INFORMER Α.Ε.

INFORMER SA, one of the most significant and most vibrant companies of IT in Greece and listed on the parallel market of the Athens Stock Exchange is

implementing, as is widely known, a programme of acquisitions and holdings which will eventually exceed 4 billion Drs.

As is widely known the company has already gone ahead with acquisitions of a percentage of 74% of the company of MEGABIT SA (which is forecast gradually to come to 90% by the end of the year), 45% of the company of DATACRETA SA, and 80% of the company of SYSCO LTD (which is already being converted to a public limited company). The profitability of these companies is expected to place at least 300 million Drs onto pre tax profits of the company’s consolidated balance sheet (following the subtraction of the minority rights).

As is widely known a large part of the activity of INFORMER is connected with the GLOBUS international Banking software package, for which INFORMER retains the exclusive distribution rights in Greece and Cyprus as well as and for branches and subsidiary Banks of the Greek and Cypriot Banks all over the world.

Around the GLOBUS package, INFORMER has developed great expertise and already has a very large team of experts which are involved with the supply of services for implementation of GLOBUS. In parallel the company has developed a range of its own applications which work with the package in question (i.e. Internet Banking, Credit Card management etc).

The Banking Package software of GLOBUS belongs to the company of TEMENOS HOLDINGS BV. TEMENOS HOLDINGS has formed the company of TEMENOS EASTERN EUROPE LTD which has responsibility for the wider area. TEMENOS EASTERN EUROPE LTD in particular covers Poland, The Czech Republic, Hungary, Slovakia, Croatia, Slovenia, Serbia, Montenegro, Bosnia Herzegovina, FYROM, Bulgaria, Romania, Moldova, Turkey and Egypt.

It has already been agreed for Informer to acquire 49% of the company in question, and the post of the Company’s Managing Director has been assumed by Mr Simos Simoudis, managing director of Informer.

This agreement is of particularly great significance for Informer for a number of reasons:

1. It enhances the joint venture of Informer and the TEMENOS GROUP that concerns the software banking package of GLOBUS.
2. It adds volume to the consolidated balance sheet of Informer. It should be noted that the projects to date of TEMENOS EASTERN EUROPE LTD for the current financial year include banks such as NOVA LIUBLIANA BANKA, which is the largest bank of Slovenia, BRE BANK, one of the largest and most profitable Banks in Poland, the Reiffeisen Zentralen Bank (RZB) in Poland, Slovakia, Croatia and other countries and finally MOLDOVA AGROIND BANK which is the best and perhaps largest Bank in Moldova. The value of these projects exceeds 15 million US dollars. This participation is expected to contribute to a consolidated balance sheet for Informer, for the financial year 31/12/2000, of a turnover of over 5 billion and pre tax profits of over 1 billion.
3. It opens up vast international prospects for Informer, which thereby acquires a “vehicle” of entry into international Banks where it can offer its own software products such as b-direct, for internet banking, the systems management for credit cards etc which are supplementary to GLOBUS, as well as providing services for implementation bolstering the staff of TEMENOS EASTERN EUROPE LTD, wherever required

This participation is the first of a range of holdings in companies abroad that Informer has scheduled, and naturally is to date the most significant holding out of all those that it has implemented to date.

The positive effect of this holding is expected to already become clear in the balance sheet for the 1^st three quarters of 2000.