PC SYSTEMS S.A.

Announcement

July 14, 2004 The Ordinary General Meeting of Shareholders, on June 25, 2004 among other issues decided the following: The Company will continue its share buyback program, through the Athens Stock Exchange, until acquiring 10% (meaning an additional 7.42%) of share capital or 930,000 shares. The price target for share repurchases ranges from a maximum price of euros 5 per share to minimum of euros 0.37 per share, while the program's duration is from 07/26/2004 to 06/25/2005.