In its 30-year history, Intracom Holdings Group has established a solid reputation as a robust, dynamic and forward-looking organization that knows how to learn, evolve and win in a highly competitive and constantly changing international arena.

In 2007, our strategic reorganization into a holding company with distinct operating businesses started to yield fruit. Last year's encouraging signs in cost rationalization, market focus and long-term strategic planning for all Group companies, have now turned into positive results.

Intracom IT Services has been awarded new important contracts, expanding its international footprint. Intracom Defense is acknowledged as the partner of choice for leading defense manufacturers worldwide and NATO-funded programs. Intrakat has an increasing participation in construction projects in Greece and abroad, as well as in telecommunications infrastructure projects leveraging its longstanding expertise and proven competencies to deliver such projects. Intracom Telecom has strengthened its position in EMEA, while in the telecom providers sector, hellas online claims a leading role in the rapidly growing market for broadband services.

In a particularly turbulent year for international markets, our equity price performance was adversely affected by the unfavorable economic environment and in our view does not currently reflect the Group's value and long-term growth potential. Intracom Holdings Group is strategically positioned to grow all its core businesses, prepare for the new challenges that lie ahead, and consistently deliver value to its shareholders though the economic cycle.

Intracom Holdings boasts a portfolio of robust and fast growing companies staffed by high caliber human recourses. Relying on our people, respecting our shareholders, customers and partners, and ultimately inspired by our 30-year history, we are well-positioned to continue delivering value and claim the future.

Socrates P. Kokkalis