Athens News Agency: Daily News Bulletin in English, 97-11-27

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From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>

ATHENS NEWS AGENCY BULLETIN (No 1351), November 27, 1997

Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca

CONTENTS

[01] Greek Satellite, armaments top Tsohatzopoulos' agenda in China

[02] V. Papandreou talks in China focus on economic co-operation

[03] Laliotis says 4.3 trillion drachmas for projects until the year 2000

[04] G. Papandreou on CNN

[05] Greek role in Balkans on agenda of Simitis-Blair meeting

[06] Athens studying Turkish experts report

[07] Apostolakis cites aggressive Turkish policy against Greece

[08] Simitis backs Damanaki's run for Athens mayor

[09] Eurodeputies meet with Albanian MPs

[10] Greek EuroMP says Tirana should legalize Communist Party

[11] KKE cadres on official visit to Tirana

[12] Laliotis confident Athens Metro will be ready in 1999

[13] Calls for protection of hotel industry from bankrupt tour operators

[14] Onassis' Foundation accuses Roussel of fabricating kidnap plot

[15] Cultural Capital officials want Mount Athos exhibition extended

[16] Director Manoel de Oliveira honored at Thessaloniki Film Festival

[17] Junta torture victim vindicated by EuroCourt decision over pension

[18] Greece to aid in construction of Albanian prison

[19] Fencing tournament in Athens

[20] Study on gold mines' operation in Halkidiki pending

[21] ... Tension continues to mount in Halkidiki

[22] Piraeus hosts 15th international shipping conference

[23] Greece on last lap towards convergence - Papantoniou

[24] New OA president elected

[25] Greek industrialists want tighter economy

[26] Greek firms need to use total quality systems-minister

[27] Greece best placed to exploit Eastern European markets

[28] Stocks resume climb after correction

[29] Merrill Lynch call warrant on Greek state telecom yields 160 pct

[30] Greek utilities finalize three-year plans

[31] Tobacco farmers urge retention of trade group

[32] Intracom distinction at telecom awards

[01] Greek Satellite, armaments top Tsohatzopoulos' agenda in China

Beijing, 27/11/1997 (ANA - S. Trilikis)

Mr. Tsohatzopoulos had a 35-minute discussion with Chinese Prime Minister Li Peng, focusing on possibilities of promoting and strengthening co-operation between the two countries and reviewing the entire spectrum of Sino-Greek relations.

Welcoming Mr. Tsohatzopoulos, the Chinese premier said Greece and China are countries with ancient civilizations and history.

"We have never had feuds between us," he said, adding that "we only have common interests", while he stressed that "the visit is strengthening co-operation between us."

On his part, Mr. Tsohatzopoulos thanked the Chinese premier, saying "we came to China for a briefing on developments in Greece and the wider region and to bring proposals to deepen our relations."

After referring to China's long-time history and civilization, Mr. Tsohatzopoulos said "rapprochement was reached in our bilateral relations in past decades, and with Andreas Papandreou in particular. Andreas Papandreou no longer exists in Greece today. However, with Costas Simitis as prime minister we are continuing the same effort."

During their talks, the men discussed at length possibilities for greater rapprochement at a bilateral level as well as in the framework of international organizations.

Mr. Tsohatzopoulos briefed Mr. Li Peng on the Cyprus issue and Greek-Turkish relations. The Chinese official expressed the view that a solution should be found to the Cyprus issue within the framework of the European Union. He also called on Mr. Tsohatzopoulos to convey his assurances to Mr. Simitis that China will support Greece's candidacy for accession to the UN's non-permanent Security Council members over the 1999-2000 period, while congratulating Athens for undertaking the 2004 Olympiad, saying that China helped in its own way by not submitting its candidacy.

Meanwhile, Mr. Li Peng thanked Mr. Tsohatzopoulos personally for assistance provided by the Greek armed forces in evacuating Chinese citizens from Durres during the Albanian crisis earlier this year.

Apart from this meeting, Mr. Tsohatzopoulos and his aides had a series of contacts with officials of China's defense industries, examining possibilities of co-operation in the sector.

The main issue of direct interest to Greece is co-operation in space research and activities. Greece intends to proceed with launching its own telecommunications satellite, an undertaking expected to take place in co-operation with China.

Talks will be continued in Athens in the future, since Greece intends to take a final decision on the issue in 1998.

On the sidelines of his official meetings, Mr. Tsohatzopoulos visited the "Forbidden City" in Beijing yesterday, a walled, ancient enclosure that housed all the dynasties that ruled China for centuries.

