Announcement of
“KIRIACOULIS” CONCERNING AN ARTICLE ON EURO2DAY ON 26 JUNE 2007

The article by Stefanos Kotzamanis on EURO2DAYon 26 June 2007, refers to the expansion of the Groups’ operations and in particular: the participation in a tender offer for the lease of Neo Faliro marina, the expansion of the Group in photovoltaic energy business and a potential strategic cooperation with Tui Group.

The Group’s management accepts all the above-mentioned in the article as they consist parts of the Group’s strategic plan for the future.

Indeed the listed Company participated in the 1st phase of a tender for the lease of Neo Faliro marina and has now proceeded to the 2nd phase, without this affecting the financial figures of the Company or the Group.

The subsidiary MEDITERRANEAN VILLAGES S.A. in accordance with the Group’s expansion plans has recently amended its business object so as to be capable of expanding its operations in the alternative energy business, when this will be considered in the best interest of the Group.

The listed Company has been cooperating with Tui Hellas S.A. since 2004 by participating (50% interest each ) in a pleasure yachts maritime company – CATPRO PYMC which operates two catamarans which offer daily cruises in Rhodes and Corfu.

The Group’s management will announce to the investing public on time any investment decision which will affect the financial figures of the Company or those of the Group.

Athens, 26 June 2006