Athens News Agency: Daily News Bulletin in English, 98-05-28

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Strikers protest privatisations around Greece

[02] Protesters try to break through cordon around parliament

[03] Scuffles in Piraeus over building site incident

[04] Gov't set on privatising port authorities, shrugs off strike

[05] Athens court rules Ionian Bank strike is illegal

[06] No gov't plan to investigate Ionian Bank's Tuesday share slump

[07] US analysts say Greek privatisation plan on right track

[08] Key Greek banks receive Cretabank details before int'l tender

[09] Greek stocks nosedive in gov't, union clash over Ionian Bank

[10] Bulgarian court declines to rule in Intracom lottery case

[11] Macedonia Thrace Bank posts 11 pct profit rise in Q1

[12] Parliament rejects call for Olympic Airways fact-finding commission

[13] 3E profits increase

[14] Vartholomeos meets with Canadian leadership, visits Vancouver

[15] Bakoyianni on Cyprus

[16] Gov't calls Ankara's plans for military exercises 'provocative'

[17] Albright to hold separate meetings with Pangalos, Cem

[18] Juan Carlos backs proposal for 'Olympic Truce' headquarters in Olympia

[19] Karamanlis-Sarbanes meeting

[20] Pangalos on official Slovenian visit

[21] Blair invites Simitis to London

[22] Simitis talks with Haralambopoulos, Papoulias

[23] Tsohatzopoulos on recent labour unrest

[24] Search resumes in Veria over location of Alexander's tomb

[25] Fourth day of conference on mass media

[26] Lottery winner lies low

[27] Simitis says framework for access to digital TV in the works

[28] Medical conference on aspirin continues on Kos

[29] Geologists stumble upon three-million-year-old fossil

[30] Pilots safe after training jet crashes

[31] Initial agreement Mamidakis purchase by Ellinika Petrelaia

[32] Piraeus Investment posts Jan-Apr profit jump to Dr 1.5 bln

[01] Strikers protest privatisations around Greece

Athens 28/05/1998 (ANA)

"No one can terrorise the workers. Riot police cannot stop us. The government cannot stop workers' marches by using the police," George Mavrikos, deputy president of the General Confederation of Greek Workers (GSEE), told a rally.

The strike was called by GSEE, an umbrella trade union group representing nearly a million workers in the private and public sectors; and ADEDY, the civil servants union.

Dockworkers also launched a 48-hour strike, disrupting services at the key commercial ports in Piraeus and Thessaloniki, which, like Athens, were also hit by transport strikes and traffic congestion.

The government stepped up its privatisation programme in mid-Mar-ch when the drachma joined the European Union's exchange rate mechanism as a stepping stone to economic and monetary union (EMU).

A commitment was made to shrink the sprawling public sector and cut state spending well before January 1, 2001, the government's target date for EMU entry.

The International Monetary Fund has urged the government to sell majority stakes in state firms, and privatise banks more aggressively.

Athens News Agency

[02] Protesters try to break through cordon around parliament

Athens 28/05/1998 (ANA)

Clashes broke out when the head of a long column of strikers who had previously marched through the city's commercial district came face to face with police deployed around the building.

During the scuffles between police and protesters, one officer was injured and at least ten strikers and bystanders were reported to have fainted.

Mr. Mavrikos was instrumental in ending the clashes through consultations with the head of the police force. The march, rally and clashes brought traffic in central Athens to a standstill.

Athens News Agency

[03] Scuffles in Piraeus over building site incident

Athens 28/05/1998 (ANA)

Tension rose when a group of workers attending a protest rally demanded that a building site foreman should immediately pull two Albanians off the job, claiming they had no work permits.

The foreman called the police, who arrested two protesters and took them to a local police station. One of the two turned out to be the president of the stokers' union, Yiannis Manoussouyiannakis.

The protesters marched to the police station en masse, demanding the release of both men, who were eventually freed from detention.

Athens News Agency

[04] Gov't set on privatising port authorities, shrugs off strike

Athens 28/05/1998 (ANA)

"The ports of Piraeus and Thessaloniki must have their legal framework changed to enable them to survive and become competitive against other ports in the eastern Mediterranean and Black Sea," Merchant Marine Minister Stavros Soumakis told a news confer ence yesterday.