Today is the last day of Mr. Tsohatzopoulos' visit to China, with the Greek defense minister visiting the city of Sen Yian for a round of contacts concerning defense and armaments issues.

[02] V. Papandreou talks in China focus on economic co-operation

Beijing, 27/11/1997 (ANA - D. Tsalapatis)

Ms Papandreou's contacts included meetings with the Chinese Communist Party's international relations minister, Dai Bing guo, as well as with the deputy mayor of Shanghai.

She is being accompanied by the deputies Yiannis Haralambopoulos, the president of the Greece-China parliamentary friendship group, and Nikos Akritidis, the president of the parliamentary production and commerce committee.

The 100 largest companies in the world are already active in Shanghai, and more specifically, in the new industrial zone where the region's new international airport is being built.

The region is developing rapidly, Ms Papandreou said, adding that possibilities are provided for co-operations, initiatives and joint enterprises.

In the framework of Ms Papandreou's meetings with relevant Chinese ministers, the Greek side discussed mediation on China's full accession to the World Trade Organization (WTO).

However, a precondition for all this and for Greek mediation is the further deregulation of trade conditions (imports) and of a smoother market operation.

According to figures for 1996, Chinese exports to Greece increased by 6 per cent, amounting to US$200 million.

Greek exports to China also increased (almost tripling) in 1996, compared to 1995, totaling US$58 million.

[03] Laliotis says 4.3 trillion drachmas for projects until the year 2000

Athens, 27/11/1997 (ANA)

Mr. Laliotis was speaking yesterday at the economic conference organized in Athens by the Hellenic-American Chamber and the Federation of Greek Industries (SEB).

He said the projects and actions to be funded are of vital importance to the country's development, restructuring and economic modernization.

According to the minister, it is of equal importance that private capital be used in the construction of projects, through self-financing and co-funding, while adding that the positive climate which has been brought about by Greece's co-operation with the EU, international credit organizations and private initiatives will be maintained and boosted in the next few years.

Lastly, commenting on the 1998 state budget, the minister said it will be a budget of prudence and perspective, aimed mainly at meeting the required convergence criteria and securing Greece's participation in Economic Monetary Union in 2001.

[04] G. Papandreou on CNN

London, 27/11/1997 (ANA - L. Tsirigotakis)

"I belong to the young generation, and I look forward to the future for a solution of the Cyprus problem with respect for human rights and international law," he said.

[05] Greek role in Balkans on agenda of Simitis-Blair meeting

London, 27/11/1997 (ANA)

Mr. O'Hara said he believed the Greek prime minister would ask for the British government's support for Greece's positive initiatives in the Balkans. Britain assumes the rotating presidency of the European Union Council for the first half of 1998.

He said the British perception of Mr. Simitis' government was a positive one, particularly of the way in which he was dealing with Greece's difficult economic problems "with some success".

[06] Athens studying Turkish experts report

Athens, 27/11/1997 (ANA)

He added, however, that the government would be studying the report and deciding if and how the process would be continued.

Mr. Reppas did confirm that the Turkish experts proposed a meeting with their Greek counterparts on December 10. The Turks also suggested that each side state the issues in which they believed some rapprochement should be achieved.

In addition, they propose that the establishment of confidence building measures begin at once.

With regard to threats made by Turkish Prime Minister Mesut Yilmaz and his Foreign Minister Ismail Cem regarding Cyprus' eventual accession to the European Union, the spokesman advised Turkey to meet the conditions set out by the European Union rather than making such statements which were not in the best interests of the Turkish people.

Mr. Reppas denied that a meeting was scheduled to take place in Paris between Mr. Yilmaz and his Greek counterpart Costas Simitis.

[07] Apostolakis cites aggressive Turkish policy against Greece

Athens, 27/11/1997 (ANA)

In a statement, the under-secretary said "we will not back down on any form of pressure and we will defend our independence and integrity even by an armed confrontation, a fact that Turkey has to realize."

Speaking to officers of the three branches of the armed forces on Limnos, Mr. Apostolakis underlined Greece's standing position for a peaceful settlement of differences with Turkey.

Further, in a clear message to Ankara, he said that as far as Greece was concerned, Turkey's EU prospects were conditional on Ankara's willingness to adopt more flexible positions to facilitate a settlement of the Cyprus problem.

