When bids are submitted, the government will begin talks with the interim winner of the tender, Credit Suisse First Boston said.

[02] Greece - Turkey - Survey ship report

Athens emphasised on Wednesday that there was no confirmation of local press reports claiming that a Turkish survey vessel, formerly used for maritime oil exploration, would be carrying out spot research in the southeastern Aegean.

The press report appeared in the Athens daily "Kathimerini" on Wednesday. According to the newspaper, a crisis was developing in Greek-Turkish relations after Ankara informed Athens that the Turkish oceanographic vessel "Piri Reis" would carry out research in the SE Aegean on June 4. The article also claimed that the vessel's exploration would coincide with a Turkish air and sea manoeuvre in the Aegean's international waters.

However, Greek government spokesman Dimitris Reppas said the Turkish side had clarified that the ship, which belongs to Izmir University's Oceanographic Institute, would be carrying out research on the surface of the sea only and not the sea bed - in accordance with international maritime law, which allows research on the sea bed in a country's territorial waters but not in international waters.

According to Reppas, the issue offered an opportunity for talks with Ankara, with the latter emphasising that the "Piri Reis" research programme in no way compromised Greek territorial rights in the Aegean, nor did it affect the way that the continental shelf between Greece and Turkey might be delineated.

[03] Foreign Exchange Rates - Thursday

Buying rates for Thursday

U.S. dollar 394.980

German mark 172.829

French franc 051.531

Pound sterling 561.127

Irish punt 429.202

Belgian franc 008.379

Luxembourg franc 008.379

Dutch guilder 153.389

Italian lira (100) 017.457

Austrian schilling 024.565

Danish kroner 45.331

Swedish kroner 37.227

Finnish mark 056.852

Spanish peseta 002.032

Portuguese escudo 001.686

Japanese yen (100) 328.909

Swiss franc 221.626

Norwegian kroner 42.744

Cyprus pound 586.236

Canadian dollar 256.203

Australian dollar 202.742

[04] Hellenic Stock Markets-Results-First Quarter

Hellenic Stock Markets SA, an Athens-quoted bourse holding company, on Wednesday reported consolidated net pre-tax earnings after minorities of 2.4 billion drachmas in the first quarter of the year.

Consolidated turnover in the first quarter was 6.5 billion drachmas. Pre-tax profit including minorities totalled 2.8 billion drachmas, and gross earnings 4.1 billion drachmas, Hellenic Stock Exchanges said in a statement.

Liquidity in the group was high at 104 billion drachmas, representing 55 percent of current capitalisation and 79 percent of consolidated assets, the statement said.

[05] Hellenic Petroleum-Results-First Quarter

Hellenic Petroleum, an Athens-quoted energy company, on Wednesday reported pre-tax profits of 4.8 billion drachmas in the first quarter of the year from 16.2 billion drachmas in the same period of 2000, down by 70 percent.

The drop was due to decline in world refinery margins and lower sales, especially heating oil, in the domestic market. The same factors also had a negative impact on the group's commercial subsidiaries, Hellenic Petroleum said in a statement.

"An improvement from April in the above factors is expected to keep the company's profitability, and that of the group, at satisfactory levels in 2001 also. The objective is to achieve returns in line with those of 2000," the statement said.

The Hellenic Petroleum Group's consolidated pre-tax profits fell to 5.0 billion drachmas from 17.0 billion drachmas in the first quarter of 2000, marking a 70.5 percent decline, it added.

State-owned Hellenic Petroleum is a heavily traded stock quoted on the Athens Stock Exchange.

[06] Weather Forecast-Thursday

Sunshine is forecast throughout the country on Thursday, possibly turning to storms from evening on high ground in Macedonia and Thrace. Winds northerly, light to moderate, changing to westerlies later in the day. In the north, temperatures will range from 15C to 34C; on the rest of the mainland from 17C to 36C; and in the islands from 19C to 31C. Sunny in Athens, with temperatures between 19C and 36C. Same in Thessaloniki, with temperatures from 17C to 33C.

[07] Turkish trawler - Migrants - Detected

Greek coast guard vessels steered a Turkish trawler suspected of carrying more than 200 would-be migrants towards a port on Crete Wednesday afternoon, after the vessel was first spotted at dawn trying to approach Greek territory.

The 30-metre trawler, identified as the ?Nuri Reis?, was detected off the island of Kythira in the southwest Aegean before the coast guard radioed its skipper to head for the port of Hania.

A call from a mobile phone by an unknown woman pleading for help alerted authorities to the vessels location, reports state.

[08]

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