Herewith, we would like to inform all investors that the Extraordinary General Meeting of the shareholders of the company was convened today, August 29, 2005.

The meeting was attended by shareholders representing the 73,75% of all shares and votes. That is, 11.203.090 shares and votes out of a total of 15.190.320. The General Meeting approved by 11.203.090 votes, which constitute 100% of the shares and votes at the General Meeting, out of a total of 15.190.320 shares and votes, the issuance of a five (5) year bond of one million euro (1.000.000 euro) according to the provisions of Law 3156/2003 through OMEGA BANK S.A. The interest rate as well as any other terms of the bond will be mentioned in the relative bond contract.

The purpose of the bond is to finance the acquisition of new yachts in the context of the continuous renewal/modernization of the company’s fleet so as to maintain its competitiveness. The bond will be used within the first six months of 2006.

Athens, August 30th, 2005