* Net 2008 profit drops 29 pct to 65 mln euros

* Revenue down 33 pct at 108 mln euros ($138 mln)

* To propose 0.35 euros/share dividend (2007 was 0.75 euros)

* To propose capital return of 0.25 euros/share

ATHENS, Feb 23 (Reuters) - Net profit at Hellenic Exchanges (EXCr.AT), the operator of the Athens stock and futures markets, fell 29 percent in 2008 to 65 million euros ($84 million) on lower bourse trading volumes, the company said on Monday.

Revenue fell 33 percent to 108.4 million euros mainly due to a 36 percent drop in clearing and settlement of transactions to 38 million euros, as well as a drop in revenue from trading in the cash market.

The operating profit (EBIT) of the group was 80.6 million euros in 2008 compared to 116.9 million euros in 2007, reduced by 31 percent, the company said in a statement.

The operator also reported a 67 percent drop in revenue from listed companies to 10.1 million euros from 30.4 million euros a year earlier.

Hellenic Exchanges said income from the derivatives market increased 10 percent on a yearly basis, to 11 milion euros.

Its board will propose a dividend per share of 0.35 euros and a capital return of 0.25 euros a share. It paid a dividend of 0.75 euros a share for 2007. ($1=.7738 euros) (Reporting by Renee Maltezou; Editing by Greg Mahlich)