The dockworkers launched a 48-hour strike, with two others planned for the first half of June when a ban on weekend work will also be called.

"I don't think (the current) strike is in anybody's interests," Mr. Soumakis said.

"We haven't taken anyone by surprise, we have done everything legally and all interested parties have been informed of the changes that will happen in these two ports," he said.

The two ports must acquire SA company status before the privatisation process can begin.

Slated to undergo the first privatisation is Thessaloniki Port Authority. The government will float a 49 percent stake on the Athens Stock Exchange after bids are sought through bookbuilding in June 1999.

The same process will be used to float 49 percent of Piraeus Port Authority on the bourse, with bookbuilding scheduled in September 1999.

Athens News Agency

[05] Athens court rules Ionian Bank strike is illegal

Athens 28/05/1998 (ANA)

The Athens court of first instance ordered an end to the strike, which began on May 11. It also banned any further strikes carrying the same demands.

Under the ruling, the president and board of Ionian's union will be fined 400,000 drachmas a day if they fail to call off the strike.

The strike included the occupation of Ionian's computer centre in Piraeus, which ended when riot police moved in on Sunday, removing the strikers.

Athens News Agency

[06] No gov't plan to investigate Ionian Bank's Tuesday share slump

Athens 28/05/1998 (ANA)

On Tuesday, Ionian had slid to 11,670 drachmas on the Athens bourse from 12, 680 drachmas in the previous session, but recouped some of its losses yesterday, edging up to 11,950 drachmas.

Mr. Reppas said in reply to a reporter's question on Tuesday's decline that it was impossible to penalise market movements originating within the bourse, and outside it. The Athens Stock Exchange had shed 1.81 percent on Tuesday, reversing a 2.0 percent rise earlier in the session.

Dampening sentiment was a statement by Moody's Investors Service that it may downgrade its ratings for Ionian and its parent, Commercial Bank of Greece, in the wake of an indefinite strike by Ionian's workers protesting the privatisation.

The financial strength of both banks was jeopardised by the clash, which could lower their worth, Moody's said.

Calling on investors to remain cool-headed, Mr. Reppas again repeated that the government would keep to its plan to sell a majority stake in Ionian Bank.

He also urged workers to contribute to the growth of both banks.

"We are interested in having the bank sold," Mr. Reppas said. Both the government and Commercial Bank denied allegations earlier this month that they had deliberately driven down Ionian's share price in order to ease its sale to private investors.

Athens News Agency

[07] US analysts say Greek privatisation plan on right track

NEW YORK 28/05/1998 (ANA/M.Georgiadou)

A report in the Wall Street Journal on international markets yesterday quoted the analysts as saying that euphoria on the Athens Stock Exchange over the privatisation plan had taken the bourse to successive record closes.

Greece likely to decide on railway restructuring in June Greek National Economy and Finance Minister Yiannos Papantoniou yesterday met officials from the transport ministry and Hellenic Railways Organisation (OSE) to discuss a restructuring plan for the state-owned firm. The government is expected to take its final decisions on the plan in June.

According to ministry sources, the plan will include an early retirement scheme for OSE workers and greater flexibility in working hours. Labour costs will be cut in order to save more than 10 billion drachmas annually in the next five years.

OSE's board will try to make better use of company assets, and cut some of OSE's routes.

Athens News Agency

[08] Key Greek banks receive Cretabank details before int'l tender

Athens 28/05/1998 (ANA)

Bankers said yesterday that Alpha Credit Bank, Ergobank, Eurobank, Xiosbank and the Bank of Piraeus have already received a dossier on the bank's financial status prepared by international accountants Deloitte & Touche.

In addition, Bank of Attica and P&K Stockbrokers have shown interest in receiving Cretabank's dossier. The deadline for bids is Monday, 29 June at Cretabank's office in Athens.

The bank has 87 branches in Greece and employs 1,485 people. Its equity capital totalled 41.9 billion drachmas at the end of 1997.

The bank has a loans portfolio of 199.6 billion drachmas, deposits at 331.7 billion and assets totalling 406.8 billion drachmas.