[08] Simitis backs Damanaki's run for Athens mayor

Athens, 27/11/1997 (ANA)

Ms. Damanaki, a member of parliament for the Coalition of the Left and Progress, the party which she once led, announced her candidacy recently at a press conference, pre-empting both her own and the ruling PASOK party which had been jointly discussing supporting her for the post.

Ms. Damanaki said she would make her final decision regarding her candidacy after discussions within PASOK and the Coalition have been completed, as well as her contacts with other party leaders, including main opposition New Democracy party leader Costas Karamanlis.

"We support the broadest possible co-operation among progressive forces, just as we aim at specific programs which will contribute to improving living conditions for citizens of the city," said Mr. Simitis.

Mr. Simitis' preference for the "broadest possible co-operation among progressive forces" is not shared by the Coalition, which prefers co-operation at local level rather than a centrally-based co-operation agreement.

[09] Eurodeputies meet with Albanian MPs

Tirana, 27/11/1997 (ANA - P. Haritos)

Mr. Roubatis noted significant changes within Albania since the elections, above all a greater feeling of security.

Mr. Sarlis stressed that the review of Albania's constitution should be based on a consensus and the participation of all the country's political forces, while Ms. Daskalaki called for a government initiative to bring the opposition back into parliament .

[10] Greek EuroMP says Tirana should legalize Communist Party

A Greek European Parliament MP has called on Albania to formally legalize the Communist Party.

"It is high time that also in Albania the Communist Party be legalized," Greek Eurodeputy Yiannis Theonas said on Tuesday during the fourth meeting between the Albanian Parliament and the European Parliament.

Mr. Theonas is first deputy chairman of the delegation of the European Parliament for Albania and a member of the Confederal Group of the European United Left.

"In Greece, as well as in other countries of Western Europe, there are parties of a broad spectrum, even of extremes: I am socialist, but it is high time for the Albanian Parliament to see the possibility for the legalization of the Communist Party," Mr. Theonas said.

[11] KKE cadres on official visit to Tirana

Tirana, 27/11/1997 (ANA - P. Haritos)

Mr. Theonas was in the Albanian capital since Tuesday for Euro-parliamentary contacts with the nation's leadership.

Both men will meet today with the Albanian parliament's committee of foreign affairs as well as members of the ruling Socialist party's foreign affairs committee.

Mr. Theonas and Mr. Aggourakis will also be received today by Archbishop of Tirana and All Albania Anastasios.

[12] Laliotis confident Athens Metro will be ready in 1999

Athens, 27/11/1997 (ANA)

Speaking at a ceremony welcoming the arrival of "Jason the Metro-mouse" - the giant French-made tunnel boring machine (TBM) - at Syntagma Square, Mr. Laliotis said construction of 18 (of the total 21) stations had been completed, 16 of which were in the final stages of installation of the basic mechanical equipment.

Traffic circulation had also been restored above nine of the stations, Mr. Laliotis said.

The minister said that in the next 10 days the ministry would announce the specifics on the extensions of Line 2 from Sepolia to Peristeri and Line 3 from Kerameikos to Egaleo. It would also announce at that time how the Line 3 section from Syntagma to Kerameikos would be constructed given the problems there due to unsteady soil and antiquities.

The Sepolia-Peristeri extension provided for 2.5 kilometers of tunnel and three stations, while the Kermeikos-Egaleo extension comprised 3.4 kilometers of tunnel, another three stations, and a depot.

He said 66 percent of the tunnel boring had been completed, representing 12 of the total 18 kilometers of the project, with 50 percent of Line 3's tracks and 16 percent of Line 2's tracks already in place.

Mr. Laliotis said Jason had covered the distance from the Athens Academy station to Syntagma square in a record 22 days without running into problems such as the land subsidence on Panepistimou street that had slowed up the project last month.

After a few days rest for maintenance work, Jason would start boring towards the next station, under archaeological remains at the beginning of Syngrou avenue, Mr. Laliotis said.

[13] Calls for protection of hotel industry from bankrupt tour operators

Brussels, 27/11/1997 (ANA - G. Daratos)

Mr. Chrysohoidis, who was taking part at yesterday's meeting here of the EU development ministers council, said that unlike the case of tourists, who are protected by Directive 90/314, the rest of the tourist sector has remained unprotected by relevant EU legislation.

The result of this, said the Greek under-secretary, was that bankrupt tour operators left many hotels with large debts with no hope of any form of compensation.

EU Commissioner for tourism Christos Papoutsis, who also attended the council, said the EU tourism ministers did not eventually adopt the 'Philoxenia' program for 1997-2000, owing to objections by Germany and Britain.

