Athens News Agency: Daily News Bulletin in English, 00-02-19

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

CONTENTS

[01] Greek AIDS researchers say new study fosters hope for diagnosis, therapy development

[02] Military dialogue between Greece, Turkey a 'difficult thing', Tsohatzopoulos says

[03] Athens comments on Turkish infringements of air space

[04] Turkey to deliver demarche to Greece on Monday for alleged harassment of Turkish warplanes

[05] Greek-Turkish rapprochement spurs better business between old rivals, entrepreneurs say

[06] U.S.-Greek joint council on Balkan cooperation to meet on Monday

[07] Tsohatzopoulos says Greece should maintain its military capacity at highest level

[08] Radar-guided passage through Bosporus expected next year

[09] 2004 Olympics will be "different"- Bakouris

[10] Kasoulides on tour of Moldova and Ukraine

[11] ND leader accuses government of wanting to preserve the establishment

[12] Political Spring party will not enter election race

[13] Healthy budget will fuel social policy programmes - Papandoniou

[14] Greek stocks rebound at the end of the week

[15] Derivatives market ends mixed

[16] Bonds end flat in lacklustre trade

[17] Drachma noses up vs euro, drops vs dollar

[18] Greek stocks end week with substantial losses

[19] Finance ministry to auction 10-yr bonds Tuesday

[20] Gov't seeks private sector's participation in road projects

[21] Diamantopoulou urges help for Europe's 65 million needy

[22] Papandoniou to speak on Greek economic achievements

[23] Hellenic Petroleum to invest Dr 230-240 bln in northern Greece

[24]Alpha Credit Bank issues 10-year bond

[25] Lampsa shareholders' meeting postponed, minority reacts

[26] Greek deputy minister addresses conference in Lisbon

[27] Credits to N. Greece hotels to offset Kosovo losses

[28] PM cites gov't efforts to upgrade support for individuals with special needs

[29] Interior Minister to chair Europa network conference in Athens

[30] Ambitious project seeks to shed light on Peloponnesian War period

[31] Rare ancient Macedonian shield unveiled at Thessaloniki symposium

[32]Bomb scare on Athens mayor's plane

[32] Bomb scare on Athens mayor's plane

[33] Culture Ministry denies reports claiming that the Cultural Olympiad will be privatised

[34] Gov't condemns media investigations into private lives

[35] Trio arrested in connection with Thessaloniki teen's kidnapping

[36] Nea Liosia landfill remained closed on Friday

[37] BOC reports impressive operating profits for 1999

[38] The Athens dailies at a glance

[01] Greek AIDS researchers say new study fosters hope for diagnosis, therapy development

Greek AIDS researchers have developed a new technique which may lead to better diagnostic procedures and, consequently, therapies for HIV-infected individuals, according to a study published in respected British medical journal The Lancet on Saturday.

The study "Effect of recent thymicomigrants on progression of HIV-1 disease" focuses on the thmyus, a small gland close to the heart responsible for producing "T-cells", which are involved in the immune function.

T-cells are central to the direct immune system and to healing virally infected cells, one of the authors of the study, Angelos Hatzakis, of the Athens University Medical School, said.

To date, there has been no way of measuring the thymus which many scientists believed stopped functioning after the age of 30. However, newer studies showed this not to be the case and in fact, indicated that the thymus may be active after the age of 30, although its function is quite reduced, Hatzakis said.

The study is based on the specimens and clinical data of 131 hemophilia patients followed for 16 years, and on a novel technique measuring the concentration of recent thymic emigrants (RTE) in the peripheral blood.

A decreasing concentration of RTE is associated with faster progression to AIDS and death. This association is independent of HIV-1 viral load, CD4 cells and age at seroconversion, currently considered the known important determinates of AIDS and mortality.

The study found that RTE values are to a large extent lower in HIV-1 infected individuals compared to uninfected individuals of the same age. Also found was that the rate of RTE decline is approximately nine-fold higher in HIV-1 infected individuals who developed AIDS compared to long-term non-progressors.

"We found a way to find to measure thymic output by using RTE cells," Hatzakis said. "In normal people of a certain age the thymic output (RTE cells) could be widely different. In HIV infected individuals the thymic output (or RTE concentration) is generally reduced but the most important thing is that the RTE value can be predictive of the progression of the disease to AIDS or death."

The practical implications of the study are that RTE values could prove to be a useful laboratory test to select HIV-1 infected individuals for anti-retroviral treatment in addition to known tests such as the plasma HIV-1 viral load and CD4 cell count, according to the study.

Also, treatments enhancing thymic production of T-calls may be an option in some groups of patients in addition to currently-used antiretroviral treatment.

"We must develop therapies which will enhance thymic output," Hatzakis said.

[02] Military dialogue between Greece, Turkey a 'difficult thing', Tsohatzopoulos says

Greece on Friday reiterated its position that any discussion of military dialogue over the Aegean should be based on a 1988 memorandum signed by the then Greek and Turkish foreign ministers.

