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Wednesday, 11 June 2003
+++ Announcement to the Athens Stock Exchange +++
With regard to recent developments concerning the Greek
Supreme Court's Prosecutor's request for the convening of the Court of
Appeals Plenary Session in order to examine the pending charges against
INTRACOM's Chairman Mr. Socrates Kokkalis, the Company wishes to notify
the following to the investing public:
INTRACOM's financial strength and continuous expansion
in the international market highlights the INTRACOM Group's positive outlook
which cannot be tainted by inopportune actions on the borders of legality
and questionable motives. These can only provoke momentarily misleading
impressions. Our company cannot be impoverished by actions that hardly
veil the nature of these charges. In addition, the recent suit by a defunct
Russian Organization - with Greek representatives - has already been judged
through arbitration procedures in Switzerland.
In any case, the Athens' Court of Appeals Council has
the sole responsibility for passing judgment on requests made by the Prosecutor
of the Supreme Court. INTRACOM maintains a strong conviction that the
Greek justice system will impartially judge the case in accordance with
its mandate and prior record.
In the meantime, the INTRACOM Group will continue its
successful course. Investors should be aware that, despite our business
opponents' ardent desire for the opposite, INTRACOM Group's foundations
are much too strong to subside under the weight of contested and dubious
allegations.
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