He said just a few days after the EU summit on unemployment, the European tourism ministers failed to approve a program on tourism that had the potential to create many positions to absorb jobless persons.

[14] Onassis' Foundation accuses Roussel of fabricating kidnap plot

Athens, 27/11/1997 (ANA)

Stelios Papadimitriou said Mr. Roussel fabricated and then leaked to the international press the existence of such a plot earlier this month, allegedly to be carried out by former Israeli commandos and intelligence agents.

"I am not accusing the Swiss justice system," Mr. Papadimitriou stressed in a three-hour press conference, saying however, that Mr. Roussel and four others, whom he named, plotted against himself and the three other members of the Onassis Foundation - Apostolos Zambelas, Pavlos Ioannidis and Theodoros Gavriilidis - all assigned by the late Christina Onassis to administer the trust, along with Mr. Roussel, her widower.

He also accused Mr. Roussel and his associates of trying to wrest management of the vast Onassis fortune from the four other trustees, in what he said was a complete contradiction of the last will and testament of Christina Onassis, and of rulings by the Swiss Supreme Court.

Mr. Papadimitriou said a routine check by the security firm - through which Athina has been insured against abduction - of security arrangements for the heiress had been exploited by Mr. Roussel for his own purposes.

According to Mr. Papadimitriou, Athina had been insured with the international firm Lloyds since 1989, immediately after her mother's death. In 1992, another firm cooperating with Lloyds, Control Risk Group, undertook to check security measures for Athina.

The checks were carried out initially in Mr. Roussel's knowledge on a regular schedule. However, since 1994, when relations between Athina's father and the Onassis Foundation deteriorated, the checks on security measures continued in accordance with the contract but without Mr. Roussel's awareness.

Regarding the results of such a check in 1996, Mr. Papadimitriou said a relevant experts' report was alarming. He said that according to the firm, "when the child's father was away from home, all security guards and bodyguards were in their post working as usual, but when Mr. Roussel was home all measures were disrupted."

He charged that Mr. Roussel had been seen driving off on his motorcycle with Athina riding on the back seat without any security measures, since all personnel stayed back at the residence.

Mr. Papadimitriou said if Athina died the legal beneficiaries would be her father and her sisters and brothers - Mr. Roussel's children from his marriage with his current wife.

The Onassis Foundation, he said, would have no benefit out of such an event but it would not let Mr. Roussel "keep an eye on Athina."

[15] Cultural Capital officials want Mount Athos exhibition extended

Athens, 27/11/1997 (ANA)

The exhibition, which opened on June 22, has so far attracted more than 400,000 visitors, with revenues rising to more than half a billion drachmas.

Officials have already forwarded the request for extension to the monastic community of Mount Athos, whose response at the end of next week is expected to be positive.

[16] Director Manoel de Oliveira honored at Thessaloniki Film Festival

Athens, 27/11/1997 (ANA)

Veteran Greek actress Irene Papas, the protagonist in Oliviera's film "The Party" was also scheduled to appear at the awards ceremony.

"I deeply respect Irene Papas and I would like to work with her in other movies in the future," the 89-year-old director said earlier, adding that despite his advanced age he's ready to produce more films.

[17] Junta torture victim vindicated by EuroCourt decision over pension

Strasbourg, 27/11/1997 (ANA/AFP)

The Court was of the opinion that the length of the proceedings had gone beyond what could be considered "reasonable" under Article 6 of the European Convention on Human Rights.

The Court sentenced Greece to pay one million drachmas to Nicolas Stamoulakatos, who was born in Greece in 1936 and currently lives in Britain.

Mr. Stamoulakatos had waited for more than 10 years for his claim to be satisfied for approval by the Greek state for a disability pension.

Greece is a member of the Council of Europe and the European Court's rulings on human rights are binding for Athens.

Consequently, Greek justice must take a decision soon on Mr. Stamoulakatos' case.

[18] Greece to aid in construction of Albanian prison

Athens, 27/11/1997 (ANA)

That decision was reached yesterday by the Justice Ministers of Greece and Albania, Evangelos Yiannopoulos and Thimio Kondi, respectively.

The formation of a committee composed of three Greek and three Albanian officials was also decided in order to promote wider co-operation in legal matters.

Co-operation will focus on providing legal assistance for the drafting of a new Albanian legal system and the training of Albanian judicial officials and lawyers.

Mr. Kondi also visited the offices of the Athens Bar Association (DSA) with Mr. Yiannopoulos and met its president, Antonis Roumbakiotis, as well as members of the governing board.