Calling recent low-impact bilateral agreements signed between the two countries of the highest political importance, Defence Minister Akis Tsohatzopoulos told a conference on the new era in Greek-Turkish relations that cooperation and dialogue between the two countries' militaries was "a difficult thing"

"We will inevitably enter into a dialogue about the essence of our sovereign rights. And we can not get into such a discussion," he said.

Tsohatzopoulos said the Aegean was a Euro-Atlantic area of security and cooperation and that the basis for a framework for further Greek-Turkish rapprochement over the Aegean should be that proposed by former NATO chief Javier Solana.

The next steps will be based on the Papoulias-Yilmaz memorandum which will facilitate our seeking ways to implement an agreement, he said.

New NATO Secretary-General George Robertson is expected to bring up the issue of confidence-building measures when he makes his first visit to Athens February 23-24.

Tsohatzopoulos said Turkey was indicating that it wanted to achieve rapprochement with Europe but domestic developments in Turkey at times indicated a somewhat different picture.

He asked whether the conservative Turkish view - of Turkey's linking up with the EU as a mere formality while the country continues to act as a regional superpower - would prevail.

"Whatever view prevails," he said, "the objective reality demands the support of Turkey's rapprochement with Europe."

On the issue of European security, he said, Greece had successfully managed to conduct talks with its neighbour in the NATO framework, thus promoting the issues of collective security.

He said that armaments were a critical issue in relations between the two countries, as the structure and deployment of Turkish armed forces worked "antagonistically" with Community standards.

[03] Athens comments on Turkish infringements of air space

Greece said on Friday that its Air Force fighters would intercept Turkish jets each time they infringed national air space.

Government spokesman Dimitris Reppas was commenting on Turkish protests on the Greek Air Force's interception of Turkish fighters.

Reppas said the Greek ambassador to Turkey had not been called in for a formal Turkish protest but that Athens expected he would be, soon.

[04] Turkey to deliver demarche to Greece on Monday for alleged harassment of Turkish warplanes

Ankara is planning to deliver a demarche to Athens on Monday over the alleged harassment of Turkish warplanes by Greek fighter planes in the airspace over the Aegean Sea, according to a report by Turkish newspaper "Hurriyet". "Hurriyet" reported on Thursday that Turkish aircraft were harassed by Greek planes in international airspace over the Aegean on February 11 and 14. The newspaper said that the Turkish Foreign Ministry notified the Greek Embassy in Ankara in this respect.

The report was confirmed by Greek diplomatic sources in Ankara. The sources said that the Turkish Foreign Ministry notified the Greek Embassy in Ankara on Thursday that the demarche will be delivered on Monday.

The Turkish newspaper had mentioned a similar event on February 9 and stressed that "Ankara attributes this harassment to a difference of opinion between the Greek government and the Greek Armed Forces."

[05] Greek-Turkish rapprochement spurs better business between old rivals, entrepreneurs say

Businessmen hold the key to better relations between Greece and Turkey, according to speakers from the two countries' business communities at a conference in Athens on Friday.

Speakers at the Hellenic Foundation for European and Foreign Policy (ELIAMEP) conference on a new era in Greek-Turkish relations said on Friday that growing trade between the two countries could make Turkey Greece's fourth largest trade partner and opened up prospects for greater cooperation in a number of areas.

About 100 Greek businessmen will visit Turkey on February 25 to put out feelers regarding setting up shop in the neighbouring country.

According to the latest figures, only 32 Greek business concerns are active in Turkey, while 43 Turkish concerns have opened their doors in Greece.

Panayiotis Koutsikos, the president of the Federation for Greek-Turkish Business Cooperation, told the meeting that a policy of dialogue begun mid-1999 on finding common ground between the two countries on non-contentious issues had already given Greek exports to Turkey a new boost and revealed a pressing interest in the area of trade and services.

Turkey's proximity to Greece reduces to a minimum transport costs and all indications are that the trade balance is headed for equilibrium. Turkey could become Greece's fourth largest trade partner, he said.

Greek businessmen said elections on April 9 would have no adverse effect on Greek-Turkish relations as they were developing.

"The outward looking approach of the Greek businessman is now a given," said Stelios Argyros, the president of the board of Preveza Mills and a former head of the Federation of Greek Industries. "They look to investing abroad, and this is one result of the healthy Greek economy."

Isaac Alaton, the president of Turkish company Alarco Holdings, told the conference that "peace was in the heads of the business community" but that work was needed on ironing out small irritations.

He proposed talks between the mayors of Greek islands and Turkish coastal cities on resolving problems such as energy transfer (which costs more when it comes from mainland Greece instead of the Turkish mainland, which is closer) or joint tourism programmes which would lift obstacles to movement between the two countries.

Alaton said there were obvious areas of cooperation in tourism between the two countries such as the holding of yacht races on the Turkish coastline, as well as exploiting the massive hotel complex of Porto Carras in northern Greece for golf tournaments for tourists, a facility that Istanbul lacks. But, he said, attention needed to be given to resolving problems in movement.

"Whenever my friends have crossed over to play golf they have had to deal with visa problems with the border authorities," he said. He noted that he had missed Foreign Minister George Papandreou's speech on Thursday due to delays with the authorities at the Greek airport.

