The CSE Council published the new list of companies which will make up the FTSE/CySE20 Index following an evaluation on the 15 May 2002 by the relevant committee which reviewed the operation of the index for the period 2 October 2001 to 29 March 2002. It was established that the Index which was made up of 20 selected titles listed on the CSE constituted a large and representative sample of the Cyprus stockmarket and operated successfully. It was also established that the Index had achieved its goal as a reliable “tool” for investors.

The titles of companies listed in the Index, as well as titles of the other companies, will be under observation by the Committee, so that any necessary adjustments can be made, ensuring that they all comply with ground rules of the Index.

The companies which will now make up the Index will be:

Bank of Cyprus Ltd., Cyprus Popular Bank Ltd., Hellenic Bank Ltd., Louis Cruise Lines Ltd., Lanitis Bros Ltd., Suphire Financial Services Ltd., Sharelink Financial Services Ltd., A. Tsokkos Hotels Ltd., Cyprus Trading Corporation Ltd., Pandora Investments Ltd., Aristo Developers Ltd., F.W. Woolworth & Co. (Cyprus) Ltd., KEO Ltd., Libra Holidays Group Ltd., Golden Sun Leisure (Cy) Ltd., D.H. Cyprotels Ltd., Universal Savings Bank Ltd., Renos Hadjioannou Farm Ltd., Multichoice (Cyprus) Ltd. and Marketrends Financial Services Ltd.

The CSE Council notes that the choice of the two companies does not in any way imply any evaluation concerning the quality and activities of each company, but is strictly an evaluation concerning the ground rules of the Index as implemented internationally by the FTSE organisation for relevant indices.