TELETYPOS SA was founded in 1989 (Gazette 1016/2.5.89) under the name TELETYPOS TELEVISION PROGRAMMES SA and the trade name "MEGA CHANNEL." TELETYPOS SA was the first company to be licensed pursuant to Common Ministerial Decision 19710/29.9.1989. According to this decision, every limited company may hold only one license for the operation of a television station, or participate in only one company that has been granted such a license. For the time being, the Company operates by virtue of a license granted by common decision 19229/10.9.1993 of the Prime Minister's Office and the Ministries of the Interior, Finance and Transport and Communications (Gazette B 713/10.09.1993). The validity of this license was granted consecutive extensions through laws 2328/1995 (article 5 par. 1), 2438/1996 (article 4) and 2644/1998 (article 17). According to article 17, par. 3 of Law 2644/1998, the licenses of this category will continue to apply until the issuance of the licenses proclaimed by the Minister of Press and Mass Media. On 20.03.1998, the Company submitted an application (protocol number 6440/20.03.1998), supported by a complete file. On 1.4.1999 the Ministry of Transport and Communications confirmed, by means of document 55291/1615, the adequacy of the relevant technical study, and the Company awaits the completion of the procedure provided for by the law. The Company is based in the Municipality of Athens, and is registered in the Societes Anonymes Register with number 19407/06/B/89/20. The duration of the Company has been set until 31.12.2090. According to article 2 of the Company's Articles of Association, its objectives are: 1. The production of, and trading in, television programmes and broadcasts, the installation, operation and exploitation of television stations all over Greece, whenever, and under any conditions, this will be permitted. The creation, equipment, organisation and operation of studios for the production and exploitation of television broadcasts, programmes and commercials. 2. The establishment, installation, operation and exploitation of radio stations all over Greece. The production of, and trading in, radio programmes and broadcasts. The creation, equipment, organisation and operation of studios for the production and exploitation of radio broadcasts, programmes and commercials. 3. In order to realise its objectives the Company may: a. Participate in any enterprise with the same, or a similar, objective, of any corporate structure, and provide guarantees in favour of the latter, in order to facilitate their financing, provided that this serves the Company's business activities. b. To co-operate with any person, or legal entity, in any manner. c. To establish branches, or agencies, or offices, in any place. d. To represent any other enterprise, domestic or otherwise, which has the same, or a similar, objective. 4. The Company may cede, at a price, the use of its facilities to third parties. Moreover, the Company may assign its management to other legal entities and undertake the management of other enterprises. It is noted, that the only amendment to the Company's objective during the last five years, which was decided on during the General Assembly of its shareholders held on 28.6.1996 (Gazette 5657/2.8.96), concerns the addition of the following lines to paragraph 3(a): "provide guarantees in favour of the latter, in order to facilitate their financing, provided that this serves the Company's business activities."