Andreas ñ Angelos ñ Aniston ñ Argyros ñ Behrakis ñ Bidzos ñ Calamos ñ Capellas ñ Catacosinos ñ

Catsimatidis ñ Cotsakos ñ Demetriades ñ Demoulas ñ Dikeou ñ Dion ñ Georgiopoulos ñ Hatsopoulos ñ

Jaharis ñ Kalogris ñ Kampouris ñ Karmanos ñ Kartsotis ñ Katopodis ñ Leonis ñ Leonsis ñ

Macricostas ñ Marcus ñ Mehiel ñ Metropoulos ñ Mitchell ñ Nicholas ñ Papajohn ñ Pappas ñ Pappas

Brothers ñ Paterakis ñ Payiavlas ñ Perlegos ñ Perlegos ñ Peterson ñ Rangos ñ Sampras ñ Sclavos ñ

Spanos ñ Stavropoulos ñ Stengos ñ Tsakopoulos ñ Vagelos ñ Valiotis ñ Veronis ñ Wilson ñ Andreas ñ

Angelos ñ Aniston ñ Argyros ñ Behrakis ñ Bidzos ñ Calamos ñ Capellas ñ Catacosinos ñ Catsimatidis ñ

Cotsakos ñ Demetriades ñ Demoulas ñ Dikeou ñ Dion ñ Georgiopoulos ñ Hatsopoulos ñ Jaharis ñ

Kalogris ñ Kampouris ñ Karmanos ñ Kartsotis ñ Katopodis ñ Leonis ñ Leonsis ñ Macricostas ñ

Marcus ñ Mehiel ñ Metropoulos ñ Mitchell ñ Nicholas ñ Papajohn ñ Pappas ñ Pappas Brothers ñ

Paterakis ñ Payiavlas ñ Perlegos ñ Perlegos ñ Peterson ñ Rangos ñ Sampras ñ Sclavos ñ Spanos ñ

Stavropoulos ñ Stengos ñ Tsakopoulos ñ Vagelos ñ Valiotis ñ Veronis ñ Wilson ñ Andreas ñ Angelos ñ

Aniston ñ Argyros ñ Behrakis ñ Bidzos ñ Calamos ñ Capellas ñ Catacosinos ñ Catsimatidis ñ Cotsakos ñ

Demetriades ñ Demoulas ñ Dikeou ñ Dion ñ Georgiopoulos ñ Hatsopoulos ñ Jaharis ñ Kalogris ñ

Kampouris ñ Karmanos ñ Kartsotis ñ Katopodis ñ Leonis ñ Leonsis ñ Macricostas ñ Marcus ñ Mehiel ñ

Metropoulos ñ Mitchell ñ Nicholas ñ Papajohn ñ Pappas ñ Pappas Brothers ñ Paterakis ñ Payiavlas

ñ Perlegos ñ Perlegos ñ Peterson ñ Rangos ñ Sampras ñ Sclavos ñ Spanos ñ Stavropoulos ñ Stengos ñ

Tsakopoulos ñ Vagelos ñ Valiotis ñ Veronis ñ Wilson ñ Andreas ñ Angelos ñ Aniston ñ Argyros ñ

Behrakis ñ Bidzos ñ Calamos ñ Capellas ñ Catacosinos ñ Catsimatidis ñ Cotsakos ñ Demetriades ñ

Demoulas ñ Dikeou ñ Dion ñ Georgiopoulos ñ Hatsopoulos ñ Jaharis ñ Kalogris ñ Kampouris ñ

Karmanos ñ Kartsotis ñ Katopodis ñ Leonis ñ Leonsis ñ Macricostas ñ Marcus ñ Mehiel ñ Metropoulos

ñ Mitchell ñ Nicholas ñ Papajohn ñ Pappas ñ Pappas Brothers ñ Paterakis ñ Payiavlas ñ Perlegos ñ

Perlegos ñ Peterson ñ Rangos ñ Sampras ñ Sclavos ñ Spanos ñ Stavropoulos ñ Stengos ñ Tsakopoulos

ñ Vagelos ñ Valiotis ñ Veronis ñ Wilson ñ Andreas ñ Angelos ñ Aniston ñ Argyros ñ Behrakis ñ Bidzos

ñ Calamos ñ Capellas ñ Catacosinos ñ Catsimatidis ñ Cotsakos ñ Demetriades ñ Demoulas ñ Dikeou ñ

Dion ñ Georgiopoulos ñ Hatsopoulos ñ Jaharis ñ Kalogris ñ Kampouris ñ Karmanos ñ Kartsotis ñ

Katopodis ñ Leonis ñ Leonsis ñ Macricostas ñ Marcus ñ Mehiel ñ Metropoulos ñ Mitchell ñ Nicholas ñ

Papajohn ñ Pappas ñ Pappas Brothers ñ Paterakis ñ Payiavlas ñ Perlegos ñ Perlegos ñ Peterson ñ

Rangos ñ Sampras ñ Sclavos ñ Spanos ñ Stavropoulos ñ Stengos ñ Tsakopoulos ñ Vagelos ñ Valiotis ñ

Veronis ñ Wilson ñ Andreas ñ Angelos ñ Aniston ñ Argyros ñ Behrakis ñ Bidzos ñ Calamos ñ Capellas

ñ Catacosinos ñ Catsimatidis ñ Cotsakos ñ Demetriades ñ Demoulas ñ Dikeou ñ Dion ñ Georgiopoulos ñ

For the eighth consecutive year, TheNational Herald is publishing its list ofthe 50 wealthiest Greeks in America.This year, the list is made up of 48 menand two women who have succeeded inevery imaginable field and industry.Their activities range from InternetTechnology, Politics and Sports, Arts& Entertainment to Land Development,Shipping, Pharmaceutics and, ofcourse, the food industry.

Technology, in particular, occupies aspecial place on this year’s list, as morethan one out of five of its guests areformer technology geeks who made itbig.

Real Estate comes in at a closesecond; there are Greek-ownedcompanies involved in every aspect ofthe Real Estate business all over theUnited States.

Many of the list’s first and secondgeneration Greek Americans honortheir heritage by matching theirbusiness portfolio with an admirablerecord of Greek-related charitablework.

This year, there are also some notablenewcomers (e.g., Peter Georgiopoulos),as well as names which have droppedconsiderably further down the list sincelast year (e.g., Christos Cotsakos), and

others who continue their ascendingcourse (e.g., Ted Leonsis).

Most of the people on this list comefrom a humble Greek background, andmost of them share their wealth with aspouse and children, or have beenmarried at least once.

The National Herald’s List isultimately a story of success in GreekAmerican entrepreneurship, told innumbers. And as with anything thatinvolves money, this list can’t help beinga reflection of everything which moneyhas the potential to reflect: from talentand luxury to struggle and controversy.

50WealthiestGreeks in America

The

The National HeraldFEBRUARY 26, 2005

2 50 WEALTHIEST GREEKS IN AMERICA THE NATIONAL HERALD, FEBRUARY 26, 2005

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George Andreas

Occupation: painter, investor.Age: 67Studies: National Military

Academy; University ofSalonika, Greece.

Born in Athens in 1938; familyfled to mountains to escape Nazis.At 14 began apprenticeship withartist Constantine Artemis.Relocated to NY in 1967. Workinspired by expressionism,abstraction. Apart from art,Andreas has made fortune invarious investments, mainly realestate. Primary art studio locatedin Middleburg, VA on privateestate owned by artist and wife,Ursula. Space will open to publicin 2005. Peter

Angelos

Team: Baltimore OriolesPosition: Chairman of the

Board/CEO.Age: 76Marital status: married, two sons.Fact: First professional baseball

owner to hold game withCuba in 1999.

Has said: "If you're convinced it'sthe right thing to do,move forward."

Former criminal defense attorney;represented workers in class-action suits against Philip Morris,Motorola and the tobaccoindustry. Made fortune in early‘80s by representing asbestosworkers. Major Democratic Partyoperative. Orioles have had sevenconsecutive losing seasons;Angelos still negotiating withMajor League Baseball onrelocation of Montreal Expos,which he believes infringes on hisfan base.

JenniferAniston

Occupation: Actress, producer.Age: 35Real Name: Jennifer AnastassakisFact: While an 11-year-old

student at NY RudolphSteiner School a painting ofhers was exhibited atMetropolitan Museum.

Awards: 2002 Emmy, 2003Golden Globe for leadactress in comedy series.

Has said: "When somebodyfollows you 20 blocks tothe pharmacy to watchyou buy toilet paper,you know your life haschanged."

