· Alexakis Panyiotis/ Chairman

· Lazaridis Socrates/ A’ Vice – President

· Ioannidou Leto / B’ Vice – President

· Drakos Panayiotis / Member

· Cambell Vassiliki / Member

· Kourtalis Eleftherios/ Member

· Goussios Ioannis / Member

· Rizos Demetrios / Member

· Pentedekas Konstantinos/ Member

· Karamanof Michael / Member

· Varvaroussi Fotini / Member

On its session on January 10, 2003 the Board of Directors of the Athens Exchange approved the prospectus of the following listed company:

· ‘AGRICULTURAL INSURANCE S.A.’ regarding a company’s share capital increase due to a merger by acquisition of the company ‘AGRICULTURAL LIFE AND HEALTH INSURANCE COMPANY.

In accordance with the approved prospectus:

· The company AGRICULTURAL INSURANCE S.A. proceeds to a company’s share capital increase by issuing 12,379,733 new common registered shares of a par value of Euro 2.38, which will be distributed to the shareholders of the acquired company (except the shareholder AGRICULTURAL INSURANCE S.A.) AGRICULTURAL LIFE AND HEALTH INSURANCE COMPANY in terms of 0.45549762 of a share for each share held.

The shareholders of the acquiring company AGRICULTURAL INSURANCE S.A. will retain the number of shares they hold, i.e. 15,189,600 common registered shares of a new par value of Euro 2.38.

On its session on January 10, 2003 the Board of Directors of the Athens Exchange also approved:

· The listing of 6,962,000 common registered shares of the company NEWSPHONE HELLAS S.A. on the Parallel Market of the Athens Exchange.