Athens News Agency

[09] Greek stocks nosedive in gov't, union clash over Ionian Bank

Athens 28/05/1998 (ANA)

The general index ended 3.75 percent down at 2,523.03 points in the aftermath of an announcement by Moody's Investor Service on Tuesday that it was considering downgrading its ratings for Ionian Bank and state Commercial Bank of Greece, Ionian's main sh areholder.

Traders said the Greek market may also have been hit by a decline in international markets.

Sector indices lost ground across the board. Banks plunged 3.61 percent, Insurance dropped 3.33 percent, Investment fell 2.77 percent, Leasing eased 0.09 percent, Industrials ended 4.50 percent off, Construction fell 4.35 percent, Miscellaneous dropped 2.60 percent and Holding ended 0.78 percent down.

Trading was moderate to active with turnover at 67 billion drachmas. Ionian Bank's share price rebounded by 280 drachmas to 11,950 drachmas but Commercial Bank's share price fell 500 drachmas to 19,500.

Broadly, decliners led advancers by 180 to 67 with another 13 issues unchanged.

Maklo, Parnassos, Kalpinis, Radio Athina, Mouzakis, Mediterranean Investment, Atemke, Petzetakis and Elfico scored the biggest percentage gains hitting the day's 8.0 percent limit up.

Sysware, Lavipharm, Ergas, DIS, Elve and Altec suffered the heaviest losses.

National Bank of Greece ended at 43,050 drachmas, Ergobank at 27,010, Alpha Credit Bank at 31,705, Delta Dairy at 4,455, Titan Cement at 23,700, Intracom at 18,750 and Hellenic Telecommunications Organisation at 8, 500.

Athens News Agency

[10] Bulgarian court declines to rule in Intracom lottery case

SOFIA 28/05/1998 (ANA/B.Borisov)

The prosecutor's office filed the petition against Intracom at the Sofia city court late in 1996, asking that a contract allowing Intracom to computerise Bulgaria's Games of Chance Organisation (BST) should be declared invalid.

Intracom, which is a blue chip on the Athens bourse, and Intralot, another firm in the Intracom group, signed a 12-year contract with BST in September 1996. The contract allowed the supply and installation of an on-line system for BST, and the development of other games of chance.

The deal was the biggest foreign investment in information technology in Bulgaria in recent years.

Athens News Agency

[11] Macedonia Thrace Bank posts 11 pct profit rise in Q1

Athens 28/05/1998 (ANA)

The bank said in a statement that provisions in the first quarter were 110 percent higher compared with the corresponding period in 1997, reflecting the new board's plan to fully restructure its portfolio in 1998. The board now includes private Bank of Piraeus, which has acquired a roughly 30 percent stake in the state bank.

Athens News Agency

[12] Parliament rejects call for Olympic Airways fact-finding commission

Athens 28/05/1998 (ANA)

Of 251 MPs present at the roll-call vote, 142 ruling party PASOK deputies voted against, and 106 deputies from New Democracy, Coalition of the Left and Progress and Democratic Social Movement voted in favour. Three Communist Party MPs abstained from the vote. The government is trying to carry out a stringent cost-cutting package in order to save the embattled airline from closure.

Athens News Agency

[13] 3E profits increase

Athens 28/05/1998 (ANA)

Sales exceeded 97 billion drachmas as against 63.6 billion drachmas in the corresponding period last year.

Profits in the first quarter have been burdened with negative exchange differences of 765 million drachmas.

Athens News Agency

[14] Vartholomeos meets with Canadian leadership, visits Vancouver

VANCOUVER 28/05/1998 (ANA - I. Frangouli)

The prime minister, in the presence of Greek-Canadian deputies Eleni Bakopanou, Yiannis Kounis and Jim Karigiannis, asked the Patriarch to contribute to the restoration of human righs in Cuba and to his effort to persuade Washington to lift an embargo o n the Carribean state.

On his part, the Patriarch expressed his concern over the violation of human rights worldwide, and promised his full support to Mr. Chretien's campaign.

During his meeting with Mr. Axworthy, the Patriarch raised the issue of the reopening of the theological schhool of Halki in Turkey.

