Monday, 30 June 2003

+++ Resolutions of the Ordinary General Assembly of INTRACOM's shareholders of June 30, 2003 +++

We hereby inform you that today's Ordinary General Assembly of Shareholders of INTRACOM resolved upon all items of the Agenda of 6.6.2003, except for the 7th item (Modification of clause 5 of the Company's Article, about the share capital due to equity options) for which a high quorum is required.

Therefore, the Assembly of shareholders will come back with a 1st Follow-up Assembly, following a new invitation by the Board of Directors, within the time limit foreseen by Regulation Κ.Ν. 2190/20.

For the remaining items of the Agenda of 6.6.2003, the Ordinary General Assembly took the following decisions:

1. It approved and confirmed the company's annual financial Statements for 2002, as they were composed and announced by the Company's Board of Directors.

Regarding the dividend(s) for the financial year 2002, the Ordinary General Assembly of the Company's shareholders approved the distribution of dividends at € 0,20, per share. Beneficiaries of the dividends are the shareholders of the company as of the end of the Athens Stock Exchange session of June 30th, 2003. From Tuesday July 1st, 2003 the company's shares will be negotiated in the Athens Stock Exchange with no right to dividends for the financial year 2002.

The precise date for commencing the deposit of dividends as well as the terms for their deposit will be defined by a new resolution of the Company's Board of Directors, which will be announced in the Press.

2. It approved and confirmed the Consolidated Financial Statements of the Company for the financial year 2002 as they were composed and published by the Company's Board of Directors.

3. It exonerated the Members of the Board of Directors and the Certified Auditor-Accountants from any responsibility for the management of the Company, the Financial Statements and the Consolidated Financial Statements for the financial year which ended on 31.12.2002.

4. It elected the Main and Substitute Certified Auditor-Accountants for the control of the financial year 2003, as follows:

(i) From the Company "Σ.Ο.Λ. Α.Ε. ΟΡΚΩΤΩΝ ΟΡΚΩΤΩΝ ΕΛΕΓΚΤΩΝ - ΛΟΓΙΣΤΩΝ",
- Primary Auditor, Mr. Alexandros Tziortzis
- Secondary Auditor, Mrs. Zoi D. Sofou

(ii) From the Company "ERNST & YOUNG HELLAS CERTIFIED AUDITOR-ACCOUNTANTS S.A.
- Primary Auditor, Mr. Panagiotis Papazoglou
- Secondary Auditor, Mr. Christos Glavanis.

5. It confirmed the election of Mr. Georgios Deligiannis, as a new Member of the Company's Board of Directors and its 4th Vice Precident, which took place on May 30, 2003 for the remaining term of the year. He is elected in replacement to the resigned Mr. Karolos Gikas,.

6. It elected a new 9-member Board of Directors, comprising of:
Mr Socratis Kokkalis, Mr Konstantinos Dimitriadis, Mr Konstantinos Tsoukalidis, Mrs Feroniki Tzavella, Mr Georgios Deligiannis, Mr Georgios Anninos, Mr Dimitrios Klonis, Mr Christos Chalkias, Mr Dimitrios Chatzigrigoriadis.

The term of the above Board of Directos is five years until 30.6.2008.

From the above elected members the General Assembly, in applying clause 3 of the Regulation Ν. 3016/2002, appointed Mr. Christos Chalkias and Mr. Dimitrios Chatzigrigoriadis, as Independent non-executive Members of the Board of Directors.

7. It modified the following clauses of the Article:
Regarding the confirmation of copies or abstracts of the Board of Directors Proceedings or of the General Assembly of the shareholders of the Company

- clause 17 paragraph 3

"The copies and abstracts of the proceedings are confirmed by the President of the Board of Directors or by the senior Vice President of the Board of Directors"

- clause 25 paragraph 2

"Copies and abstracts of the proceedings of the Board of Directors are confirmed by the President of the Board of Directors or by the senior Vice President of the Board of Directors"

Regarding the maximum number of Members of the Board of Directors.

- clause 19 paragraph 1

"The Company is directed by the Board of Directors which consists of three (3) to eleven (11) board members"

Regarding the number of Vice Presidents of the Board of Directors.

- clause 21 paragraph 1

"The Board of Directors, immediately after its election, convenes, forms a body and elects its President and Vice President. The maximum number of Vice Presidents of theBoard of Directors is four (1st, 2nd, 3rd, 4th Vice Presidents)"

- clause 21 paragraph 3

"The President of the Board of Directors chairs the Assemblies. When the President is absent or hindered from being present, his authorities are taken over by the senior Vice President, and when he is in hindrance, the next in order and so on. When even the last Vice President is in hindrance, the President of the Board of Directors is replaced, by a resolution of the Board of Directors, by the Managing Director (Chief Executive) or another Director appointed by him."

8. It approved: a) the already paid monthly salaries of the Members of the Board of Directors who dependents of the Company, following the resolution of the Ordinary General Assembly of the Company's shareholders of 24.5.2002, and b) the renewal of their working contracts for the current financial year. Also, it was decided that the monthly salaries of the Members are not to be increased during the current financial year.

9. It allowed, according to clause 23 paragraph 1 of the Regulation Κ.Ν. 2190/1920, the Members of the Board of Directors and the Directors of the Company to participate in Board Meetings or in the Management of other companies who pursue similar objectives.

10. It announced the list of shareholders from which the Company acquired its own shares, in accordance to the resolution of the Extraordinary General Assembly of its shareholders on March 19, 2002.

Finally, various announcements where made to the shareholders regarding the Company.