Thurrsday, 10 Decemberr 2009
BETA SECURITIES SA
Member of the Athens Stock Exchange

Market Comment
The market’s hammering continued yesterday with the General Index ending
down 3.4%. The bank index lost 5.75%. Yield spreads between Greek and
German 10-year government bonds widened to as much as 255 basis points, the
widest since March.
In FTSE20, Intralot (+2.29%), HTO (+1.30%), Bank of Cyprus (1.16%) and
ELPE (+1.16%) gained.
MIG and MOH remained unchanged at 2.05 and 10.30 euro, while Piraeus Bank
(-8.44%), Eurobank (-7.65%), Alpha Bank (-7.48%), NBG (-6.59% at 17.00
euro), Ellaktor (-5.47%), ATEBank (-4.55%) and Hellenic Postbank (-2.91%) all
posted hefty losses.
Traded volume stood at the high levels of €487.6m.
A strong catalyst is needed to return back to positive trend.

Greek Macro
• There is no need for the International Monetary Fund to help Greece
out of its fiscal difficulties, European Central Bank Governing Council
member Axel Weber said late on Tuesday. Europe had its own set of
rules - the stability and growth pact -- which do not involve the IMF.

• The European Commission stands ready to assist the Greek
government in setting out the comprehensive consolidation and reform
program, in the framework of the treaty provisions for euro-area
member states, said Joaquin Almunia.

• ECB’s Trichet confident Greek government will take necessary,
courageous steps.

• Greek Finance Minister George Papaconstantinou said today that the
country will not seek an EU aid package and there is “absolutely” no
risk it will default on its debt.

Corporate News
BELA / AGM decided the dividend distribution of €0.23 (gross) per share. Mr.
Vakakis also said he expects also present positive growth rates for the full year
period July 2009 – June 2010.