"This is the importance of the little things in major issues," he said.

[06] U.S.-Greek joint council on Balkan cooperation to meet on Monday

The initial meeting of the Initiative for Technological Cooperation in the Balkans (ITCB) joint United States-Greek council will be held on Monday in Thessaloniki, northern Greece, a United States Information Service press release noted on Friday.

The two governments will be represented by U.S. Ambassador Nicholas Burns, Development Minister Evangelos Venizelos and Macedonia-Thrace Minister Yiannis Magriotis.

The creation for ITCB was originally proposed by U.S. President Bill Clinton and Greek Prime Minister Costas Simitis and was formalised in 1998, with the signature of a relevant agreement by U.S. Commerce Secretary William Daley and Greek National Economy and Finance Minister Yiannos Papantoniou.

ITCB aims at promoting U.S.-Greek joint business ventures in the Balkans, as well as the transfer of thechnologies and private sector expertise to the region's countries, via existing institutions.

[07] Tsohatzopoulos says Greece should maintain its military capacity at highest level

National Defence Minister Akis Tsohatzopoulos on Friday attended the installation ceremony for a battery of the US-made "Patriot II" anti-missile system at Sedes airbase in Thessaloniki, northern Greece, and said that over the next decade Greece needs to maintain its military capacity at the highest level and secure its defence clout and its armed forces' deterrent capability.

Tsohatzopoulos said the strengthening of the country's armed forces plays a decisive role for the security of Cyprus and the better promotion of negotiations with its neighbours and particularly in the case of Greek-Turkish negotiations.

Referring to Turkey, he said the strengthening of the armed forces functions "in relation to the prospect of accession and the shaping of new relations between Turkey and the European Union, which is a development which will give us the possibility of negotiating with Turkey on better terms."

Commenting on the "Patriot" anti-missile system and its inclusion in the country's air defence system, Tsohatzopoulos said it will secure, with the full installation and operation of four "Patriot III" batteries at the end of 2001, anti-aircraft coverage for all of the Aegean and of continental Greece.

Tsohatzopoulos predicted that crises will also break out in this part of the world in the 21st century and determined southeast Europe, the Caucasus, the Black Sea and the eastern Mediterranean as possible flashpoints.

[08] Radar-guided passage through Bosporus expected next year

Turkish press reports on Friday referred to a long-delayed project to install a radar-guided maritime navigation system along the Bosporus, with a US firm reportedly ready to complete the project next year.

According to reports, Lockheed Martin has been awarded the contract to install the 24-million-dollar system, expected to control maritime traffic in the narrow strait on a 24-hour basis. The system also features direct satellite communications as well as weather and oceanographic input.

Turkish figures put the number of vessels passing through the Bosporus at around 50,000 every year, while Ankara has increasingly cited concerns in recent years over the heightened possibility of accidents to call for changes in the Montreux Treaty -- the pact that governs the status of the Straits and ensures the free transit through the Bosporus.

A tender for a radar system in the Bosporus, Dardanelles and Sea of Marmara was been issued in 1997.

[09] 2004 Olympics will be "different"- Bakouris

The 2004 Olympic Games in Athens will be different, marking a turn away from their commercialisation, Athens 2004 organising committee managing director Kostas Bakouris said Thursday, addressing an event organised by the press attache of the Greek Consulate of Sydney, K. Korkidis.

The 2000 Olympics in Sydney would be the most advanced, while the Athens Games would be "different, with special emphasis on culture", Bakouris said during the event, attended by Australian and Greek-Australian journalists, as well as tens of Greek businessmen on a visit to Sydney.

A few members of the Athens 2004 committee also attended, since most of them were in a meeting with International Olympic Committee (IOC) chairman Juan-Antonio Samaranch.

"The Athens Olympics will mark a turn away from commercialisation of the Games," Bakouris said.

He said that some two-thirds of the athletic installations for the Athens Games were already completed, while the remaining one-third mainly comprised the Olympic Village that will house the competing athletes.

Athens, he hadded, had an impeccable cooperation with SOCOG, the Sydney Olympics organising committee.

Bakouris also anticipated that Sydney, whose athletic installations were concentrated in one area, could face a greater traffic problem than Athens, where the installations were more spread out.

[10] Kasoulides on tour of Moldova and Ukraine

Cyprus Foreign Minister Ioannis Kasoulides is visiting Moldova and will afterwards visit Ukraine, at the invitation of his counterparts in the two countries.

The Cypriot minister will have meetings with government officials and members of the countries' business community aiming at the development of bilateral commercial and financial relations.

Kasoulides, who left for Moldova Thursday night and will be in Ukraine on February 21 and 22, will also brief his interlocutors on the latest developments in the Cyprus problem.

During his visit to Moldova, the Cypriot minister will meet President Petru Lucinschi, Chairman of the Parliament Dumitru Diacov, his counterpart Nicolae Tabacaru and the Mayor of the capital, Chisinau, Serafim Urecheanu.

