1. “EU Shareholder Rights Directive: Effects and Practical Solutions” January 12, 2011 “Globalization on the march!” Panayotis Dracos President and CEO Union Of Listed Companies

2. European Issuers 15 Countries Represented: AustriaFrancePoland BelgiumGermanyPortugal BulgariaGreeceSpain CyprusItalySwitzerland FinlandNetherlandsUnited Kingdom www.eneiset.grUnion of Listed CompaniesPanayotis Dracos

3. Globalization on the march, part I  U.S. Securities and Exchange Commission Committee of European Securities Regulators or CESR, European System of Securities and Markets or ESMA  The U.S. Financial Accounting Standards Board (FASB) International Accounting Standards Board (IASB)  The U.S. Federal Trade Commission (FTC) European Union (E.U.) Competition Commission www.eneiset.grUnion of Listed CompaniesPanayotis Dracos

4. Globalization on the march, part II  There are 65 Shipping Companies of Greek interests Most of them listed in NYSE or Nasdaq Three are listed in London Three, in coastal shipping, quoted in Athens One in Milan, Italy  BUT the top 6 banks, and 35 of the top 40, that finance shipping are European!! Of $500 billion of ship financing, $ 275 billion have been provided by the first 29 European banks! While five Greek banks which list as 30 th and 35 th thru 38 th between them, supply an additional $13 billion to ship financing! Beyond any doubt this is unmistakable proof of globalization on the march! www.eneiset.grUnion of Listed CompaniesPanayotis Dracos

5. Codes, Rules and Regulations under constant revision and harmonization, Part I  Market regulations: Market Abuse Prospectus Transparency and MiFID directives  Shareholder rights  Shareholder transparency and identification  Corporate governance www.eneiset.grUnion of Listed CompaniesPanayotis Dracos

6. Codes, Rules and Regulations under constant revision and harmonization, Part II  Accounting standards  Financial reporting  Corporate social responsibility  Corporate governance reporting  Credit rating company rules  Certified public accountant rules  Banking and insurance capital adequacy rules  Clearing and settlement rules and infrastructures (including T2S initiative) www.eneiset.grUnion of Listed CompaniesPanayotis Dracos

7. “EU Shareholder Rights Directive: Effects and Practical Solutions” January 12, 2011 “Globalization on the march!” Panayotis Dracos President and CEO Union Of Listed Companies