After "formally separating" withhusband Brad Pitt last month,Aniston has been contemplatingher future in her $15 million LAmansion. Former couple’s fortuneestimated at $200 million,includes a $5.7 million yacht, a

ranch and film company Plan B.Aniston has 8 films in the works aseither producer or actress.

George LeonArgyros

Company: Arnel DevelopmentCompany/Chairman, CEOAge: 68 Marital Status: married, 3

children Employer: US GovernmentPosition: Ambassador to Spain

and Andorra since 2001Fact: Raised $134,000 for the

Bush 2000 campaignFact: At 14 he worked as a box

boy at a grocery storeHas said: "I have been focused

always, from a businessphilosophy standpoint,on cash flow andbuilding for the long-term."

Born in Detroit to Greekimmigrants moved to Pasadena atage 10. First got his real estatelicense in1962 and started out byselling corner lots to gas stations.Today, his firm managesapartments and developscommercial property in southernCalifornia. He used to ownbaseball team Seattle Marinersand has been a big-timecontributor to the GOP ever sinceRichard Nixon. Argyros wasappointed Ambassador to Spainin 2001 by President Bush afterleading GOP fundraising effortsin California in 2000. His mainhome in the USA is a $4.5 millionestate on Harbor Island inNewport Bay, CA.

George Behrakis

Companies, positions: Muro Pharmaceutical Inc./ president and chiefexecutive officer since 1976; Gainesborough Investments/chairmanMarital Status: married, four childrenHometown: North Tewksbury, MAStudies: Northeastern University (1957) Boards: Member of the Northeastern Board of Trustees; Foundingdirector of the Gorbachev Foundation of North America atNortheastern; Member of the Executive Committee of the Board ofTrustees of the GO Archdiocese.

Fact: Secured $1.5 million indonations as co-chairman ofthe Hellenic Cultural Center. Fact: He has renovated historicbuildings in Lowell, MA.

Behrakis is a known asresearcher and marketer ofasthma and allergypharmaceuticals and as thefounder of Doonerlaboratories and MuroPharmaceutical, Inc. Muro is amanufacturer of asthma,allergy and respiratoryproducts. Donated $8 milliontoward construction of theBehrakis Health SciencesCenter, the largest privatedonation in the history ofNortheastern University.

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D. JamesBidzos

Company: Verisign (see StrattonSclavos)

Position: Vice-Chairman of theBoard

Age: 49Fact: Loves fast cars, motorcyclesand planes.Has said: "I'm doing exactly whatI want to do. That, to me, is agood definition of success."

Bidzos is considered the one manthat single-handedly foresaw theInternet boom and subsequentneed for online security. Formercomputer programmer, joinedRSA Security in 1986, an Internetidentity and access managementsolution provider. FoundedVerisign in 1995 as a spin-off toRSA and together with fellowGreek-American A-list executiveS. Sclavos turned it into theworld’s largest seller of Internetsecurity software. Born in Greece;came to the US as a boy. Fatherworked as a barber, mothermanaged a restaurant.

JohnCalamos, Sr.

Company: Calamos AssetManagement/CalamosInvestments

Position: Chairman, CEO andChief InvestmentOfficer

Headquarters: Chicago, IL.Studies: Undergraduate degree inEconomics, M.B.A. in Financefrom the Illinois Institute ofTechnology.Has said: "The key to creatingwealth is to manage risk."

Calamos Investments providesmoney management services tomajor corporations, institutions,pension funds, insurancecompanies and individuals.Calamos first started aninvestment advisory firm in 1977.Now runs fund with nephew Nickand son John Jr. Companyportfolio has stocks mostly intechnology. Served as combatpilot in Vietnam; earned the rankof Major. Teaches graduate levelcourses on finance andinvestments, authors books andspeaks regularly on television andmajor business publications.

Michael D.Capellas

Former Company: MCIPosition: President and CEOHeadquarters: Ashburn, VirginiaAge: 50 years Marital Status: married, twochildrenStudies: B.B.A. degree from KentState University(1976)Memberships: Board of Trusteesof American University inWashington, D.C.Hobbies: Golf and runningFavorite music: Rock and rollHas said: “Failure is never anoption.”

A &6.8 billion deal announcedtwo weeks ago will transfer thebattered communicationscompany MCI to Verizon.Capellas, who helped MCIemerge from bankruptcy afterjoining it in 2002, will make $22million from deal but said he willnot stay with Verizon. PreviouslyCEO of Compaq, which he sold toHewlett-Packard Co. in 2002; dealgarnered him $14 million. Grewup in Warren, Ohio, lived abroadduring childhood. Charitablework has won him among othersthe 2002 Hope Technology Awardfrom the Center for Missing andExploited Children.

ChristosCotsakos

Company: Fox EntertainmentGroup, Inc.Position: DirectorAge: 57Fact: Worked at UniversalStudios as a tour guide.Fact: Decorated VietnamVeteran, saw combat.Fact: Got PhD in economics fromUniversity of London at 54.Has said: Trading is all about whoyou have in the foxhole with youwhen they yell, "incoming."

Resigned from online brokeragefirm E*Trade in 2003 afteraccusations of corporate greedand mismanagement. Returned$21 million of his $80 millioncompensation package thesummer before. Under hisleadership, company crossed $1billion revenue threshold andlaunched itself internationally.Cotsakos and wife Tami made $1million gift in honor of 2002Hellenic College Graduates.Former president of GOYA andthe Sons of Pericles.

John Catsimatidis

Company: The Red Apple GroupAge: 56Position: Chairman & CEOMarital status: married, two childrenFact: Certified jet pilot.Fact: Upcoming online grocer FreshDirect pulled ads claiming 35%cheaper prices from Gristede’s after Catsimatidis threatened to sue.

Company has holdings in oil refining, retail petroleum products,convenience stores, supermarkets, real estate and aviation. Parentscame to US from the island of Nissiros, while he was an infant. Grew upin NYC, where he opened first supermarket in 1968. Today ownsNYC’s largest, high quality 50-supermarket chain after taking overcentury-old Gristede’s name. Bought United Refining Company ofWarren, Pa. with 400 gas stations and convenience stores in New York,Midwest. Many real-estate investments in NY, NJ and FL. Hadholdings in aviation industry; now has leasing interests. Charitiesinclude Alzheimer's, Parkinson's research; Hellenic Scholarship

Foundation;Brooklyn TechAlumniFoundation,the first USfoundationestablished onbehalf of apublic schoolwith $10millionendowment.Wife Margoworks inadvertisingindustry.Publishes theHellenicTimes. MajorDemocraticPartyfundraiser.

William J. Catacosinos

Company: Texas-New Mexico Power EnterprisesPosition: Chairman, President and CEOFact: Father was a grocer.Fact: Served in US Navy 1953-1956.Studies: BS, Masters in Business Administration, Ph.D. in Economicsfrom NYU.

Company transmits and distributes electricity to 250,000 customers inTexas and New Mexico. William Catacosinos led TNP buyout by LaurelHill Capital Partners and became TNP's CEO. Company will beacquired by PNM Resources. Formerly chairman of Long IslandLighting Co, which built controversial Shoreham Nuclear Power Plantin Long Island, which closed in early 1990s.

Peter C.Georgiopoulos

Company: General Maritime Corporation(GENMAR)Position: Founder, Chairman, CEO and director Age: 42Marital Status: SingleHometown: NYCStudies: MBA from Dartmouth College, Tuck

Business SchoolFact: Purchased one of the largest townhouses in

New York's Greenwich Village for $7.7million.

Has said (about his success): "It’s all happened veryfast."

Fact: Was the Hellenic American Chamber ofCommerce’s 2004 "Man of the Year."

Founded GENMAR in 1997 and has turned it intothe second largest owner of mid-size tankers in theworld, with 47 ships transferring crude oil in theCaribbean, South and Central America, the UnitedStates, Western Africa, The Mediterranean and theBlack Sea. Company acquired 5 tankers only in 2004.In 1991 he founded Maritime Equity Management aship-owning and investment company, which he ranuntil 1997. Formerly an investment banker at DrexelBurnham Lambert, he became affiliated withMallory Jones Lynch & Associates an oil tankerbrokerage firm in 91 and picked up shipping secretswhile working for shipowners in New York andPiraeus, Greece.

4 50 WEALTHIEST GREEKS IN AMERICA THE NATIONAL HERALD, FEBRUARY 26, 2005

JamesDemetriades

Company: SeeBeyondTechnology Corp.

Position: CEOStudies: BS in Computer Science,

Economics andMarketing-LoyolaMarymount University,Los Angeles.

Fact: Sailor; with boat "Yassou"has won competitive yachtraces.