During his visit to Ukraine, Kasoulides will meet Prime Minister Victor Yushenko, his counterpart Boris Tarasiuk, Minister of the Economy Serhiy Tigitko and Minister of Justice Syuzanna Stanki. He will also meet Chairman of the Supreme Council (Parliament) I. Plyusch.

[11] ND leader accuses government of wanting to preserve the establishment

Main opposition New Democracy party leader Costas Karamanlis on Friday accused the government of causing misery and provoking with its arrogance, while its sole concern is to preserve the establishment.

"This government has given all it had to give. It has become tired. It does not want to do and it cannot do. It has become captive, trapped and pinned down. It causes misery and provokes with its arrogance, while its sole concern is to preserve the establishment," Karamanlis told his party's preliminary conference in Larisa, central Greece.

Karamanlis called on party supporters to "ignore the establishment's provocations aimed at creating tension, polarisation and fanaticism" and, appealing to voters of all parties, added that "we are not separated by yesterday's labels, but we are united by today's problems which are neither red, nor green, nor blue."

He accused the government of being disinterested, of failing to prepare itself and of making no move to defend the interests of farmers at the European Union. He said that at the next Council of Agriculture Ministers, he will be present with his government's minister to struggle.

Karamanlis also reiterated his party's proposals on a decrease in production costs, such as the abolition of the Special Consumption Tax on fuel for agricultural use, a decrease in VAT for agricultural machinery to 8 percent, a 50 percent decrease in the price of electric power for agricultural use, a decrease in taxation on land transfers and a decrease in interest rates for loans provided by the Agricultural Bank of Greece.

[12] Political Spring party will not enter election race

Political Spring (POL.AN.) leader Antonis Samaras on Friday announced his party will not enter the April 9 general elections, adding, however, that the party continues to exist as a "live" political body.

He accused the two major parties, ruling PASOK and main opposition New Democracy (ND) of creating a climate of political tension, while he also accused economic vested interests for "forcing his party out of current political developments".

Samaras founded the party in 1993 after leaving the then ruling New Democracy party. Political Spring garnered 4.88 per cent of the vote in the 1993 elections and 10 parliamentary seats, but failed to enter parliament in the following elections in 1996.

[13] Healthy budget will fuel social policy programmes - Papandoniou

National Economy and Finance Minister Yannos Papandoniou said on Friday that the state budget's "significant" surplus would be used to support an ambitious social policy programme, shortly to be announced by the ruling PASOK party.

Papandoniou was speaking after meeting with Prime Minister Costas Simitis and other ministers on the course of the country's economy.

Simitis is expected to announce the ruling party's social platform over the next few days. The programme will include economic and social policy directions for a new four-year term the ruling socialists are seeking in general elections on April 9.

Simitis received a briefing from his economic team on a variety of issues, including those related to farmers, small and medium-size businesses and wage-earners.

Papandoniou also presaged tax breaks, telling reporters that the ruling party's platform would also have room for "tax policy measures with the central and sole aim of relieving the weaker social classes".

[14] Greek stocks rebound at the end of the week

Equity prices ended the last trading session of a negative week with gains on the Athens Stock Exchange, supported by renewed buying interest in smaller capitalisation stocks, a sector badly hit in the previous four sessions.

National Economy and Finance Minister, Yiannos Papandoniou, said it was only natural that the latest developments in crude oil prices would have an adverse effect on the Greek and the other 120 international stocks markets.

"But all this talk of a crisis in the market is exaggerated, the phenomena are temporary and the stock market suffers from rising oil prices," Papandoniou said.

The general index, which fell 5.08 percent in a four-day plunge, ended 1.04 percent higher on Friday to 5,277.05 points, off the day's highs of 5,315.54.

The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 0.74 percent to 2,843.41 points, while the FTSE/ASE MID 40 index ended 1.56 percent higher at 873.23 points.

Turnover was a low 169.96 billion drachmas reflecting investors' reluctance to open new positions in the market.

The parallel market index for smaller capitalisation stocks ended at 1,429.00 points, up 2.60 percent.

Broadly, advancers led decliners by 282 to 53 with another six issues unchanged.

Hadzikraniotis, Technial Publications, Remek, Pairis, Ekter, Electra, Athens Water and Viosol (c) ended at the day's 10.0 percent limit up.

Fanco, Barba Stathis, Athinea, Macedonian Plastics, Mouzakis and Texapret suffered the heaviest percentage losses.

Hellenic Telecoms and ETBAbank were the most heavily traded stocks.

[15] Derivatives market ends mixed

Futures contract prices made a mixed appearance on the last trading session of a subdued week on the Athens Derivatives Exchange (ADEX) on Friday, despite gains in the two benchmark indices FTSE/ASE 20 and FTSE/ASE 40.

A total of 715 contracts were traded on the FTSE/ASE 20 index, worth 4.1 billion drachmas. The February contract ended at 2,842 points, the March contract at 2,923 and the April at 2,924 points.

A total of 748 contract were traded on the FTSE/ASE 40 index, worth 2.6 billion drachmas. The February, March and April contracts ended at 870, 907 and 919 points, respectively.

