has also been at the forefront of offering online-trading through the internet (www.pksec.gr)

P&K Capital AEPEY.

Is the Advisory services unit and holding company of the P&K Group, becoming operational in early 1999 absorbing the Investment Banking and Asset Management activities then part of P&K Securities. The firm provides a broad range of Investment Banking and Corporate Finance services to large and medium sized enterprises either privately held or State owned. It participated in all International Offerings (Hellenic Petroleum, OTE, Panafon) Secondary Offerings (ETBA Bank. Athens Water, National Bank) and all private placements. In 1999, it ranked first in terms of number of underwritings and fourth in underwritten volume, whereas in 2000, it has already participated in 30 out of a total 45 IPOs. In July 2000 it completed the merger of DIS - Computer Logic, the largest merger in the sector.

The firm also offers full Management services, discretionary or not, manages the ETBA P&K Mutual Fund Company, and acts as an advisor to the P&K Portfolio Investment company, a closed and fund.

ETBA-P&K Mutual fund Management Company

The company is jointly owned by ETBA Bank (the Hellenic Bank for Industrial Development) and P&K Capital, manages six mutual funds serves more than 2.300 shareholders and its NAV exceeds GrD 40 bn (USD 103 ml). The company was founded in 1995 as ETBA-NatWest and assumed it's current status in December 1 999, after the acquisition of NatWest Bank's share by P&K Capital.

P&K Portfolio Investment AE.

Is a closed end fund, managed by P&K Capital, founded in early 2000 by 82 institutional and private investors and concentrates on portfolio management of transferrable securities. The firm invests in a diversified portfolio consisting of a range of short-term fixed income instruments and long-term investments. Its objective is to maximize returns and to provide the best possible service and information to its shareholders. P&K Portfolio Investment is expected to be listed on the Athens Stock Exchange in early 2001.

P&K OnLine AE.

In October 1999, P&K Securities launched the first ever Internet online trading service in Greece (www.pksec.gr). Following its successful debut and due to its increased consumer acceptance, it was spun-off from P&K Securities and became a separate company under P&K Capital and in partnership with Rammet Digital AE. & Lambrakis Press company. It is currently offering full on line brokerage services to private investors.

ORGANIZERS