Founded SeeBeyond, anintegration-software developmentcompany in 1989. Raised in afamily of scientists; wrote his firstsoftware program at age 9 andbegan scientific work at CalTechUniversity at 11. Before startingSeeBeyond designed softwaresystems for the insurance industry.

PeterKarmanos

Company: CompuwareCorporation

Position: Corporate Chairmanand CEO

Headquarters: Farmington Hills,MI

Marital status: remarried; threesons to deceasedwife Barbara Ann.

Studies: Wayne Universitygraduate.Fact: Avid gardener.Has said: "By the time I was 14, Iknew what I was going to do."

Father owned diner, whereKarmanos ran cash register.Founded Compuware with twopartners and tax return money in1973, now a billion-dollarcompany providing software andIT services to customers aroundthe world, including 90% ofFortune 100 companies. Inmemory of late wife establishedthe Barbara Ann KarmanosCancer Institute on $26 milliongift. Big hockey fan, sponsor ofyouth hockey programs in SEMichigan; involved in threeprofessional teams, includingNational Hockey League CarolinaHurricanes (CEO).

Kartsotis Brothers

Company: Fossil Inc.Who they are: Kosta N. Kartsotis/CEO, age 51;

Tom Kartsotis: President Chairman of the Board, age45.

Headquarters: Richardson, TexasFact: Company owns three manufacturing plants in China and one in

Switzerland.

Tom and Kosta Kartsotis picked up on Swatch's success in the early'80s, and founded company designing sylish but affordable wristwatches. By 1985 their Greek father’s favorite '50s-style watch "theFossil" gave their company its signature name and its retro style.Company now also designs, markets and distributes sunglasses, leathergoods, jewelry and other accessories to over 90 countries around theworld under its own brands and names like Emporio Armani andDKNY. 2004 finished with Fossil Gross profit growing to $121.5million.

Michael Kalogris

Company: Triton PCSHeadquarters: Berwyn, PAPosition: Chairman, CEOHas said: "We have a really loyal following because we treat the

customer right."

Co-founder of company, a leading wireless services carrier in SouthEast. Kalogris made it the first member of the AT&T Wireless ServicesInc. Previously Chairman of Triton Cellular Partners, LP whichacquired and operated rural cellular properties; sold in 2000 for $1.24billion. Also led cellular leaders Horizon Cellular Group andMetrophone. Member of the Public Policy Council and Fraud TaskForce.

Emmanuel Kampouris

Company: Click Commerce Inc.Position: DirectorFormer Position: Chairman, President and CEO of American Standard

Companies Inc.Age: 69Studies: Masters in law Oxford University; degree in CeramicTechnology from North Staffordshire College of Technology inEngland.Has said: "You’re allowed to be smart; get a lot done for your money;

have a real impact on society."

Joined Click Commerce, Inc. a seller of collaborative-extranet softwareand services, after retiring from American Standard in 1999, a globalprovider of bath products, air conditioning and vehicle control systems.

Kampouris first joinedits Plumbing ProductsGreek subsidiary inEurope in 1966; electedCEO in 1989 andChairman of Board ofDirectors in 1993.Currently involved invarious companiesincluding home-productmanufacturer StanleyWorks Corp andHorizon Blue Cross andBlue Shield, a healthcarecoverage provider.Formerly on Board ofU.S. Chamber ofCommerce. Now onBoard of NationalEndowment forDemocracy; ExecutiveCouncil on Diplomacy;Oxford University'sCouncil for School ofManagement Studies.

Demoulasfamily

Company: Demoulas SuperMarkets Inc.

In 1954 brothers George andTelemachus "Mike" Demoulasbought their parents’ grocery tosoon turn it into one of the biggestfamily businesses in the world.Demoulas Super Marketscurrently runs more than 60grocery stores throughout NewEngland and also has real estateinterests. The Demoulas familybecame involved in a 10-yearheated legal battle when in 1990,after George's death, his familyalleged that Mike had defraudedthem of almost their entire shareof the company's stock. They wonin 2000 and kept 51%. Mike hadalready resigned as CEO and diedof heart failure in 2003.

Michael Jaharis

Company: KOS PharmaceuticalsPosition: DirectorMarital Status: married, three childrenHometown: New York CityStudies: Caroll College, BA; Law Degree from

DePaul University.Boards: Trustee of Tufts University and Chairman

of the Board of Overseers of TuftsUniversity School of Medicine; ViceChairman of the Archdiocesan Council.

Fact: The Mary and Michael Jaharis Galleries forByzantine Art at the NY MetropolitanMuseum of Art opened in 2000.

Jaharis, the son of Greek immigrants, co-foundedKOS Pharmaceuticals in 1988 naming it after theGreek island where Hippocrates founded thescience of medicine. KOSP develops prescriptionpharmaceuticals for the treatment of chroniccardiovascular and respiratory diseases. Productsinclude the FDA-approved cholesterol-fightingdrug Niaspan. In 2004 company increased itsrevenues by 68% to $346.4 million. Jaharismatched a $10 million fundraising effort fromTufts Univeristy with a $10 million gift of his ownto establish The Jaharis Family Center forBiomedical and Nutrition Sciences.

GeorgeHatsopoulos

Companies: Pharos LLC,AmericanDistributedGeneration Inc.

Position: CEO Studies: Bachelors degree from

the National TechnicalUniversity of Athens;Masters, PhD. from MIT– all in mechanicalengineering.

Company creates businessventures. Founder and formerchairman, CEO of ThermoElectron Corporation whichmanufactured, sold cogenerationand cooling equipment; retired in1999 and established AmericanDistributed Generation Inc. as aspin-off to TEC. Fellow of theAmerican Academy of Arts andSciences, the American Society ofMechanical Engineers and otherscientific and technicalorganizations. Authoredtextbooks in Thermodynamics andThermionic Energy Conversion.Faculty member and seniorlecturer at MIT; chairs itsDepartment of Civil andEnvironmental EngineeringCommittee.

JohnDikeou and family

Real Estate DevelopmentDenver, CO

Peter Dion

Real EstateLong Island, NY

LouisKatopodis

Company: Fiesta MartPosition: CEO, President

Company runs 50 stores inTexas, -selling ethnic andconventional groceries for itstarget Mexican and Asian-American customers- as wellas 16 Beverage Mart liquorstores. Recently acquired bywholesaler Grocers SupplyCo. the chain's sales areestimated at $1 billion a year.

Ted Leonsis

Companies: AOL founder/ViceChairman; majority owner ofWashington Capitals (NHL);minority shareholder ofWashington Wizards (NBA).Fact: Onetime mayor of Orchid,FL.Has said: "If AOL members don'tlove us and tell their friends andrelatives about us, we won't win."

A pioneer of the internet and newmedia. Leonsis joined AOL in1994, when it acquired RedgateCommunications Corporation, agroundbreaking new mediamarketing company, which he hadfounded and ran as CEO. Knownas AOL’s "champion of themember," Leonsis has workedwith Apple Computer Companyon the introduction of theMacintosh, with IBM on the PClaunch and with Wang on officeautomation. Founder of fourpersonal computer magazines; co-inventor of board game called"Only in New York." Honorsinclude being named one of 200Global Leaders of Tomorrow bythe World Economic Forum andone of the Top 100 MarketingExecutives by Ad Age; andWashington Business Man of theYear by Washington BusinessJournal. Philanthropist, sits onboard of charities andGeorgetown University.

John Leonis

Former position: Retiredchairman of theboard for LittonIndustries.

Age: 71Studies: BS in electricalengineering, University ofArizona, Tucson.

Joined Litton Industries in 1959,became CEO in 1994. Litton is amulti-billion-dollar electronics,defense and information systemscompany. As CEO headed anaerospace/defense company withannual revenues of approximately$3.4 billion and operationsthroughout the U.S. and inGermany, Canada and Italy.

THE NATIONAL HERALD, FEBRUARY 26, 2005 50 WEALTHIEST GREEKS IN AMERICA 5

GeorgeMarcusCompanies: The Marcus &

MillichapCompany/Chairman;Essex Property Trust,Inc. (ESS)/Chairmanof the Board.

Studies: BA (Economics) SanFrancisco StateUniversity (1965);Harvard Business Schoolof Owners/PresidentsManagement Program;Georgetown UniversityLeadership Program.

Awards: 1999 Alumnus of theMillennium award bySan Francisco StateUniversity.

Came to San Francisco fromGreece at age four. Completedundergraduate degree ineconomics in only 2 and 1/2 years;founded University’s firsteconomics club. Founded TheMarcus & Millichap Company, anational commercial real estatebrokerage, investment anddevelopment company. ChairsEssex Property Trust, a New YorkStock Exchange Real EstateInvestment Trust that focuses onapartment properties in the WestCoast, now expanding into thePacific Northwest market. Marcushelped develop the Greek Studiesprogram at San Francisco State,and chairs the Modern GreekStudies Foundation, whichsupports the Nikos KazantzakisChair for Modern Greek Studies.