[16] Bonds end flat in lacklustre trade

Bonds in the domestic secondary market on Friday again finished flat in light turnover despite healthy inflation data from the US that gave markets abroad an uptick, but quickly led to profit-taking.

The Greek benchmark 10-year bond showed a yield of 6.55 percent from 6.52-6.56 percent a day earlier and 6.56 percent in the two sessions before that. It was trading at 98.35.

The paper's yield spread over German bunds fluctuated between 97 and 99 basis points from 95-98 basis points a day earlier and 96 basis points on Wednesday.

Trade through the central bank's electronic system totalled 38 billion drachmas, the same as on Thursday, from 36 billion drachmas on Wednesday and 50 billion drachmas on Tuesday.

Analysts said there was little room for the yield spread over bunds to fall further, and that even a central bank rate cut of 75-100 basis points would have little impact on the market.

The only factor that the market had yet to discount was the extent of the rate cut, expected in March, itself a reason for the market's fatigue, the analysts said.

[17] Drachma noses up vs euro, drops vs dollar

The drachma rose slightly against the euro but fell versus the dollar in the domestic foreign exchange market on Friday following the US currency's rise abroad.

At the central bank's daily fixing, the euro was set at 333.360 drachmas from 333.500 drachmas a day earlier and 333.280 drachmas on Wednesday.

Also at the fixing, the dollar was set at 338.220 drachmas from 336.060 drachmas in the previous session and 339.790 drachmas on Wednesday.

On Thursday, heavy demand for the European single currency had prompted the Bank of Greece, or central bank, to sell more than 200 million euros. The rising euro had hit 334.21 to the drachma before demand eased.

[18] Greek stocks end week with substantial losses

Equity prices suffered substantial losses during the week under review on the Athens Stock Exchange following a plunge in turnover as investors remained sidelined for one more week.

Smaller capitalisation stocks came under heavy pressure testing investors' nerves despite Friday's rebound.

Analysts said rising oil prices in international markets led to fears that the Bank of Greece could delay a decision to lower interest rates in the country, currently awaited early next month.

They also said that institutional investors were restructuring their portfolios, raising their holdings in blue chip stocks.

The general index ended the week 4.10 percent lower. The week's turnover totalled 984.536 billion drachmas, to a daily average of 196.906 billion, sharply down from 336.303 the previous week.

[19] Finance ministry to auction 10-yr bonds Tuesday

The finance ministry is to auction 180 billion drachmas of 10-year bonds on Tuesday in a re-opening of its January 29, 1999 issue.

The bonds in paperless form carry an annual 6.30 percent coupon, the ministry said in a statement on Friday.

The settlement date is February 25.

[20] Gov't seeks private sector's participation in road projects

The Greek government is seeking private sector's participation in big infrastructure projects through the assignment of sections of the country's national road network to private investors, National Economy Undersecretary Christos Pachtas said on Friday. The assignment contracts will be signed following tendering, due to begin this year.

Pachtas said sections of the national road network likely to be assigned to private investors were: the Korinth-Tripolis-Kalamata road (162 km), the Korinth-Patras road (120 km), Yliki-Maliakos (83 km), Larissa-Katerini (73 km), the E-65 section (244 km) in central Greece, linking Volos and Lamia with the Egnatia Road and the Ionia Road (222 km) in western Greece, linking Ioannina with Agrinio and Patras.

The government plan envisages the immediate start of works for the construction of roads following the signing of assignment contracts.

The plan also includes construction of all infrastructure works in the Korinth-Patras railway network linked with the construction of the road network.

Pachtas said the government was drafting a new legislation covering assignment contracts aimed at simplifying procedures, ensuring correct construction of projects and attracting private investments.

[21] Diamantopoulou urges help for Europe's 65 million needy

The European Union is perhaps better placed than any other large economic and political block to help its poor and fight social exclusion, Social Affairs Commissioner Anna Diamantopoulou said on Friday.

"The 65 million Europeans living in poverty and not benefitting from economic development should not escape our attention... Europe has the potential, perhaps more than any other political and economic entity in the world, to offer a productive and cohesive society in the face of rising globalization," she said in an address to a conference on "European Identity in a Global Economy" in Sidra.

"We wish to fight social exclusion and we can do this by combining competitiveness with social cohesion," she added.

[22] Papandoniou to speak on Greek economic achievements

National Economy and Finance Minister Yannos Papandoniou will be the guest speaker at an event in London on Monday on the developments and prospects of the Greek capital market.

The event is expected to be attended by senior analysts from international financial houses and institutional investors.

While in London the Greek minister will meet with his British counterpart Gordon Brown and the president of the London Stock Exchange. Also scheduled is a meeting with the British undersecretary for European Affairs.

Papandoniou leaves for Brussels on Tuesday, taking up an invitation to speak on the course of the Greek economy to the European Parliament's committee for economic and monetary policy.

[23] Hellenic Petroleum to invest Dr 230-240 bln in northern Greece

Hellenic Petroleum, a heavily traded stock on the Athens bourse, is to invest 230-240 billion drachmas in northern Greece over the next five years, its president and managing director, Eleftherios Tzellas said on Friday.

