The first step for the development of the market of corporate bonds is a fact. As of October 17, 2001, the convertible corporate bond of Attica Enterprises Holdings S.A., the first convertible corporate bond in dematerialized form, which will be cleared through the Central Securities Depository, is trading on the Market of Fixed Income Securities through the OASIS system.

The objective of the Athens Stock Exchange is the development and efficient operation of the market of corporate bonds, which will include all types of bonds, i.e. common, convertible, mortgaged etc and/or a combination of the said bonds.

The Athens Stock Exchange intends to make the corporate bonds an alternative source of financing of the investment plans of the companies, as well as an alternative product attractive to the investors with anticipated return, which is higher than the return of the Government bonds and presents lower risk than that of the shares.

A special presentation to the Members of the Athens Stock Exchange and the institutional investors of the new infrastructure that the Athens Stock Exchange developed in co-operation with the Central Securities Depository took place at the Athens Stock Exchange, relevant to the trading and clearing of the corporate bonds, as well as to the prospects of this market.

On behalf of the Athens Stock Exchange, the presentation was made by Mr. P. Alexakis, President, Mrs L. Ioannidou, Executive Vice President, Mr. S. Lazaridis, Executive Vice President, of the issuing company, by Mr. P. Panagopoulos, President and Managing Director of Attica Enterprises Holdings S.A., of the ASE Members Association by Mr. P. Voilis, of the Central Securities Depository, by Mr. L. Zaggas, Managing Director, and on the behalf of the Managing Company by Mr. G.Georgiou, Director of Capital Reserves of Alpha Bank S.A.

In the immediate future, the Sales Directorate of the Department of Business Development, will organize several informative presentations to all the agencies of the market, which, among others, will cover the legal frame of corporate bonds, the types of bonds, the procedure of issuance, the listing requirements and the obligations of companies that have listed the bonds.