ConstantineMacricostas Companies: Photronics,

Inc./Chairman of theBoard and CEO;RagingWireTelecommunicationsInc./Founder, CEO.

Age: 69Marital status: married, two sons.Has said: "Listen to yourcustomer; in the end they’ll makeyou better."

Photronics is world’s leadingsupplier of reticles andphotomasks; operates tenmanufacturing facilitiesworldwide. Macricostas alsofounded RagingWire in 2000,which provides large companieswith information technology andinfrastructure solutions; annualrevenues are $350 million. Familyhails from Asia Minor, came toUS from Pireaus, whereMacricostas worked as street milkmerchant at age 7. Today theMacricostas Family Foundationfunds Hellenic Studies universityprograms across the US. Haspledged a $1.1 million gift forestablishment of Hellenic StudiesChair at Western ConnecticutState University.

Company: CEG GroupPosition: OwnerFact: Former Chairman of Sweetheart Holdings, Sweetheart Cup.Age: 64Home: Westchester County, NY.Marital status: married, seven children.Has said: "If you don’t want to be subject to scrutiny and attack,

you shouldn't be in politics."

Sold Sweetheart which made disposable paper, plastic and foodpackaging products. Former Archdiocesan Council, Leadership

100 member; big education patron. Father was in military; familylived overseas. Served stint in the Army. Launched Box USA, acorrugated cardboard manufacturing firm in 1966 and becameinvolved in politics as fundraiser. Named chairman of Westchestercounty Democratic organization in 1989. Bought CreativeExpressions Group, Inc. in 1996, seller of disposable tablewareand foodservice packaging. Ran unsuccessfully for NY lieutenantgovernor with Carl McCall for Democratic Party. Duringcampaign announced he had two out-of-wedlock offspring, whileseparated from his first wife and accused rival Republican Cuomoof orchestrating press leaks. Mehiel was John Kerry’s New YorkState Campaign Chair.

Dennis Mehiel

6 50 WEALTHIEST GREEKS IN AMERICA THE NATIONAL HERALD, FEBRUARY 26, 2005

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Dean C.Metropoulos

Company: Pinnacle FoodsGroupPosition: Chairman and CEO Headquarters: Cherry Hill,

NJ

Metropoulos heads PinnacleFoods Group (formerlyAurora Foods) a firmproducing grocery storestaples such as frozen seafoodMrs. Paul's and the frozenpizza Celeste. Company buyswell-known brands and thenexpands their lines by addingnew products.

Peter M.Nicholas

Company: Boston ScientificIndustry: Health CareAge: 63Marital Status: married, three

children Nickname: PeteStudies: Duke University,

Bachelor of Arts / Science andUniversity of PennsylvaniaWharton School, Master ofScience

Co-founded partner John Abelemedical device firm BostonScientific, manufacturer of a widerange of products for minimallyinvasive surgery, includingcatheters, stents and balloons.Served as Chairman and CEOfrom the Company's founding in1979 until 1999. Under hisleadership, the Company grewfrom 38 employees to a globalcorporation with 14,000employees and sales of more than$2.6 billion just in 2000. In 2003he and his wife Virginia made a$72 million pledge to DukeUniversity, in Durham, N.C., thethird largest charitablecontribution of that yearaccording to the Chronicle ofPhilanthropy. The couple hadpreviously given $58 million to theUniversity’s capital campaign,including $25 million to theNicholas Faculty LeadershipInitiative, as well as additionaldonations to the university'sbusiness and divinity schools,medical center, and college of artsand sciences. $70 million of thatpledge went to support theNicholas School of theEnvironment and Earth Sciences.

GeorgePhydiasMitchell

Company: Mitchell Energyand Development

Position: Chairman & ChiefExecutive

Age: 85 Marital Status: married, 10

childrenHome State: TexasStudies: Texas A&M

University, BA inpetroleumengineering andgeology (1940)

Army Service: United StatesArmy Corps ofEngineers/World War II

Fact: He sold stationery to payhis way through college

His father was a Greekgoatherd, who changed hisname from SavasParaskivoupolis to MikeMitchell after coming to US.Mitchell grew up in theimmigrant neighborhood ofGalveston, Texas in thebuilding that housed hisfather's dry-cleaning shop.Became stockholder at RoxoilDrilling, an enterpriseincorporated and renamed OilDrilling in 1946. Drilled hisfirst well in North Texas,making one of the biggest gasstrikes in industry history.Became company presidentand chief executive officer ofOil Drilling in 1959. After1955, company went into realestate and in 1971 wasrenamed Mitchell Energy andDevelopment Corporation.Was sold to Devon Energy in2002 for $3.5 billion and isnow its largest individualshareholder. Mitchell ownsover 20 hotels and privatebuildings in his hometown. Hehas opposed oil drilling in theAlaska wildlife refuge and hasfunded a $10 million NationalAcademies study onsustainable development andpopulation growth.

JohnPapajohn

Companies: Equity Dynamics,Inc./President;Pappajohn CapitalResources/Presidentand sole owner

Headquarters: Des Moines, IowaAge: 77Marital Status: married, one

daughterStudies: North Iowa Area

Community College;University of Iowa.

Has said: "I think I have a knack,a good nose, for findinggood deals."

Came from Greece at 9 months ofage. After father died worked hisway through college, graduated in6 years. Spent 9 years as insuranceagent before founding his firstcompany. Has established dozensof investment firms, advancingdevelopment biotechnologyinnovations. Equity Dynamics is afinancial consulting entity;Pappajohn Capital Resources aventure capital firm. With wife,Mary has given $25+ million tocharities including the John andMary Pappajohn Clinical CancerCenter. Spent $10+ millionfinancing the John PappajohnEntrepreneurial Centers at fiveIowa universities and colleges,that has launched 1000+ newcompanies.

HarryPappas

Company: Pappas TelecastingCompanies

Position: Chairman, CEOAge: 59Marital status: married, one son.Studies: attended one semester at

University of Nevada,Las Vegas.

Awards-Honors include EllisIsland Medal of Honor; AmericanBroadcast Pioneer Award fromBroadcasters' Foundation.Has said: "Give the audience areason to watch all year long."

Company is largest privately held,commercial TV broadcast groupin US. Operates FOX, WB, ABC,CBS, UPN and Azteca Americaaffiliates serving over 15% of UShouseholds. Parents immigratedfrom Crete; father worked inUtah coal mines, later moved toSan Joaquin Valley, CA whereHarry was born. Elder twinbrothers Pete and Mike startedradio show in Modesto, CA; laterbecame station salesmen andmanagers; started buying stationsin 1960s. Harry led them inopening KMPH TV station in1971, gradually building anempire. Active philanthropist.The Harry J. and Stella A. PappasFoundation for OrthodoxChristianity supports Archdiocesecultural and other activities.

www.thenationalherald.com

50Wealthiest

Greeks in America,

2005Listed by worth

Page 8

THE NATIONAL HERALD, FEBRUARY 26, 2005 50 WEALTHIEST GREEKS IN AMERICA 7

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JohnPayiavlas

Company: AVI Food Systems Position: PresidentHeadquarters: Warren, OhioFact: Member of the GO

Archdiocesan Leadership100, one of founders of theEndowment for Orthodoxy& Hellenism, a new fundthat assists theArchdiocese’s NationalMinistries and institutionsalong with Jaharis, Behrakis,Pappajohn, Spanos andTsakopoulos.

Company is country’s largestindependent, family-ownedcontract food service companyproviding vending, institutional-dining and coffee-servicesoperations. Payiavlas founded it in1960; son Anthony and daughterPatrice became co-presidentsthree years ago. AVI has 50+branch offices in the Midwest andeastern US, with annual salesreaching $1/2 billion and 4,000customers including Philips,FedEx and Ford Motor Company.Has now branched out in theeducation market, serving amongothers The University of Toledoand Wayne State University.

John Rangos

Position: former Chairman of Chambers Development Co.Age: 76Fact: Korean War Veteran, served in combat signal team.Decorations include: National Defense Medal; United Nations Medal;Korean Campaign Medal. Fact: Art collector.Fact: Former Vice-Chairman of the Board for USA Waste Services.Has said: "If I were a young guy starting out right now, I'd do the same

thing I did earlier on."