The Orthodox prelate then left for the capital of British Columbia, where he attended an official dinner organised jointly by the Toronto diocese, Canada's Orthodox Ukrainian, Russian, Romanian, Bulgarian and Serbian Churches, as well as the Church of A merica.

Vancouver Mayor Philip Owen, who attended the dinner, announced that the city declared May 26 "Patriarch Vartholomeos Day", and that the municipal council had decided to name a street where the Greek Community Centre is located after him.

Athens News Agency

[15] Bakoyianni on Cyprus

NICOSIA 28/05/1998 (ANA - G. Leonidas)

She spoke after a meeting with Cyprus President Glafcos Clerides.

Asked to comment on Prime Minister Costas Simitis' policy regarding the Cyprus issue, she said that the first word belongs to the Cyprus government.

"I want to make this clear, that for us national issues are not an area of political confrontation. We support the government of Cyprus with all our strength and that goes for all Greek parties."

Athens News Agency

[16] Gov't calls Ankara's plans for military exercises 'provocative'

Athens 28/05/1998 (ANA)

In response, National Defence Minister Akis Tsohatzopoulos initially described Ankara's move as "normal", stressing however, that the location of the exercises, southeast and southwest of Crete or some 250 miles from Turkey, as a "provocative choice by the neighbouring country. He also added that it was "within the general political choices of Turkey".

The issue, he said, will be dealt with through the usual procedures. On his part, government spokesman Dimitris Reppas said the Turkish exercises in the Aegean and in two areas south of Crete "contain an element of provocation which should not leave the international community indifferent".

Replying to reporters' questions, Mr. Tsohatzopoulos rejected the use of the term "moratorium" on military exercises in the Aegean, stressing that the initiative of NATO Secretary General Javier Solana regarding confidence- building measures (CBMs) in the Aegean consisted in the implementation of an agreement to limit exercises and flights during the summer months.

"I hope that we will within the next two or three weeks have such an agreement again this year. But the issue is the duration of the agreement. We believe it should be longer than the two months which has been the case up to now, and be extended to two- and-a-half months. The question of when it will commence is not really the issue," Mr. Tsohatzopoulos said.

The Greek minister had a meeting yesterday with Prime Minister Costas Simitis on the multi-million-dollar armaments programme aimed at bolstering the defence capability of the Greek armed forces, as well as talks on Greek- Turkish relations and the forth coming meeting of NATO foreign and defence ministers.

On the armaments programme, Mr. Tsohatzopoulos said it had been agreed to convene the Government Council for Foreign Affairs and Defence (KYSEA) next month to take decisions on part of the programme, so that by the end of the year, following successive KYSEA meetings, the entire programme will have been approved and its implementation may commence.

Opposition : Main opposition New Democracy party spokesman Aris Spiliotopoulos accused the government of "continuous backtracking and negligence which made Ankara insolent".

The Turkish military exercises, Mr. Spiliotopoulos said, constitute a "show of power tantamount to a threat of use of force".

He called on the government to denounce Turkey's decision to the EU, NATO and the United Nations.

Athens News Agency

[17] Albright to hold separate meetings with Pangalos, Cem

WASHINGTON 28/05/1998 (ANA - T. Ellis)

"Both Turkey and Greece are members of the North Atlantic Council and are close allies of the United States, and my experience has been when Secretary Albright is at one of those meetings, she in one way or another meets with all the members of the North Atlantic Council,"US State Department spokesman James Rubin replied to a question here last night.

"It is also my undrestanding that there is a strong possibility of some separate bilateral meetings outside of the actual NATO session," the spokesman added.

Athens News Agency

[18] Juan Carlos backs proposal for 'Olympic Truce' headquarters in Olympia

Athens 28/05/1998 (ANA)

He made the statements at a luncheon given in ancient Olympia in honour of the Spanish royal couple, stressing that Madrid would fully support the proposal by Athens and the International Olympic Committee (IOC) for such an endeavour in Olympia.

Juan Carlos and Queen Sophia arrived by helicopter in the early afternoon, accompanied by Alternate Foreign Minister George Papandreou.

They were greeted by the mayor of ancient Olympia Georgios Dedes, the president of the 2004 Olympic Games organising committee Stratis Stratigis, and the two Greek IOC members, Nikos Filaretos and Lambis Nikolaou.