Addressing a presentation in Thessaloniki on the state-owned firm's share capital increase, Tzellas said the investments would enable Hellenic Petroleum to use the north as a springboard to increase its business in the Balkans.

"Our investment in the Former Yugoslav Republic of Macedonia was just the first step, and Albania is the next," he added.

The firm's expansion into the Balkans would be gradual, and dependent on legal and operational changes in the region's economies.

Tzellas said that the company was not yet prepared to invest in Bulgaria as the institutional framework in the neighbouring country was lacking, and Romania presented impediments to acquisitions.

[24] Alpha Credit Bank issues 10-year bond

Alpha Credit Bank, a blue chip on the Athens bourse, has issued a 10-year, 100-million-euro bond, it said in a statement on Friday.

The bond's rate is three-year Euribor plus 0.80 percent, which rises by 1.30 percent annually if Alpha fails to exercise its right of early redemption after the fifth year, the statement said.

The paper is part of the bank's programme of medium-term bond issuance for listing on the Luxembourg Stock Exchange.

The proceeds will boost Alpha's capital adequacy and help to finance growth plans in the domestic market, the Balkans and eastern Mediterranean.

Alpha Credit is the first Greek bank to launch a medium-term bond issue programme, which will allow it ease of access to financial markets abroad and eliminate the time-consuming procedures needed for individual bond issues, the statement said.

[25] Lampsa shareholders' meeting postponed, minority reacts

Lampsa, a Greek listed company owners of Athens hotel "Grande Bretagne", on Friday postponed its schedule general shareholders' meeting for the third consecutive time after reactions by minority shareholders demanding official action on allegations of share price manipulation in the period September-October 1999.

A new and final date was set for March 7 to elect a new board.

A group of private shareholders in the company, who initially planned to occupy the hotel during the meeting, asked for the Capital Markets Commission and the Financial Crimes prosecutor to jointly examine allegations of share price manipulation in the two-month period, when investors massively bought Lampsa's shares.

They also urged state agencies to examine the methods used by National Bank of Greece and Starwood Hotels, Lampsa's two main shareholders until recently, to sell their equity stakes to the public.

The group of private investors claimed that National Bank of Greece benefited around 60 billion drachmas from the sale.

Constantine Kyriakides, chairman of the board, replying to shareholders' questions on the composition of Lampsa's share capital, said that the company's main characteristic was its multi-share composition, an innovation in the Greek market.

He said that "shareholders own no more than 5.0 percent and thus they remain unknown".

Kyriakides noted that Starwood retained Lampsa's management according to a contract ending in 2013.

[26] Greek deputy minister addresses conference in Lisbon

Greek Deputy Labour Minister Christos Protopapas on Friday addressed the first day of a two-day conference, here, entitled "The European Identity in the Global Economy," stressing the need for economic reforms and social cohesion in Europe.

Greek European Commissioner Anna Diamantopoulou and Portuguese Prime Minister Antonio Guteres were among the participants of the conference.

[27] Credits to N. Greece hotels to offset Kosovo losses

Credits of three billion dr. have been earmarked from the Public Investments Programme for hotel units in northern Greece to help offset losses suffered during the Kosovo crisis, it was announced Friday.

The decision, taken at a national economy ministry meeting, mainly applies to hotels in Pieria prefecture.

[28] PM cites gov't efforts to upgrade support for individuals with special needs

Prime Minister Costas Simitis addressed the fourth annual conference held by the National Confederation of People with Special Needs, which began in the Greek capital on Friday and concludes on Sunday.

"Individuals with special needs are members of society and have the right to remain in their community. They must be supported as much as possible within the normal educational, health, workplace and social services structures."

According to Simitis, his government is centering its attention on implementing a series of measures for specially challenged individuals, including reforms in the education sector, the workplace, in accessibility to services, health and welfare, as well as to combat prejudice.

"The government is demonstrating its sensitivity in earnest towards individuals with special needs, and at the same time, we're planning our policy with a target of social justice and equal opportunities," he said, citing as one example the implementation of a special ID card for citizens judged disabled to a degree of more than 67 percent - a document to be used in gaining better access to public administration services.

[29] Interior Minister to chair Europa network conference in Athens

Interior Minister Vasso Papandreou will chair a Europa network international conference concerning natural and technological disasters in Athens on February 21-22. Representatives of the Council of Europe's 24 member-states will be participating.

The conference will focus on promoting measures aimed at coordinating actions and mutual assistance and the development of new initiatives to protect citizens from major natural and technological disasters.

Bilateral cooperation agreements will be signed during the conference between Greece and Russia and Ukraine. The countries participating in the conference are Russia, Armenia, Algeria, Azerbaijan, Belgium, Bulgaria, France, Georgia, the Former Yugoslav Republic of Macedonia (FYROM), Spain, Italy, Malta, Morocco, Monaco, Ukraine, Portugal, Moldova, San Marino, Turkey, Germany, Switzerland, Japan and Cyprus.