Ohio-born son of a Greek restaurant owner; raised by mother andgrandfather in Virginia. Started forming own companies in 1960s using

pioneering technology in wastetransportation and disposal andrecycling of sewage and industrialwastes. Founded ChambersDevelopment Corp. in 1971.Company provided wastetreatment services tomunicipalities, businesses andindustries and developedcommercial recycling programsfor various materials. Togetherwith sons developed systemconverting waste-generatedmethane into energy.Spearheaded numerouscharitable efforts including TheJohn G. Rangos Sr. CharitableFoundation and The RangosResearch Center at Children’sHospital of Pittsburgh (on a $3million gift). Founded TheAmerican Hellenic Informationand Communications Grouppromoting Hellenism in youth.Former Fundraising Chairmanfor UNICEF.

JohnPaterakis

Company/Investments: H&SBakery, Inc.; Real-estate.

Position: President

Company bakes buns for the fast-food industry, english muffins,bagels, rolls and more. Companynamed after founders Greekimmigrants Harry Tsakalos andIsidore (Steve) Paterakis, now runby family members. Affiliatesoperate in 11 states withdistribution in 23 states. ThroughH&S, Paterakis has ventured intoreal-estate mainly in Baltimorefunding dozens of big projectsincluding hotels often withpersonal money. H&S operates 13baking plants.

Company: Atmel Corporation Headquarters: San Jose, CA.

Positions: Atmel President, CEOAge: 43Studies: Electrical engineering

degrees from San JoseState University (BS)and Stanford University(MS)

Born in Tripolis, Peloponnese;family came to US while Georgewas 12. In 1984 George foundedcompany ATMEL, whichmanufacturers and markets highperformance memory and logicintegrated circuits, for numerousapplications including consumer,computer/network,telecommunications, aerospaceand military. Company hasmanufacturing facilities in NorthAmerica and Europe.

PeteSampras

Occupation: tennis pro,retired.Age: 34Fact: Has won 64 Career

Titles; 14 GrandSlam Titles (record).

Has said: “I'll always be atennis player,not a celebrity.”

Leaving high-school in1988 to pursueprofessional tennis wasn’tsuch a bad idea for “TheKing of Swing.” Won atleast one grand slam titleevery year from 1993 to2000.

Peter PetersonCompany: The Blackstone GroupPosition: Chairman and

Co-founderAge: 79Marital Status: married, five children.Has said (about the current state of US economy): "We are on anunsustainable path."Studies: BS from Northwestern University (summa cum luade);masters with honors in business administration, University of Chicago.Honorary PHDs from among others: Georgetown, George Washingtonand Northwestern Universities.Facts: - Wife Joan Ganz Cooney is leading executive of Children's

Television Workshop which created "Sesame Street."- During his service in the Nixon administration he was called

the "economic Kissinger."

In 1987 he co-founded Blackstone Group, currently one of the biggestprivate U.S. investment firms with more than 13 million sf of real estate

in Boston, NY, San Franciscoand Washington, D.C.Company’s investment fundsgenerate $70 million-$80 millionper year. Clients and partnershave included XEROX andAT&T. Peterson began career in1948 and by age 27 was directingthe advertising agency ofMcCann-Erickson. Served underPresident Nixon in variouspositions including as Secretaryof Commerce. Founded theConcord Coalition, a bipartisancitizen’s group addressing issuesof fiscal responsibility. Recentlydescribed Bush’s private account-plan as a "no-win shell game."

PerlegosGust(see George Perlegos)Company: Atmel CorporationPosition: Atmel Executive

Vice President,Director

Age: 56Fact: Electrical engineering

degrees from Universityof Santa Clara, (PhD);Stanford University(MS); San Jose StateUniversity (BS).

Perlegos George

StrattonSclavos

Company: VeriSign, Inc. (VRSN)Position: Chairman and CEOHeadquarters: Mountain View,

CAAge: 43 Studies: BS in electrical andcomputer engineering from UC atDavisMarital Status: married, twochildrenFact: - Together with wife Jody

formed the Sclavos FamilyFoundation to supportchildren’s education andmedical research charities.

- Basketball player, is 6 feettall, plays in three leagues.

- Worked in a seafoodrestaurant in high school.

Has said: "The Internet can neverbe fast enough. I am an impatientperson."

Verisign created by ViceChairman Jim Bidzos. Sclavosjoined in 1995. Today Verisign isthe world’s largest seller ofInternet security software,securing billions of onlinetransactions every day. Companyrevenue was $325 million for thethird quarter of 2004. Sclavosgrew up in San Francisco.Graduated from high schoolbefore 17 and from college before21. Has been honored by amongothers by ComputerWorld,Morgan Stanley and Forbesmagazine. Since 2003 Sclavos isone of 30 technology experts onPresident Bush’s NationalSecurity TelecommunicationsAdvisory Committee (NSTAC)advising him on theimplementation of nationalsecurity and emergencypreparedness policy for thecommunications industry.

8 50 WEALTHIEST GREEKS IN AMERICA THE NATIONAL HERALD, FEBRUARY 26, 2005

Alexander G. Spanos

Company: A.G. Spanos CompaniesPosition: Founder and ChairmanAge: 82 Marital Status: Married, 4 children Hometown: Stockton, CA Studies: Pacific Lutheran University, BAOwner: San Diego Chargers since 1984Fact: Built largest top-class office space in California's San Joaquin

County with helipad for his personal useFact: Danced and sang as a performer with close friend Bob Hope in

US and abroadHas said: "I always believed in the pursuit of one's dreams."

Alex Spanos worked seven days a week in his father's bakery as a child,waking up at dawn to prepare pastries before going to school. Struck

out on his own at age 27when he borrowed $800 topurchase a truck and began acatering business. He laterwent into real estate and in1960 he formed the A.G.Spanos ConstructionCompany. Today, A.G.Spanos Companies builds,manages and sells multi-family housing units anddevelops land. Spanoshanded over Seattle Chargerspresidency to sons Dean andMichael in 1994. Through theAlex G. Spanos San DiegoFoundation (now theChargers CommunityFoundation) has contributedmillions to San Diegocharities and organizations.Spanos was also the largestindividual contributor toPresident Bush’s recentinauguration ($250,000).

AngeloTsakopoulos

Company: AKT DevelopmentCorporationPosition: Chairman, ChiefOperating OfficerBase: Sacramento, CAMarital Status: married, sixchildrenHellenic Chairs funded:University of California atBerkeley and at Davis; DartmouthCollege; San Francisco StateUniversity (Nikos KazantzakisChair for Modern Greek Studies).Facts:- Created S.B. Vryonis

Center in CA for theStudy of Hellenism.

- Donated the largestcollection of Hellenic textin the world to CaliforniaState University atSacramento.

First came to US from Greece 40years ago, at 24. Currently thelargest owner and developer ofland in Northern CA, developingmore than 25,000 acres in theSacramento metropolitan areaand now expanding into the officemarket. Long-time philanthropistand benefactor for health, thearts, education. Daughter ElenaTsakopoulos-Kounalakisestablished Hellenic Studies atGeorgetown University in 2003;son Kyriakos donated $1 millionto Columbia University forHellenic Studies Chair in 2004.The Tsakopoulos family alsooffered 1,100 acres of land forconstruction of private universityin California. Career patron offormer Democratic gubernatorialcandidate Paul Vallas, IL.

P. Roy Vagelos

Companies: Merck & Co., Inc/Former Chairman of the Board andCEO; Regeneron Pharmaceuticals, Inc./ Chairman of theBoard. Director of: Prudential Insurance Company ofAmerica; PepsiCo, Inc.; The Estee Lauder Companies.

Marital Status: married, four children.Studies: BA University of Pennsylvania; Columbia University Medical

School.Memberships: National Academy of Sciences; American Academy of

Arts and Sciences; American Philosophical SocietyFacts:- Authored more than 100 scientific papers

- Memoir "Medicine, Science, and Merck" published byCambridge University Press in 2004.

Has said: "Fifty years from now, people will remark on how primitivepatient care was in 2004."

Born in Westfield, N.J. Vagelos led pharmaceutical mogul Merck &Co. into its most successful years. During his tenure, which ended in1994, company was named "America’s most admired corporation" in

seven consecutive annualsurveys of Fortunemagazine, while Vageloswas dubbed "King of theMedical MoleculeMakers." Under Vagelos,Merck developed amongothers the cholesterol-lowering agents Mevacorand Zocor. He waspreviously chairman ofthe Department ofBiological Chemistry atWashington University’sSchool of Medicine in St.Louis. Has receivedhonorary Degrees fromamong others,Washington, Brown,Columbia and PrincetonUniversities and Chairsthe Board of Trustees ofthe University ofPennsylvania since 1994.

Rita Wilson

Occupation: Actor, producer,executive producer.

Age: 47Birth Name: Margarita

IbrahimoffMarital Status: married to movie-

star Tom Hanks,two children.

