INFORMER Α.Ε.

INFORMER A.E. - AR.M.A.E. 7662/06/B/86/51- ANNOUNCEMENT.  According to the article 16 of the law 2190/1920, as it is valid, the Extraordinary General Assembly

of share holders of the company , held on 15/11/2002 , decided the buy back of up to 2 millions of its existing shares, in a total period of 12 months, i.e. up to 14/11/2003, at purchase prices of 2€ at the minimum and 12€ at the maximum.

After the above decision and the relevant authorization given to the board of directors of the company, the board of directors with his relevant decision of 7/1/2003 announces that it is entitled to accomplish, in the period from 22/1/2003 to 18/4/2003, the buy back up of up to 1 million of its existing shares, at a minimum purchase price of 2€ and a maximum price of 12€ per share.

                                         Athens, 7^th of January 2003

                                      THE BOARD OF DIRECTORS