G. Papandreou on 'Olympic Truce' : On his part, Mr. Papandreou said he was certain that the Athens 2004 Games could act as a catalyst for peace in the coming century.

He added that the centre proposed for ancient Olympia would provide "neutral ground for dialogue and mediation," where all sides could have contacts in pursuit of peace and friendship among peoples.

After the luncheon, Juan Carlos and Sophia were given a tour of the museum and nearby archaeological sites. Before travelling to Olympia, the Spanish monarch was presented the key to the City of Athens by Mayor Dimitris Avramo-poulos at town hall.

Visit to National Archaeological Museum : Earlier in Athens, Juan Carlos and Sophia inaugurated an exhibition entitled "The Ancient Greeks in Spain: On Hercules' trail" at the National Archaeological Museum. The exhibition consists of 250 ancient Greek artifacts discovered on the Iberian Peninsul a and dating from the 7th century BC on through to the Venetian era.

"Three thousand years later, Spain wished to bring to Greek territory a witness of the Greek influence in the making of Spain's history. Today, the descendents of those Greeks can stand before a past which is a shared past of Greeks and Spaniards," Juan

Carlos said at the ceremony before departing with Sophia for ancient Olympia.

Addressing the Spanish king, Culture Minister Evangelos Venizelos called for Spain's assistance in Athens' effort for the return of the Parthenon Marbles from Britain.

He also told the royal couple that in ancient Olympia they would be able to see first-hand preparations for the 2004 Olympic Games, adding that the Barcelona Games were "an important guide for us in this effort."

Athens News Agency

[19] Karamanlis-Sarbanes meeting

Athens 28/05/1998 (ANA)

According to press reports, Washington holds Ankara responsible for the deadlock in efforts to resolve the Cyprus problem, while they insist on Turkey's European prospects.

Also present at the meeting were US ambassador to Athens Nicholas Burns and ND officials.

In a related development, ND officials announced that Mr. Karamanlis will today begin a four-day tour of Magnisia, Larissa, Karditsa and Trikala.

Athens News Agency

[20] Pangalos on official Slovenian visit

LJUBLJANA 28/05/1998 (ANA)

Both FMs later signed a bilateral transit agreement.

Discussions centered around European Union and NATO enlaregment and the situation in Kosovo and Bosnia, while various bilateral issues were discussed as well.

The two ministers also discussed a double taxation avoidance agreement, as well as port connections.

Greek exports to Slovenia amount to US$15 million, while Slovenian exports to Greece reached US$24 million.

It should be noted that the Hellenic Foreign Trade Board (HEPO) and the Slovenian Chamber of Commerce signed a cooperation protocol.

HEPO recently organised seminars for Slovenian businesspeople in Athens and a visit of Greek businesspeople is expected in Slovenia.

Mr. Pangalos extended Prime Minster Costas Simitis' and Parliament President Apostolos Kaklamanis' invitations to their counterparts to visit Greece in the near future.

Athens News Agency

[21] Blair invites Simitis to London

Athens 28/05/1998 (ANA)

Mr. Reppas said Mr. Blair's invitation was "of a social nature" but said there were no details of when it would actually take place.

Athens News Agency

[22] Simitis talks with Haralambopoulos, Papoulias

Athens 28/05/1998 (ANA)

In a statement afterwards, Mr. Haralambopoulos remained firm in his views regarding overall government policy.

Mr. Haralambopoulos said that he pointed out to the premier that there is ground for funds to be found for a more effective social policy. He also expressed concern over certain moves regarding foreign policy issues, but did not refer to the issues on which he has reservations. He added that PASOK must remain a large and unified party , and called on Mr. Simitis to take the first step in this direction, reconsidering the dismissals of three deputies (Yikonoglou, Kedikoglou and Kipouros) from the Parlia mentary group.

Meeting with Papoulias : The premier also met with former FM Karolos Papoulias, with discussion focusing primaily on national issues.

The former foreign minister said afterwards his discussion with Mr. Simitis centred on Greek-Turkish relations. He noted that they both ascertained TurkeyYs provocativenes was growing.