Fact: Half-Greek from mother,half-Bulgarian from father.

Nia Vardalos’ latest two flops("Connie and Carla" and TV’s"My Big Fat Greek Life") have notdone much to improve RitaWilson’s executive producerstatus or fortune. But "My Big FatGreek Wedding"’s $240+ millionat US box-office alone and her 17-year marriage to multi-millionaireTom Hanks will keep Wilson onthis list for years to come.Upcoming acting project theindependent drama "TheChumscrubber."

Konstantinos Stengos

Company: The Technical Olympic Group and Technical Olympic USAPosition: Chairman, Managing DirectorStudies: Graduate of the National Technical University of Athens.

Stengos established TOGroupsin 1965. Made it one of thelargest corporate groups inGreece in construction,homebuilding, tourist services;today, activities in UK,Balkans. US company is mainlyactive in homebuilding andfinancial services in Florida,Texas, the West, and the Mid-Atlantic. TOUSA acquired80% of Newmark Homes and100% of Engle Homes in 2002.

John Veronis

Company: Veronis SuhlerStevenson Partners

Position: Managing Partner,Chairman and Co-CEO

Studies: BA Lafayette College;NYU Graduate Schoolof Business.

Fact: Director of theMetropolitan Opera andtrustee of Carnegie Hall.

Veronis’ involvement in Mediaand publishing spans over fourdecades covering magazines like"Psychology Today," books, radio-TV broadcasting and educationalfilms. "Book Digest" magazinegrew to one million-circulationunder his direction. Teamed upwith media veteran John Suhler,former head of CBS Publishing, toestablish VSSP in 1981. Company is a NY financialservices firm in media, publishingand communications.

William S.Stavropoulos

Company: Dow ChemicalCompany

Position: Chairman of the Boardof Directors

Headquarters: Midland, MIStudies: BS Fordham University;

PhD in medicinalchemistry University ofWashington.

Has said: "My father was my firstmanagement guru."

Raised in Brooklyn, NY; Greekimmigrant father owned coffeeand confectionery store. Startedat DOW in pharmaceuticalresearch in 1967; CEO from 1995-2004 when Greek AustralianAndrew Liveris took over.Company is #2 worldwide inproduction of plastics andchemicals. DOW is currentlyinvolved in legal battle over 1984tragedy of Bhopal, India, when 27tons of lethal gases leaked from aUnion Carbide Corp. pesticidefactory killing and poisoningthousands. DOW, who boughtUCC in 2001, denies involvement.Stavropoulos serves on board ofAmerican Enterprise Institute forPublic Policy Research. Awardsinclude 2000 Man of the Year bythe Hellenic American Chamberof Commerce; 1998 Ellis IslandMedal of Honor.

NAME WORTH COMPANY

1. Peter M. Nicholas 4 Bil. Boston Scientific 2. George Phydias Mitchell 1.6 Bil. GPM Imc. 3. George Leon Argyros 1 Bil. Arnel Development Company4. Alexander Gus Spanos 860 Mil. A. G. Spanos Companies5. Theodore J. Leonsis 800 Mil. Time Warner, Washington Capitals, Washington Wizards6. John A. Catsimatidis 800 Mil. Red Apple Group7. Michael Jaharis 780 Mil. Kos Pharmaceuticals8. Peter G. Peterson 700 Mil. The Blackstone Group9. Demoulas family 650 Mil. DeMoulas Super Markets10. Steve Valiotis 525 Mil. Alma Realty11. George D. Behrakis 500 Mil. Gainesborough Investments, Mithos Inc.12. Kosta/Thomas Kartsotis 500 Mil. Fossil Inc. 13. George M. Marcus 400 Mil. Essex Property Trust Inc. 14. P. Roy Vagelos 400 Mil. Regeneron Pharmaceuticals Inc.15. George Andreas 400 Mil. Investments, Real Estate, art16. Tsakopoulos Angelo 390 Mil. AKT Development17. Stratton Sclavos 380 Mil. VeriSign18. Louis Katopodis 350 Mil. Fiesta Mart19. John P. Calamos, Sr. 350 Mil. Calamos Asset Management20. John Payiavlas 310 Mil. AVI Foods21. D. James Bidzos 300 Mil. VeriSign22. Peter G. Angelos 300 Mil. Baltimore Orioles, Attorney23. William S. Stavropoulos 270 Mil. DOW Chemical24. Peter Dion 260 Mil. Yarmouth-Dion, Real Estate25. Constantine A. Stengos 250 Mil. Engle Homes, Inc. Technical Olympic USA, Inc

Technical Olympics SA26. John Veronis 250 Mil. Veronis Suhler Stevenson Partners LLC27. John Rangos, Sr. 250 Mil. fmr. Chambers Development Corp.28. James T. Demetriades 240 Mil. SeeBeyond Technology Co., Software Technologies29. Pete Karmanos Jr. 210 Mil. Compuware30. George Perlegos 200 Mil. ATMEL31. Dennis Mehiel 200 Mil. Sweetheart Holdings, Sweetheart Cup, CEG Group, Fonda32. Metropoulos C. Dean 200 Mil. Metropoulos $ Co33. Constantine Macricostas 190 Mil. Photronics, Inc.34. Georgiopoulos Peter 180 Mil. General Maritime35. Rita Wilson 165 Mil. Actor, producer36. Michael Kalogris 160 Mil. Triton PCS Holdings, Inc37. Emmanuel Kampouris 150 Mil. American Standard38. John Papajohn 150 Mil. Papajohn Capital Resources, Equity Dynamics39. Gust Perlegos 110 Mil. Atmel Corp.40. Jennifer Aniston 100 Mil. Actor, producer41. Harry J. Pappas 100 Mil. Pappas Telecasting Companies 42. John Leonis 100 Mil. Litton Industries43. William J. Catacosinos 100 Mil. TNP Enterprises, Inc.44. George Hatsopoulos 100 Mil. Pharos LLC45. Pete Sampras 100 Mil. Tennis pro46. Michael D. Capellas 90 Mil. Former MCI Worldcom47. Chris J/Harry Pappas 80 Mil. Pappas Restaurants48. Christos M. Cotsakos 80 Mil. E Trade Group49. John Paterakis 80 Mil. H$S Bakery; Real-Estate50. John Dikeou and Family 70 Mil. Real Estate Development

50 Wealthiest Greeks in America, 2005

Efstathios Valiotis

Company: Alma Realty Co.Headquarters: Astoria, QueensAge: 54Marital Status: married, three children.Fact: All children attended Saint Demetrios High School in Astoria.Fact: Studied Theology in Athens.Has said: "Real-estate is like waves in the sea and I’m a good swimmer."

Born in the village of Vordonia in Sparta. Graduated from theUniversity of Athens and came to US at 26. After a short time in foodand furniture business, went into real-estate in 1978. Has focused ondevelopment, now building and renovating all over Tri-State area,primarily Brooklyn and New Jersey. Big benefactor of Greek Americancauses, GO Church. Has donated half a million to Holy Crosscommunity of Whitestone where he lives, for parochial school facility.

THE NATIONAL HERALD, FEBRUARY 26, 2005 50 WEALTHIEST GREEKS IN AMERICA 9

By Christopher Rhoadsand Joann S. Lublin

THE WALL STREET JOURNAL

He made more than $14 millionselling Compaq to Hewlett-PackardCo., and could earn $22 million onthe MCI-Verizon deal. What's nextfor MCI Inc. Chief ExecutiveMichael Capellas ?

Mr. Capellas , as CEO of Com-paq Computer Corp., sold thatcompany to H-P in 2002. With alate-night vote by MCI's board Sun-day, he has now steered MCI intothe hands of Verizon Communi-cations Inc. in a $6.8 billion deal.The 50-year-old Mr. Capellas hastold fellow MCI directors that hewill not stay with Verizon, says Den-nis Beresford, an MCI director.That has led to speculation aboutwhat's next for an executive cred-ited with cleaning up a companysunk by scandal and bankruptcy. Hetold an acquaintance six weeks agothat he would like to become aCEO again after leaving MCI, aperson familiar with the discussionsaid.

"Failure is never an option," Mr.Capellas said in a phone interviewMonday. Still, "no one could've pre-dicted this," he added, referring toMCI's improved position and sale."It came out of the will of people inthe Most competitive environmentI have ever seen."

MCI, which was acquired byWorldCom Inc. in 1998, emergedfrom bankruptcy last spring afterMr. Capellas quieted feuding cred-itors, with the old MCI name and amuch shrunken balance sheet. Mr.Capellas declined to comment onwhat he might do next. One possi-bility is taking over H-P, given hiscomputer background and the newopening at the top of the printerand computer company followingthe ouster last week of its CEO andchairman, Carleton Fiorina. Butsome suggested that is less likelysince H-P may want to find a re-placement before Mr. Capellaswraps up his duties at MCI. BobSherbin, an H-P spokesman, saysthe line-up of possible CEO candi-dates "is not a subject we're going tobe commenting on for the foresee-able future."

