Subject: Greek Financial Market Update on July 5 From: Rising Sun ASE General Index: 917.54, up 1.02% or 9.26 points Turnover: GRD 4.3 bil on 1.99 mil shares(1.66 mil shs advanced) Block transactions: Nat'l Bk of Gr-15 m shs at 12,600, Hell Biscuit-40 mo at 1,800, Bk of Attika-230m shs at 887 Forex fixing: usd=225.-, dem=162.416 Stock market observation: Started quietly and dull. Last one hour, the market started to pickup rapidly and traded heavily. All construction stocks across the board went up and the sector index closed with 1.22 % gain. Small cap stocks were out of the scene. Bank stocks were very active. Nat'l Bk of Gr's turnover was 490 mil drs and Ergo Bk 298 mil drs, top two issues. Hellenic Sugar was the most active bid-ask issue. -Athibor 1mo: 15.54% -EIB(European Investment Bk) signed a loan contract with Stet(Hellas)SA for 10 bil drs to develop mobil phone communication. Shareholders in Stet are Italy's Stet, US's Nynex Network, and a Greek InterAmerican Insurance. -State ETBA bank will become a commercial bank. -The next interest rate cuts will be in September. -Government will announce a package of measures worth 200 bil drs to fight unemployment. Current unemployment rate is 5.9 %. -State telecom OTE will choose the advisor for the partical floatation to ASE by July 14 among Nat'l Bk of Gr, Comm Bk, ETEBA BK, and Alpha Finance. -Shipping revenues totaling usd 514 mil in the first quarter of 1995, which is the increase of 26.7 % from last year. -Mutual fund net assets on June 30 amounted to 1.76 trillion drs or 10.4 % of 1993 GDP. Fixed income and money market funds made up 87 %, growth fund at 8% and int'l fund at 5%. -Bk of Greece drained 150 bil drs of 14 day repo tenter with ave rate of 15.49%. Goldenbull ps. It is very hot today. It reached 40C or 104F...Real hot!