A/ The company “KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A.” announces to all investors that on January 27, 2005 jointly with “PROTON SECURITIES & INVESTMENT SERVICES S.A.” proceeded to the termination of the market making contract signed by both on April 4, 2003. It is noted that “PROTON SECURITIES & INVESTMENT SERVICES S.A.”, pursuant to article 22A of Law 1806/1988, notified on January 31, 2005 by letter to the Athens Exchange the termination of the contract the results of which will take effect after three months, that is from May 1, 2005 onwards.

B/ Mrs Areti Kiriacoulis, one of the main shareholders of “KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A.”, announces to all investors that the contract she signed on April 4, 2003 with “PROTON SECURITIES & INVESTMENT SERVICES S.A.” to facilitate the market making process was terminated on January 27, 2005.

Athens, January 31st, 2005