"He's a smart, talented, person-able guy who I am sure will land onhis feet," says Bruce Berkowitz,portfolio manager at FairholmeCapital Management LLC, a firmbased in Short Hills, N.J. with 9.2million shares of MCI stock.

Whatever Mr. Capellas doesnext, he's no stranger to tough as-signments and pushes himself hardto achieve them. Blind in one eyesince age five, he lost close to 50pounds after he took up marathonrunning in 2000. He found runninga useful way to cope with stress, for-mer associates say.

He beat out numerous externalcandidates to become chief exec-utive of Compaq in 1999. The boardhad pushed out prior CEO EckhardPfeiffer over the Houston compa-ny's problems. "He takes stress withmore equanimity than most peopleI know, and he's certainly had a lotof stress at the companies he hasbeen involved with," says BenjaminM. Rosen, Compaq's former chair-man. "Somebody is going to takehim."

Mr. Capellas joined Compaq inAugust 1998 as senior vice presi-dent in charge of its internal com-puter operations. He previouslyheld management positions atSchlumberger Ltd., SAP AG's U.S.unit and Oracle Corp., among oth-ers. In the end, the Compaq boardwas impressed enough with Mr.Capellas during their search for anew CEO that they gave him thejob. At the time of the July 1999 an-nouncement, Mr. Capellas hadworked at Compaq for only 11months and had become its actingchief operating officer.

Though he is demanding of hisemployees, Mr. Capellas also isadept at diffusing tense situations,such as earnings conference callswith Wall Street. He would boundinto the Compaq conference roomwhere his Lieutenants had assem-bled and announce, "Loosen up,guys," then play rock 'n roll musicon a nearby boombox, according toJeffrey Clarke, a former Compaq fi-nance chief and ex-H-P executive.(Mr. Clarke now is chief operatingofficer at Computer Associates In-ternational Inc.)

Mr. Capellas didn't run Compaqlong enough to satisfy some criticsthat he had fixed it or was a good

leader. A few of his top manage-ment hires didn't work out. Aftercutting costs, he agreed to sell Com-paq to H-P.

He had his hands full selling thedeal to skeptical shareholders. In-vestors sold down the stock of bothcompanies on the day the mergerwas announced in September 2001.He briefly served as H-P president.Taking the helm at the formerWorldCom, however, was a riskiercareer move. He had to cope withjudges, a court-appointed monitor,a creditors' committee, a feudingboard, 60,000 jittery employees,millions of worried customers andthousands of outraged investors.He also was a stranger to the reg-ulatory quagmire of the phone in-dustry.

Before WorldCom's news con-ference to introduce Mr. Capellasas its new CEO, an acquaintancesays, he was still struggling overwhether to go there rather than Mi-crosoft Corp. At MCI, Mr. Capellaslearned a new industry quickly. Hebrought the company out of an al-

most hopeless situation. "We havegone through two-and-a-half yearsof hell," says Mr. Beresford, theMCI director.

Mr. Beresford attributed Mr.Capellas's success to his extensiveinvolvement in nitty-gritty oper-ational issues and stamina to worklong hours. MCI board meetingsbegin at 8 a.m. -following a late din-ner the night before- but Mr. Capel-las always arrived at the office longbefore the directors do.

Given the hand he was dealt atMCI, Mr. Capellas did well, al-though not across the board, saysLisa Pierce, an analyst with For-rester Research, based in Cam-bridge, Mass. Some problems thatexisted when MCI fell intobankruptcy haven't been addressed,such as assimilating the 60 smallcarriers and networks that the oldWorldCom acquired during itsspending binge in the late-1990s."There's a lot of integration thathasn't been done that needed to getdone," says Ms. Pierce. "Now, Ver-izon gets that opportunity."

Just as was the case at Compaq,some feel Mr. Capellas wasn't atMCI long enough to prove he couldturn it into a strong and growingcompany. Raul Katz, chief exec-utive officer and president of Ad-ventis, a telecom consulting firm inBoston, says: "He stabilized thecompany, but it's one thing turningsomething around and anothersetting it on a growth track."

Mr. Capellas suffered somesetbacks. Last March, the executivehe recruited to be president andchief operating officer resigned af-ter just seven months. Richard R.Roscitt, a respected telecom veter-an, quit after the company effec-tively eliminated his role byrevamping top management. Run-ning MCI also challenged Mr.Capellas in other ways. He had toshare power with Richard C. Bree-den, the court-appointed monitor.Mr. Breeden, head of a Greenwich,Conn., financial-restructuring firmand a former Securities andExchange Commission chairman,influences decision-making in

many areas and still serves as an un-official board member. MCI boardmembers signed off on Mr. Capel-las's hefty pay package, which theyfelt was necessary to lure someonelike him to such a risky situation.But Mr. Breeden balked, forcingMr. Capellas to work without payfor two weeks. Mr. Breeden ulti-mately knocked $6 million off a re-stricted-stock grant promised Mr.Capellas for guiding MCI out ofbankruptcy.

Despite the tense circumstances,the strong-willed pair forged a col-laborative bond. In a lightheartedrecognition of his overseer's power,Mr. Capellas once lent Mr. Breedena king's costume he had purchasedfor a

Halloween office party at hishome. Mr. Capellas donned a Mer-lin the magician outfit. "I dubbedhim with my magic wand as SirRichard the Lionhearted," Mr.Capellas previously has said.

* Shawn Young contributed tothis article.

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CEO Weighs Move After MCI

By Jeff BarkerTHE BALTIMORE SUN

WASHINGTON - The cancel-lation of the NHL season was anaction that Washington Capitalsmajority owner Ted Leonsis hadlong planned for, while hoping itwould never happen.

Yesterday, when a salary capdispute indeed ended the seasonbefore it began, Leonsis reactedwith a combination of frustrationand relief.

The frustration is probably eas-ier for the team's fans to under-stand. Like many of them, Leonsissaid he was left with "an emptyfeeling" by the failure of the leagueand its players union to reach adeal that could have put the Cap-itals back on the MCI Center ice.

But Leonsis has a concern thatfans need not worry about: thebottom line. And so even as helamented the loss of the season,the Internet mogul said he wasconsoled that the owners and

players hadn't reached a deal thatwould cause the Capitals to lose somuch money that they couldn'tcompete. "It might be a dark day,but it was a necessary day," a reso-lute Leonsis said at the club'sdowntown headquarters a fewblocks from MCI Center.

Given that the Capitals don'tattract the revenue of larger-mar-ket franchises, Leonsis said the lat-est salary cap proposals of theplayers and owners - $49 millionand $42.5 million, respectively -would have been too much for theCapitals to bear.

"At $42 million, we would lose alot of money. That was not appro-priate for our market," Leonsissaid. In the past year, the Capitalshave cast off high-priced talentand signed young players to accu-mulate enough cash to prepare forany eventuality - be it a problemat-ic salary cap or a season-endingbattle with the players union.

Leonsis said the team lost $20million last season and $35 million

in 2001-02 - the first season aftertrading for now-departed super-star Jaromir Jagr. "We made somevery painful decisions to getyounger," Leonsis said. "The ironyis that we're in the best financialposition we've been in" in his fiveseasons as majority owner.

But he knows he has some workto do to rebuild the relationshipwith fans. Fans said they were dis-turbed that progress made in ne-gotiations came so late. It was as iftheir team trailed badly, thenmounted a furious comeback thatfell tantalizingly short.

"I am disappointed that theNHL and players could not cometo an agreement, especially afterthe progress that was made overthe last couple of days," said Con-nie Schneider, president of a Cap-itals fan club. "Yes, I think hockeywill survive, and, yes, I am still afan."

Other fans' moods were darker."Nothing can really prepare onefor the swift kick in the solar

plexus of seeing the stark words ona banner on the NHL Web site:'NHL Cancels 2004-05 Season,' " afan wrote on a Capitals Internetmessage board.

Vic Ignacio, a suburban Vir-ginia printing company executive,said as the announcement cancel-ing the season loomed, "I now feelboth sides are equally guilty ofcanceling not only this season, butpossibly the NHL itself."

The lockout has led to 130season-ticket cancellations, theCapitals said. There are about8,000 to 9,000 season-ticket hold-ers. Leonsis said he plans "townmeetings, one-on-ones, dinners" totry to lure fans back. The Capitalshave tried to sustain fan interest.This month, the club has beenholding an essay contest for stu-dents in grades 7 to 12. It coincideswith the league designating Febru-ary as "Hockey is for EveryoneMonth."

