Athens News Agency: News in English, 00-08-01

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Foreign Exchange Rates-Wednesday

[02] Weather Forecast-Wednesday

[03] Traffic deaths - Greece - Statistics

[04] Vrionis-Gener-acquisition

[05] K.I.Sarandopoulos-multiplex-Thessaloniki

[06] Greece-euro conversion

[07] Grigoris Foods-Athens Spata Airport

[08] ASE-close

[09] Greece-privatisation-shipyards

[10] Greece-privatisation-shipyards

[11] Bond auction-results

[01] Foreign Exchange Rates-Wednesday

Following are indicative rates released by the central bank for the next working day.

Wednesdays rates (buying)

Euro 334.522

U.S. dollar 361.128

German mark 171.039

[02] Weather Forecast-Wednesday

Sunny weather is expected throughout Greece on Wednesday. Winds will be northerly, light to very strong, turning gale force in the Aegean.

[03] Traffic deaths - Greece - Statistics

More than 2,300 people died on Greek roadways over the past three years during the January-May periods, with the five-month tally for this year only slightly down from the corresponding figure of 1999.

The disappointing figures were released by Greeces national statistical service (ESYE) on Tuesday.

Specifically, traffic fatalities reached the 761-mark in the first five months of 2000, down from 790 in 1999 and 797 in 1998 a total of 2,348 deaths in a country of around 11 million.

[04] Vrionis-Gener-acquisition

Vrionis Group and Gener SA constructions on Tuesday announced the purchase of a 95 percent stake in Silk Oil SA's equity capital for 8.6 billion drachmas.

The remaining 5.0 percent stake was purchased by Manolis Daskalakis, former chairman of Hellenic Refineries (ELDA) and ex-chief executive of Public Petroleum Enterprise. Daskalakis will take over as Silk Oil's chairman with the aim to expand its activities.

The acquisition deal envisages a share capital increase plan, worth 3.0 billion drachmas, and initiating merger procedures between Silk Oil and a company listed on the Athens Stock Exchange, in a move designed to boost the company's presence in the domestic and the Balkans markets.

Silk Oil's facilities are located in Crete and Samos. The company has a market share of 2.8 percent and a network of 280 petrol stations. Its turnover totalled 24 billion drachmas in the first six months of the year. The company expects its turnover to be around 50 billion drachmas by the end of 2000.

[05] K.I.Sarandopoulos-multiplex-Thessaloniki

A consortium by K.I.Sarandopoulos SA and Architech ATE has won a contract to build and manage a multiplex center in Thessaloniki, including an underground garage station, an indoor athletic centre and an education and cultural events centre, a statement said on Tuesday.

The multiple centre, of an estimated investment value of 6.5 billion drachmas, will be built on a area owned by the Thessaloniki YMCA. It is expected to be completed in the next two years.

The consortium will have managing rights of the underground garage station, with a capacity of 1,000 cars, for 20 years with expected revenues around 20 billion drachmas.

[06] Greece-euro conversion

All public organisations, financial institutions and state enterprises, along with private sector's businesses employing more than 10 workers, are obliged to a double pricing of their products and services, in drachmas and in euros, from January 1, 2001 until December 31, 2001, according to a draft bill unveiled by the Greek government on Tuesdsay.

The draft legislation on double pricing excluded private sector's businesses with less than 10 employees, which were given a extension until March 1, 2001.

The obligation for double pricing includes the product's final price, the bill said.

The draft bill also referred to the introduction of the euro currency in tax cases and issues regarding the conversion of public companies' and limited companies' equity capitals from drachmas to euros.

[07] Grigoris Foods-Athens Spata Airport

Grigoris Foods ABEE, a listed fast food chain company, on Tuesday signed a five-year contract with the Athens International Airport for the operation of restaurant halls at Spata airport.

The company has won an international tender with more than 50 Greek and foreign companies bidding.

Grigoris Foods will open two restaurant shops at the Spata departure hall in 2001.

The company expects its turnover to exceed one billion drachmas next year.

[08] ASE-close

Equity prices remained locked in tight range movements for one more session on Tuesday on the Athens Stock Exchange with the general index moving around the 4,000.

Dealers said the market had completely ignored news that Morgan Stanley, the US investment bank, on Monday would place the Greek bourse in its list of developed markets from May 31, 2001.

The general index ended at 3,998.57 points, up 0.26 percent, with turnover a low 63 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 2,231.58 points, up 0.29 percent and the FTSE/ASE 40 index fell 0.23 percent to 558.15 points.

The parallel market index for smaller capitalisation stocks ended 2.30 percent higher at 763.36 points.

[09] Greece-privatisation-shipyards

The sale of Skaramanga Shipyards is expected to be completed in the first quarter of 2001, national economy ministry sources said on Tuesday.

The privatisation of the state-owned shipyard was discussed in a meeting between National Economy and Finance Minister Yiannos Papantoniou, Development Minister Nikos Christodoulakis and Labour Undersecretary Christos Protopapas.

Papantoniou will meet Prime Minister Costas Simitis on Wednesday to prepare the premier's key note speech at the Thessaloniki International Fair in September.

The two men will also discuss with Culture Minister Theodore Pangalos plans for the flotation of OPAP, the state football pools organisation.

[10] Greece-privatisation-shipyards

The sale of Skaramanga Shipyards is expected to be completed in the first quarter of 2001, national economy ministry sources said on Tuesday.

The privatisation of the state-owned shipyard was discussed in a meeting between National Economy and Finance Minister Yiannos Papantoniou, Development Minister Nikos Christodoulakis and Labour Undersecretary Christos Protopapas.

Papantoniou will meet Prime Minister Costas Simitis on Wednesday to prepare the premier's key note speech at the Thessaloniki International Fair in September.

The two men will also discuss with Culture Minister Theodore Pangalos plans for the flotation of OPAP, the state football pools organisation.

[11] Bond auction-results

Long-term yields remained stable during Tuesday's regular state securities auction by Greece's Public Debt Management Organisation.

The average weighed yield of a 10-year bond, paying an annual coupon of 6.0 percent, was stable at 6.01 percent.

Bids submitted totalled 680 billion drachmas, more than three times more the asked sum (220 billion drachmas). The organisation finally accepted bids totalling 264 billion drachmas.

The average weighed prices of the bond was set at 99.882 units with a minimum accepted price of 99.850.

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