[30] Ambitious project seeks to shed light on Peloponnesian War period

New York's famed Adelphi University on Thursday presented an ambitious research programme that aims to scientifically prove "beyond the shadow of a doubt" that bones recently discovered by Greek archaeologists were those of Athenian fighters killed in battles against the Spartans in the Peloponnesian War.

The bones were found in four mass graves in the ancient public cemetery outside ancient Athens' western wall.

At a formal reception, pathology and anthropology professor Anagnostis Angelarakis, who heads the project, outlined the new project to a gathering of academics, researchers and representatives of the largest educational and cultural institutes in the region.

The project aims to document whether the bones in the four mass graves -- called 'polyandria' by the ancient Greeks -- in a section of the Dimosio Sima, or public cemetery, outside the western wall of Athens, actually belonged to Athenian fighters.

Prof. Angelarakis said the project entailed methodical examination of the bones in order to answer, "apart from the question of their origin, a plethora of other questions that will enlighten many aspects of the historic, political, archaeological, anthropological, ethnological and demographic framework of the period".

Angelarakis, a veteran of several archaeological and anthropological studies in Greece and Cyprus, was taking part in a dig on Thassos island when he learned of the discovery of the polyandria.

In an interview with the Greek-American newspaper Proini, Angelarakis said he hoped to learn a great deal about the history of the soldiers -- their age, the time and cause of death, their physical dimensions, pathological and epidemiological conclusions, their diet, and about death rites, such as how cremation was carried out.

It is hoped that the study of the bones would reveal details that were not recorded by Thucydides, Angelarakis said. Given the latest achievements in high technology, analysis of the finds should take some three years, he said.

"We will be collaborating with several other institutions," he said, adding that as soon as the studies were completed, the results would be compiled and presented to archaeologists "who will need these results to formulate integrated conclusions".

After completion of the project, he said, the bones "should be returned to where they belong, Athens".

[31] Rare ancient Macedonian shield unveiled at Thessaloniki symposium

The remains of a famed Macedonian shield offered to the ancient temple of Dion, south of present-day Thessaloniki, by third century BC ruler Demetrius the Besieger were discovered a short distance from the location where several royal inscriptions lay unearthed for centuries.

Dion was the most sacred of Olympian shrines for the ancient Macedonians while today it is a pre-eminent archaeological site in the history-laden northern Greece province of the same name: Macedonia.

According to historians, Alexander the Great personally offered sacrifices at the Dion complex's main temple.

The shield features a depiction of a large star with 12 rays - the emblem of the Macedonian royal house -- between which the inscription "Vassileos Dimitriou" (King Demetrius') is clearly visible.

"The cyclical arrangement of the artwork and the themes doesn't leave any doubt that it is a bronze Macedonian shield, of the few that have been preserved and located," according to professor Dimitris Pantermalis, the head of excavations at the Dion site for the past 30 years.

The Greek professor also told the Athens daily "Ta Nea", in a feature article published on Friday, that he believes other artwork on the shield depicts the orbits of planets. It's the artwork on the shield along with comparisons of other monuments that allows archaeologists to date the artifact to the first half of the third century BC, roughly the same time that Demetrius ruled Macedonia (294 to 287 BC) as a successor of Alexander. History paints Demetrius, the son of Antigonus I, as the ablest and most ambitious of Alexander's subsequent successors, bent on achieving the glory of his all-conquering predecessor.

The remains of the shield were unveiled on Friday in the northern Greek port city by Pantermalis during an annual symposium detailing excavation and preservation efforts throughout Macedonia, and centered in Thessaloniki.

Additionally, several other priceless artifacts recently discovered in an ancient residential area adjacent a structure identified as Dionysus' villa, along what in antiquity was Dion's main thoroughfare, were also presented. The villa is noteworthy in itself, as it features a well-preserved mosaic of large dimensions.

Previously discovered finds from Dion, as well as recently uncovered artifacts, will shortly go on display at a new hall next to the older Dion Museum.

[32] Bomb scare on Athens mayor's plane

Bomb disposal experts rushed to Athens International Airport early on Friday following an anonymous warning of a bomb on the airplane carrying Athens Mayor Dimitris Avramopoulos back from Istanbul but a search found no evidence of any explosive device.

All services at the airport were put on alert when the warning call came through.

The plane carrying the mayor back from Istanbul, where he signed a cooperation and friendship agreement, landed normally and was immediately checked by anti-terrorist squad police and sniffer dogs.

However, no trace of any explosive device was found, authorities said.

[33] Culture Ministry denies reports claiming that the Cultural Olympiad will be privatised

The Culture Ministry on Friday denied reports claiming that the Cultural Olympiad will be privatised and that its organisation will be given to a "bogus agency' of the Culture Ministry.

An announcement by the Culture Ministry said that no relevant clause has been included in the respective draft law which "leaves a window open" for the delivery of cultural heritage to private citizens.

[34] Gov't condemns media investigations into private lives

The government on Friday condemned a recent spate of media allegations of sexual misconduct involving a number of well-known artists. "Media investigations in the private lives of citizens is to be condemned as it causes general confusion and a climate of suspicion, and undermines the base of society and of the political system," said government spokesman Dimitris Reppas.