Athens News Agency

[23] Tsohatzopoulos on recent labour unrest

Athens 28/05/1998 (ANA)

"It is an issue which causes concern to us. Nothing can justify tension in social relations. The country is now in a creative course of developing difficult targets, of adjusting the Greek economy to the realities of Europe. No one doubts that it will have a cost," he said in statements in Thessaloniki.

"This cost of adjustment certainly relates to working people as well, who are seeking a more favourable way of participation. However, the manner of dealing with such issues can only be through dialogue, through a process of debate, and can in no case be left to the street," he said. The minister late last night set out the government's policy on the pursuit of participation in EMU during an address to business and labour leaders in the city.

Athens News Agency

[24] Search resumes in Veria over location of Alexander's tomb

Athens 28/05/1998 (ANA)

Two distinguished Egyptian archaeologists, Professors Fawzi El Fakharani and Mahmud El Saadani, are expected to provide the main focus of the conference, putting forward their conflicting opinions on where Alexander's burial place is in Alexandria, the Egyptian port founded by Alexander the Great.

They differ on whether Alexander's tomb is located in the royal Ptolemaic necropolis or in the area of the Roman-era theatre, where the city's ancient centre had been located.

Alexander the Great was crowned in the Temple of the god Ammon in Siwa in 330 B.C., three years after conquering Egypt. After he died in Babylon his body was brought to Egypt for burial, but the tomb has never been found.

Greek archaeologist Liana Souvaltzi's claim to have discovered the tomb caused a sensation in the academic world in early February, 1995 but her findings were later disputed by Greek experts, who said inscriptions found at the Siwa oasis dated from the Roman era.

The conference, attended by 29 archaeologists from Europe, the Middle East and Asia, will be presented with research data on the ancient conqueror's presence in the East, based on findings from Hellenistic colonies that are maintained to this day, inclu ding Ai Khanoum in central Asia and other ancient sites in Pakistan, Libya, Gaza and Israel.

Parliament President Apostolos Kaklamanis was due to open the conference last night, while Thessaloniki University professor and PASOK deputy Dimitris Pantermalis will deliver the opening address.

The conference ends on May 30.

Athens News Agency

[25] Fourth day of conference on mass media

Athens 28/05/1998 (ANA)

Working groups will hold sessions to examine the material presented during the conference and will tomorrow formulate and issue conlusions.

The conference is jointly organised by the Institute of Strategic and Development Studies Andreas Papandreou (ISTAME), the Andreas Papandreou Foundation and the international movement "Women for Mutual Security".

Athens News Agency

[26] Lottery winner lies low

Athens 28/05/1998 (ANA)

The lottery agent, George Sikalos, in the northern Greek city of Serres where the winning numbers were played, told the ANA that he had received telephone calls from supposed winners, "but no one has shown up so far with the winning 'Joker' lottery stub to claim the prize money".

Mr. Sikalos quoted a woman, who had called him several times, as saying she would pass by his agency when the clamour subsides and reporters and TV channels leave because she did not want publicity.

Mr. Sikalos believes the woman is probably the lottery winner herself or the winner's wife.

Athens News Agency

[27] Simitis says framework for access to digital TV in the works

Athens 28/05/1998 (ANA)

"We do not intend to allow experimental transmission of digital programmes before voting of the bill," he said in reply to questions in Parliament.

Describing the procedure to be followed and the conditions for licence applications, the prime minister said they would concern the prevention of concentration in the media sector, the provision of full cover to customers' interests, the commitment of all contract-holders to observe all ethical rules, guarantees regarding the economic viability of the companies involved, and the provision to the state of economic compensation and offsets in the form of services.

Democratic Social Movement (DHKKI) leader Dimitris Tsovolas, who tabled the question, referred to a "war" between major economic interests within Greece over the new television technology, and wondered whether there had been any behind-the-scenes promi ses and commitments by the government.

Mr. Simitis replied that interest was being expressed by a number of businesspeople, as in all other business fields.

"The question is what stand we adopt. The government rules out monopolies, provides the opportunity for healthy competition, and protects the consumer, " he said.

Gov't spokesman : On his part, government spokesman and Press Minister Dimitris Reppas yesterday briefed Parliament's institutions and transparency committee on the government's plans concerning digital television.

"The government aims to have everything done with transparency, and to protect the public interest and consumers," he said.

