INTRAKAT to be listed on the Athens Stock Exchange

The listing of INTRAKAT on the main market of the Athens Stock Exchange has reached the final phase. The Initial Public Offering will take place between Tuesday, November 13th and Friday, November 16th, 2001. The main underwriters will be Alpha Finance and the National Bank of Greece while the issuer consultant will be Telesis Securities.

The capital inflow from the IPO will be used to obtain equipment and other fixed assets, as well as to finance acquisitions and buy-operate-transfer projects.

The company’s main business activities involve complex telecommunication projects, IT systems and networks, industrial and energy projects, natural gas projects and civil works. The company implements large-scale projects for telecoms and major telecommunication companies, including OTE, COSMOTE, PANAFON, TELESTET, INTRACOM, MOLDTELECOM and COSMOROM, as well as other public-sector organizations and institutions, including DEPA, the University of Athens and the Ministry of Merchant Marine.

Moreover, INTRAKAT is active in Eastern Europe, implementing infrastructure projects through its INTRACOM CONSTRUCT and INTRALBAN subsidiaries in Romania and Albania respectively. INTRACOM CONSTRUCT’s 2000 turnover was 4,803 million GRD and is projected to reach 15,572 million in 2001, posting a 224% increase. Profit before tax was 1,694 million GRD and is projected to rise by 187% to 4,863 million in 2001.

The company’s consolidated turnover for the year 2000 was 20,733 million GRD, and is expected to reach 31,957 million in 2001. Likewise, consolidated profit before tax is projected to rise by 61% to 7,454 million in 2001 compared to 4,621 million GRD in 2000.

The company intends to broaden its involvement with telecommunication projects, secure a Class F certificate in order to undertake major infrastructure projects, and strengthen its presence in Eastern Europe.

The company’s future prospects appear to be remarkably positive, since INTRAKAT is strategically positioned to take full advantage of significant opportunities arising from the industry’s rapid evolution and accelerated growth (liberalization of the telecommunications and energy sectors, introduction of new technologies and energy sources, Olympic Games, 3rd EU CSF, buy-operate-transfer construction projects), and undertake projects that demand long experience and extensive know how in implementing and managing complex turn-key projects.