ANNOUNCEMENT

The listed company on Athens Exchange, “Kiriacoulis Mediterranean Cruises Shipping S.A.” announces that its 75,91% subsidiary company “Mediterranean Villages S.A.”, according to the Regulation for the issuance of production licenses, has submitted to the Regulatory Authority for Energy (RAE) applications for obtaining 2 electric power production licenses for two Photovoltaic Parks (P/V) with wattage capacity of 1,232 MWp and 338 KWp each. The sites for the establishment of the Photovoltaic Parks are located at Aghia Paraskevi and Xeregkiza respectively in Meligala Municipality at Messinia Prefecture.

Athens, 4 December 2007