Everyone, it seems, but NHLplayers.

Regret mixes with resolve for owner of Capitals

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10 50 WEALTHIEST GREEKS IN AMERICA THE NATIONAL HERALD, FEBRUARY 26, 2005

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S I N C E 1 9 1 5The National Herald

THE NATIONAL HERALD, FEBRUARY 26, 2005 50 WEALTHIEST GREEKS IN AMERICA 11

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ALMA REALTY, Co.ALMA REALTY, Co.28-18 31st Street, Astoria, NY 11102

Tel.: (718) 267-0300(718) 267-0300 Fax: (718) 267-0329(718) 267-0329

Residential & CommercialResidential & CommercialPropertiesProperties

Professional Management and SalesProfessional Management and Sales

By Zoe TsineSpecial to The National Herald

If you were to ask real-estate A-lister Efstathios Valiotis what distin-guishes real-estate from other busi-ness endeavors, he would tell you it’sall in the word. "The real-estatebusiness is ‘real:’ it doesn’t go away.Real-estate is a more secure in-dustry," Mr. Valiotis told TheNational Herald in a rarely grantedinterview last week, at his Astoria,Queens office.

Despite having picked this mostrealistic and steady field, Mr. Valio-tis, a thoughtful and quiet 58-year-old, remains influenced by his spiri-tual predisposition. A graduate ofthe School of Theology at theUniversity of Athens, Mr. Valiotishas given his company Alma RealtyCorp., a rather "unreal" name. Almais the Spanish word for soul.

"I wanted to find out what man ismade of," he said calmly, reflectingon his early years as an aspiringpriest. "I still wonder. The same per-son that offers you a hand of as-sistance one day, turns against youthe next," he added.

It is perhaps that fear of the un-predictable that made Mr. Valiotisgo on his own very soon, both in lifeand in business. Born and raised inthe village of Vordonia near Sparta,in the Peloponnese, Valiotis - one ofsix children - saw three of his broth-ers immigrate to Australia early on.After graduating from the Univer-sity of Athens and completing hismilitary service in Greece, he fol-lowed their example; only, he head-ed towards the other side of theworld. He settled in Astoria in 1972at age 26 in search for "a better to-morrow. Greece is too small forGreeks," he said. "I came on Oc-tober 21st and started work the fol-lowing day," he recalled.

"Work" was his brother-in-law’sgyro-place in Astoria, where Mr.Valiotis washed dishes and moppedfloors. "I worked for 26 months non-stop. No day-offs. I didn’t havemuch of a choice."

Mr. Valiotis’ long-overdue day-off was also his first day of indepen-dence and the beginning of a profes-sional life full of choices. With hissavings he bought and ran a smallnewspaper shop for two years. Fi-nally, after a few years in the restau-

rant and furniture businesses, he en-tered the real-estate business in1978. It wasn’t too long before hefound his niche in the field. His firstoffice was located on 538 6thAvenue in Manhattan, where a littlebit later, in 1983, he also bought hisfirst big building and converted it in-to a cooperative of 284 apartments.From then on it was more and moreacquisitions and conversions. To-day, Mr. Valiotis focuses on devel-opment, building and renovatingproperty throughout the Tri-Statearea. The Greek American also hasa full service management office,which includes his personal portfo-lio as well as that of other investors.

"I have made more than 450deals in my career and only lostmoney a couple of times," Mr. Vali-

otis said. "Real-estate is like waves inthe sea. If you know how to swimyou stay afloat, if you don’t, youdrown. I was a good swimmer," hecontinued in a philosophical mood."I’ve always had good judgment andmade very few mistakes in real es-tate. If you lose once or twice, it’snot such a big deal!"

These days, while working on 20projects, Mr. Valiotis said he useshis experience to profit from a de-pressed market. "Usually it’s when

things are going down that youmake the most money, becausemore people are willing to sell. In re-al-estate, you make money in buyingnot in selling," he said. "In Americain the past 100 years, there havebeen ups and downs in this businessbut no terrible losses. You are deal-ing with American laws and whenyou’re done developing a property,there are willing commercial andresidential tenants. It is an industrythat is not subject to direct foreigncompetition; real estate cannot bedisplaced with cheaply-producedChinese products."

Alma Realty Corp. is cur-rently developing among others anew 10 building- 750 apartment-complex in Prospect Heights,Brooklyn "a better market than

Astoria;" a 100 thousand square footbuilding on Queens Boulevard; andapproximately one million squarefoot "horio" (=village) in Patterson,NJ with two thousand parkingspaces and one million square feetof shops and residences, a collabo-ration with fellow Greek Americanengineer Nick Tsapatsaris.

But perhaps Mr. Valiotis’ mostimportant projects are his contri-butions to the community, which hesaid serve a cause close to his heart.

"Hellenism must stay in America,"he said. "God gave us the money andwe must support good causes." Afew years ago, Mr. Valiotis donatedhalf a million dollars to the HolyCross community of Whitestone,where he lives. The community’snew parochial school facility willcarry his name. He has also madecontributions to the St. DemetriosChurch in Astoria where he hasbeen a parish member for 30 years.This summer, his son George, theyoungest of his three children, willgraduate from St. Demetrios HighSchool. His eldest daughter Sophiais an attorney and his youngerdaughter Katerina is a freshman atBoston University.

Mr. Valiotis revealed to the Her-ald that he is planning to erect a newhome for senior citizens, a 120-roomfacility for primarily disadvantagedGreek American senior citizens. "Iwant to call it Philoxenia House," hesaid.

His biggest interest however is ineducation and a future dream, is toestablish a Greek University "similarto the Jewish institutions like Bran-deis University and Yeshiva Univer-sity. That would require a lot offunds to build and to keep it going,"he said. "It’s not the work of one per-son. I have discussed it with a lot ofacademics and have gotten positiveresponse. I hope that in the next twoyears it can be done." Mr. Valiotishas already pledged a considerabledonation to the establishment of theT.E.I. Spartis, an institution of high-er learning in his Greek hometown,which he hopes will revive andrestore Sparta to its former glory.

Mr. Valiotis confessed that hisplans spring from a concern for whathe called a discouraging landscapein the Greek American educationand Orthodox Church. "Our chil-dren learn Greek with great diffi-culty and our Church is not pushingfor the preservation of the Greeklanguage in America. We must up-grade the role of our priests andteachers. The community is guidedby the Patriarchate, which wants anOrthodox Church. We (GreekAmericans) want a Greek OrthodoxChurch. But as long as the GreekOrthodox Church of America de-pends on the Patriarchate, I doubtwe’ll see better days."

He continued: "All Greek fami-

lies emphasize the importance ofeducation and encourage theirchildren to become doctors,lawyers or other professionals. Noone encourages their child to enterpriesthood anymore, it is seen assecond-best. The Greek Ameri-can community must be more pro-active, put their hands deeper intheir pockets and participate intheir Church communities to en-able us to see progress and pre-serve our heritage."

Despite his concerns and dedi-cation to community causes howev-er, Mr. Valiotis says most of thetime, he thinks like an American. "Iwas never a pessimist and I am notafraid of anybody," he explained.But his American habits don’t in-clude expensive tastes. "Peopledon’t change," he said soundingmore like a Spartan than the owner

of all those buildings on his officewalls. "I don’t intend to retire. Aslong as I live, I’ll be working."

Outside the window, on par withhis second-floor office, an elevatedtrain passes us. Despite its discor-dant sound, Mr. Valiotis doesn’traise the tone of his voice: he donshimself with the composure of aman who holds the secret of goodliving.

"Find your talent, the one thingyou love, and take action. Americais even better than it used to be," hesaid asked to sum up his success the-ory. "But be cautious, no acrobatics.In real-estate it’s easy to win andeasy to lose. You don’t get richovernight. It’s like school; you learnto do business through time. I tellyoung people to go into real-estate.It’s the only business that keeps yourfeet firmly on the ground."

Valiotis: In Real-Estate it’s Easy to Win and Easy to Lose

"Real-estate A-lister Efstathios Valiotis at his office in Astoria,Queens. 58-year-old Valiotis, who first came to the US at age 26, wentinto rel-estate in 1978 and has become a force in the business, mainlythrough aquisitions and conversions."

"Greece is too small for Greeks," says real-estate developer Efstathios"Steve" Valiotis, seen here at his Astoria, Queens office. Mr. Valiotismade The National Herald's Wealthiest list at No 10.

12 50 WEALTHIEST GREEKS IN AMERICA THE NATIONAL HERALD, FEBRUARY 26, 2005

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