Mr. Yiannopoulos informed the DSA of the problems which Albania faces in regards to the judicial system and the legal profession.

[19] Fencing tournament in Athens

Athens, 27/11/1997 (ANA)

Registration for participation include 18 women of the top 32 women in the world, and 22 men also from the world's top 32. Greece's top 16 men and women will compete in the event.

[20] Study on gold mines' operation in Halkidiki pending

Athens, 27/11/1997 (ANA)

Referring to reactions by local residents who have at times obstructed IGME work teams from carrying out necessary controls, Mr. Pachtas termed them "unacceptable."

Replying to a relevant question, he said "the activities carried out at present by TVX Hellas in the region are of a geological nature and are not aimed at creating the gold mine or a dam for depositing sewage.

[21] ... Tension continues to mount in Halkidiki

Athens, 27/11/1997 (ANA)

The two patrol cars and a private car belonging to a policeman were parked just outside the village Olympiada at a small distance from the plant, which has been cordoned off by a strong police contingent for the past few days to prevent further disturbances after destruction of some of the TVX Hellas plant's equipment and clashes between protesting local residents and police two weeks ago.

TVX Hellas, a subsidiary of the Toronto-based TVX Gold company, received a concession for exploitation of the Cassandra gold mines in March 1995 after international tendering. Under the privatization agreement signed in December 1995, the 67 billion drachma investment is expected to create some 617 jobs.

The Olympiada community, however, denied the incident and accused the police of unprovoked intervention against the village.

Community president Nikos Mitsiou told the ANA that police from the protection force had thrown firecrackers and chemicals at two young locals who were returning to their homes, enraging the villagers and prompting a demonstration in the village's central square.

The president of the union of Halkidiki police Athanassios Kyparissis accused the Olympiada community president and residents of disinformation and unprovoked attacks against the police.

"They are trying to turn their problem with TVX into a disagreement with the police," he said.

The residents of the six villages in the vicinity of the gold mines and plant claim that the mining activities would have serious repercussions on the environment and tourism to the region.

[22] Piraeus hosts 15th international shipping conference

Athens, 27/11/1997 (ANA)

The conference is being held by the Piraeus Marine Club, and London's City University Business School's shipping and trade department, headed by Professor Costas Grammenos, who is coordinating the conference. Mr. Soumakis referred to the dependence of Greek-flagged ships on the foreign market and international money markets, making them vulnerable to international economic crises. He also mentioned a recent report by the European Commission on sea transport, which he said was based on the same policy as that proposed by Greece, that is the deregulation of maritime services without any unilaterally imposed protectionism.

The minister also emphasized the importance of training in all areas of shipping.

The meeting was addressed by British Ambassador in Athens Sir Michael Llewellyn Smith, Greek Shipowners' Union president Yiannis Lyras and the Rector of the City University Professor Raoul Franklin.

[23] Greece on last lap towards convergence - Papantoniou

Athens, 27/11/1997 (ANA)

The 1998 budget would mark the final stage towards convergence, he maintained, adding that Greece would be a member of the European Monetary Union on January 1, 2001. He said that the system of withholding tax, which along with the principle of social justice was the basis of the government's taxation policy, would be included in the tax bill to be tabled in parliament at the end of December or early January 1998.

He rejected the opposition's claims that the government was introducing new austerity, saying that there had been a 3.5 percent increase in workers' real incomes over the past four years, an increase that was much higher than that agreed upon with the producer classes.

Additional measures would be taken to protect groups such as the unemployed and those on low pensions, as well as small business owners.

"These groups are suffering," he said, "not because of the government's economic policy but because of the restructuring of the economy."

[24] New OA president elected

Athens, 27/11/1997 (ANA)

He succeeds professor Nikos Blesios, who resigned.

Mr. Blesios resigned due to an incompatibility of posts, since he was also the rector of the Piraeus University at the same time.

Mr. Karantzas, the company's managing director to date, will also exercise the duties of president until a new one is appointed.

[25] Greek industrialists want tighter economy

Athens, 27/11/1997 (ANA)

Iason Stratos, president of the Federation of Greek Industry (SEB), told the "Hour of the Greek Economy" conference that public spending should be cut, including reducing the number of state employees, and the tax system revised.

Moves that would also help competition were the retention of investment grants, whose status is being debated under a new development bill being drafted, Mr. Stratos told delegates at the conference, organized by the Hellenic-American Chamber of Trade and SEB.