He added that the situation could not be tolerated and urged the National Radio and Television Council to apply the law."The law provides for fines of up to 500 million drachmas and a temporary or permanent suspension of media programmes or licences," he said.

Further, Reppas said that the Council of State was currently studying a draft presidential decree on the protection of privacy, which would harmonise Greek legislation with elsewhere in Europe.

Justice Minister Evangelos Yiannopoulos on Thursday announced the formation of a committee of judges, academics and journalists which would study the issue and make recommendations to check "the unrestrained activities of certain television channels". Also on Thursday, television presenter Makis Triantafyllopoulos said he submitted to a public prosecutor evidence regarding the sexual life of "at least one political figure".

[35] Trio arrested in connection with Thessaloniki teen's kidnapping

Three suspects have been arrested in connection with the abduction for ransom of an 18-year-old Thessaloniki student this past week. The teenager was released on Wednesday and returned to his home with a taxi after his family left 44 million drachmas along the curbside of a northern Greece highway. Kidnappers had originally demanded 70 million from the teen's affluent parents.

Police on Friday said marked banknotes amounting to 200,000 drachmas were found in the possession of one of the three men, while an investigation is continuing.

According to reports, the kidnapped teen was able to relay several bits of important information to authorities regarding the location where he was held and even a brief description of his captors.

[36] Nea Liosia landfill remained closed on Friday

The Nea Liosia landfill, which serves the greater Athens area, remained closed on Friday due to a strike by local government employees.

Striking contract workers in the early afternoon, meanwhile, protested outside the interior ministry in downtown Athens over various pay-related demands.

[37] BOC reports impressive operating profits for 1999

The Bank of Cyprus Group (BOC) recorded excellent operating profits for 1999, reaching 133 million Cyprus pounds, an increase of 103.2 per cent. (One Cyprus pound is trading at around 1.8 US dollars).

Presenting the preliminary results for 1999 at a press conference Friday, the Group's chairman Solon Triantafyllides said the excellent results enable the Bank to raise the final dividend from 20 per cent to 24 per cent.

Referring to the BOC's prospects, Triantafyllides described them as "very encouraging" and said that with the successful issue of capital it will make in Greece, the Group's profitability will be enhanced.

The increase in the Group's preliminary operating profits are mainly due to the good performance of its banking operations in Cyprus, the significant increase in profit from the Group's insurance operations, the very good performance of BOC (Greece) and the increased profitability as a result of the conditions prevailing during 1999 in the Cyprus Stock Exchange.

[38] The Athens dailies at a glance

ADESMEFTOS TYPOS (Rizos): "The Athens bourse PASOK's tomb - For the sixth consecutive day Thursday, the bourse's general index plunged by 1.98 percent - Panic-stricken meeting with Simitis for immediate intervention".

AKROPOLIS: "One thousand new cars a day - It is unknown where they will circulate and park".

APOGEVMATINI: "'Pink' mud drowning Greece - Enough with the irresponsible rumours".

ATHINAIKI: "'Pink' horror, the videotapes of prominent citizens, politicians and showbiz people in compromising situations turned over by investigative journalist Makis Triantafyllopoulos to the public prosecutor - Spyros Karatzaferis: I saw them all, and chills went up and down my spine".

AVGHI: "Greece in 'big brother's' target - New revelations on the worldwide monitoring network Echelon".

AVRIANI: "Simitis intervention on Athens bourse - Decisive moves to raise the general index - Strict orders to bank governors".

ELEFTHERI ORA: "They're opening files on them in order to finger them - Unprecedented action by the Greek consulate in London against the Greeks of Britain".

ELEFTHEROS: "Seduction plan".

ELEFTHEROS TYPOS: "The reform propaganda floundering - The ministry's pamphlets show magical picture of education sector".

ELEFTHEROTYPIA: "The oil scam - How, and why, the 'maypole' of price increases is set up".

ESTIA: "The legal financing - What is foreseen for political parties, candidates".

ETHNOS: "The fuel fever fell - How a global crisis was averted".

EXOUSIA: "Populist theatrics by Simitis and Karamanlis - Campaigning with promises of benefits and bogus shows of humanitarianism".

KATHIMERINI: "Oil the regulator, as drop in price to 20-25 dollars per barrel is anticipated - Athens bourse agonising over the development".

LOGOS: "'Storm' in the education sector, just 50 days before elections".

NIKI: "The Athens Stock Exchange a boomerange - PASOK's pre-electoral investment at the limit down".

RIZOSPASTIS: "Electoral catwalk of inhumane politicians - Simitis and Karamanlis in doses of televised 'philanthropy".

STO KARFI: "Orgy of rumors and alleged names - Storm over the pornography - The supreme court prosecutor must break the abscess now".

TA NEA: "The Athens bourse ran out of...fuel - Trading fell once again to below 200 billion dr.".

TO VIMA: "Garbage battles on the streets and on TV - Pre-electoral shots and scandals (?)".

VRADYNI: "'Pink mystery' for politicians - Triantafyllopoulos submitted three videotapes to justice".

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