Morgan Stanley opens office in Athens

London —

Morgan Stanley announced today that it has opened an office in Athens, Greece.

Located at Valaoritou 18 in Athens, the new office will be headed by Panos Goutakis, a Managing Director with responsibility for business development in Greece as well as in the greater Balkan region. The office will give Morgan Stanley clients in the region easier access to international capital markets and corporate advisory services.

Commenting on the opening, Jonathan Chenevix-Trench, head of Morgan Stanley's Institutional Securities Group in Europe, said: "The Greek market has always been an important one for Morgan Stanley and our decision to open an office there demonstrates our continued and growing commitment to the region. Having a local presence in Athens will provide us with a flexible platform from which to expand our business as our clients' demand for investment banking services grows."

Morgan Stanley is a global financial services firm and a market leader in securities, investment management and credit services. With more than 600 offices in 27 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations.

NOTES FOR EDITORS

Office Address

The office is located at the following address:

Valaoritou 18

Athens 106 71

Tel: (+30) 210 364 0468

Fax: (+30) 210 364 0538

Morgan Stanley in Greece

EQUITY

  • In 2003, Morgan Stanley was Joint Global Coordinator and Joint Bookrunner on a €636 million secondary PPC share issue for the Hellenic Republic.
  • In 2002, Morgan Stanley was Joint Bookrunner on a €665 million accelerated book-built offer of OTE shares for the Hellenic Republic.

DEBT

  • In 2004, Morgan Stanley was Joint Bookrunner on a €350 million senior debt issue, a €400 million Lower Tier 2 issue and, most recently, a €200 million Tier 1 issue for Piraeus Bank.
  • Also in 2004, Morgan Stanley acted as Joint Bookrunner on a €350 million Lower Tier 2 issue for Emporiki Bank and as sole arranger for Emporiki's €2 billion EMTN program.
  • In January 2004, Morgan Stanley was Joint Bookrunner on the €1.75 Bn tap of the inflation-linked bond issue for the Hellenic Republic.
  • In 2003, Morgan Stanley was Joint Bookrunner on a €5 billion bond issue for the Hellenic Republic and participated in the €1.25 billion international bond offering for OTE.
  • In 2002, Morgan Stanley was Joint Bookrunner on a €300 MM Tier 1 issue for Alpha Bank.
  • In 2000, Morgan Stanley acted as Lead Manager on a €1.1 billion bond issue for OTE, and Lead Manager on a €150 million senior notes issue for EFG Eurobank.
  • In 1999, Morgan Stanley was Sole Lead Manager on a €175 million subordinated debt issue for Alpha Bank.

M&A

Morgan Stanley has advised the following clients:

  • OTE on its acquisition of a 19% stake in Romtelecom, 2003
  • EFG Bank on its acquisition of Ergobank, 1999
  • OTE on its acquisition of a 35% stake in Romtelecom, 1998

SECURITISATION

  • In 2001, Morgan Stanley acted as Sole Arranger and Bookrunner on the first-ever securitization of air traffic control revenues for the Hellenic Republic, issuing €355 million of asset-backed securities.
  • In 2000, Morgan Stanley was Arranger and Bookrunner for a €650 million securitization of state lottery receivables for the Hellenic Republic.

Morgan Stanley in Europe

Morgan Stanley opened its European headquarters in London in 1977 and now employs over 6,500 people in Europe. The Firm's other European offices are located in Amsterdam, Frankfurt, Geneva, Glasgow, Luxembourg, Madrid, Milan, Moscow, Munich, Paris, Stockholm and Zurich.