Setting out the terms for the granting of licences, Mr. Reppas said these would include public control, the exclusion of public project and procurement contractors, control on the origins of wealth of prospecting businessmen, and guarantees regarding th e financial viability of the concern.

Further, he said that the state-owned Greek Radio Television organisation (ERT) and the Hellenic Telecommunications Organisation (OTE) would judge themselves whether to participate in the new television setting.

He added that applications for television licences were already under examination.

Athens News Agency

[28] Medical conference on aspirin continues on Kos

Athens 28/05/1998 (ANA)

German medical researchers claimed they have discovered that regular use of small amounts of aspirin in laboratory tests helped prevent colon, lung, breast and esophagus cancer by up to 50 per cent.

Physicians addressing the event also noted the well-established value of the "drug of the century" for individuals with heart disease and high blood pressure.

Finally, several participants paid homage to the father of medicine and Kos native Hippocrates, who first discovered and used salicylic acid - a basic substance of aspirin - on the eastern Aegean island.

Young journalists from around the Balkans met in Brezovica recently, a Serbian border town, to discuss "multi-culturalism" in the Balkans as well as recent conflicts.

The meeting came after a recently signed agreement during a first-ever Balkan new generation ministers' summit in Athens.

Greece was represented by four individuals and an official from the state- run New Generation General Secretariat.

Athens News Agency

[29] Geologists stumble upon three-million-year-old fossil

Athens 28/05/1998 (ANA)

The fossil was found by geologists from the University of Crete's Museum of Natural History while on an expedition to Rokas Mountain in Profitis Ilias (Temenos), Iraklion, at an altitude of about 450 metres above sea level.

The large stone slab containing a whole fish fossil, believed to have come from the Messaras quarry in Ano Moulia in the Iraklion hinterland, was uncovered during restoration works being carried out on the Mt. Rokas Kastro (castle) by the Temenos Munici pality in collaboration with the museum researchers. The 50-centimetre long slab had been used as an outer step in the castle, built by Nikiforos Fokas in 961, and was discovered by chance by one of the researchers.

Crete University professor and museum staff member Katerina Voreadi said the area was known for its fossils. Messaras, she added, was full of fossils proving that the island had once been under water.

Indications that the island had once been mostly or wholly covered by the sea turn up frequently on Crete's mountains. Recently, sponge fossils were discovered on one of the island's highest peaks, Mt. Psiloritis.

Ms Voreadi said this was the first time such a large fish fossil had been found, as the finds to date had been of smaller fish, and most of them were only sections.

The museum experts will spend the next few days dating the fossil to determine its exact age, although Ms Voreadi is certain it is at least three million years old.

Athens News Agency

[30] Pilots safe after training jet crashes

Athens 28/05/1998 (ANA)

The two pilots, Capt. Evangelos Economou and 1st-Lt. Haralambos Yiannikos, managed to parachute to safety. They were picked up by helicopters before being taken to the 424 Military Hospital in Thessaloniki.

According to initial reports, the crash, recorded at 1:50 p.m., was due to a malfunction.

Athens News Agency

[31] Initial agreement Mamidakis purchase by Ellinika Petrelaia

Athens 28/05/1998 (ANA)

The purchase of Mamidakis, the first Greek petroleum company to be established, is aimed at further strengthening the Ellinika Petrelaia group.

With the acquisition of the trade distribution network and the storage and products trafficking installations of Mamidakis by the Ellinika Petrelaia, its trade company EKO-ELDA ABEE, should be strengthened. The process of signing a finalised agreement w ill last for about a month.

Athens News Agency

[32] Piraeus Investment posts Jan-Apr profit jump to Dr 1.5 bln

Athens 28/05/1998 (ANA)

Its equities-orientated portfolio on April 30 had a total value of 12.8 billion drachmas.

The portfolio's allocation was 71.3 percent domestic equities, 16.7 percent overseas equities, 8.2 percent derivatives, and 3.8 per cent money market funds.

Capital gains were 2.8 billion drachmas at the end of April, and the value of the company's share was 2,004 drachmas. Piraeus Investment's portfolio includes shares not listed on the Athens bourse that show major capital gains.

Athens News Agency

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