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The accruing interest (net of tax, where applicable) will be credited at the end of every 6-month period to the investor’s account


The new BoD of the Greek Progress Fund which was elected by the Annual General Assembly of Shareholders (AGA) held on 22/4/2002, comprises of:
1. Mr. Antonios Bibas, Chairman 2. Mr. Aggelos Tsichritzis, Vice Chairman3. Mr. Ioannis Sakellariadis, Vice Chairman 4. Mr. Miltiadis Siniosoglou-Tositsas, Member5. Mr. Alexander Zagoreos, Member6. Mr. Alexandros Antonopoulos, Member7. Mr. Dimitrios Georgoutsos, MemberFrom 02.10.2001 Mr. Alexandros Antonopoulos has been appointed General Manager of the Fund. In the first four months of 2002, the NAV -adjusted for dividend - of the Fund dropped by 10.63% which compares favourably to the 14.40% drop of the ASE General Price Index during the same period. On 31.04.2002 the share of the Fund was traded on the ASE at a discount of 17.48% (NAV per share euro 3.48 vs euro 2.87 market price). The company’s net assets on 30.04.2002 amounted to € 112m approx. and consisted of 80.35% listed shares, 7.70% non listed shares, 3.68% fixed income securities, and the rest short-term deposits. The five largest equity investments of the company, as a percentage of NAV, were: Chipita 9.0%, Τitan (cr) 8.7%, OTE 6.7%, Coca Cola – 3E 6.3% and Germanos 5.0%.
The company would like to remind to its shareholders that the payment of the dividend (euro 0.12 per share), starts on May 27. Eligible to the dividend are the Shareholders who owned shares of the Fund on the closing of the ASE on Tuesday, 30th of April, 2002.