Abolishing the grants would damage the modernization of industries, which had improved under previous development incentives.

In addition, any employment criteria contained in eligibility requirements for grants should not act as a deterrent to capital intensive and high technology investments, he said.

[26] Greek firms need to use total quality systems-minister

Athens, 27/11/1997 (ANA)

"Ninety two percent of Greek enterprises employ less than 10 people, which does not favor their competitiveness," Ms Diamantopoulou told the conference.

"A failure to introduce total quality management systems means these firms cannot expand in domestic and foreign markets, Ms Diamantopoulou said.

Active in promoting total quality is the state-run Greek Standardization Organization. Slated to start operations in February 1998 is a certification agency also set up by the state.

Ms Diamantopoulou welcomed co-operation by the public and private sectors in promoting total quality for the production process.

She said the role of the state in boosting industry was to create a healthy economic environment, curb disincentives, and implement investment programs.

Under a six-year government plan, the structure and number of businesses should have changed by 2001, when the plan ends, and product and service quality should have improved, Ms Diamantopoulou said.

[27] Greece best placed to exploit Eastern European markets

Athens, 27/11/1997 (ANA)

Speaking at the conference "The Hour of the Greek Economy" organized by the Hellenic-American Chamber of Commerce, Mr. Karatzas referred to a European Commission report finding that Greece was the best-placed EU member state to take advantage of the opening up of central and eastern Europe.

The report predicted an 10 percent increase in Greek production by 2010 as a result of the exploitation of neighboring markets.

He also expounded upon the Bank of Greece's activity in the Balkans and eastern Europe and also urged businesses to make use of the Athens Stock Exchange as a source of capital in expanding abroad as well as to strengthen their company profiles.

[28] Stocks resume climb after correction

Athens, 27/11/1997 (ANA)

Traders said the market was encouraged by the government's assurances of an equitable tax policy and stable conditions in international markets.

The general index closed 1.35 percent higher at 1,421.49 points.

The FTSE/ASE index was 0.83 percent up at 812.56.

Sectors indices ended higher. Banks rose 0.22 percent, Insurance was 0.85 percent up, Leasing increased 0.66 percent, Investment rose 1.33 percent, Construction was 1.39 percent up, Industrials jumped 2.67 percent, Miscellaneous soared 3.90 percent and Holding was 2.03 percent higher.

The parallel market index for small cap companies rose 1.39 percent.

Trading was heavy with turnover at 31.2 billion drachmas including block trades in Viochalco and Halkor worth 20 billion drachmas.

Broadly, advancers led decliners by 155 to 59 with another 19 issues unchanged.

Boutaris, Balkan Export, Heliofin, Doudos and Hellenic Bottling scored the biggest percentage gains, while Daring, General Warehouse, Fintexport and Minerva suffered the heaviest losses. National Bank of Greece ended at 25,350 drachmas, Ergobank at 15,0 00, Alpha Credit Bank at 16,450, Delta Dairy at 3,355, Titan Cement at 11,890, Intracom at 12,940 and Hellenic Telecommunications Organization at 5,250.

[29] Merrill Lynch call warrant on Greek state telecom yields 160 pct

Athens, 27/11/1997 (ANA)

The warrant on a basket of OTE shares was offered at 460 drachmas per share at its launch two years ago and rose to 740 drachmas on maturation.

Call warrants are negotiated on the Luxembourg stock market and are issued under British law.

Call warrants are offered as private placements for institutional investors.

[30] Greek utilities finalize three-year plans

Athens, 27/11/1997 (ANA)

During the meeting of officials of the Public Power Corporation, Hellenic Telecommunications Organization, Hellenic Post Offices, Hellenic Railways, Athens Water Utility and City Transport Organization presented their targets on revenues, spending and investments as part of a three-year program.

[31] Tobacco farmers urge retention of trade group

Athens, 27/11/1997 (ANA)

In a letter to Prime Minister Costas Simitis, tobacco farmers from Macedonia and Thrace warned that such a move would have serious consequences on the tobacco farming industry.

Tobacco farmers argued that all competitor countries within and outside the European Union maintained a special agency to support tobacco products. "Abolition of the national tobacco organization would seriously hurt Greek tobacco's competitiveness," the letter said.

[32] Intracom distinction at telecom awards

Athens, 27/11/1997 (ANA)

The company's "Internet over Satellite" (IoS) program competed with 319 other programs from 26 European countries and Israel.

European Commission President Jacques Santer presented the awards in Brussels.

End of English language section.

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