Kiriacoulis Mediterranean Cruises Shipping S.A. has posted a significant increase in its financial figures for the full year 2003 as compared to 2002, despite the adverse conditions in the tourism industry internationally.

More precisely, profit before taxes increased by 5,78% amounting to € 2.195.363,71 from € 2.075.345,20, whereas turnover grew by 25,82% reaching € 10.379.350,53 from € 8.249.039,38 in 2002. The Board of Directors of Kiriacoulis Mediterranean Cruises Shipping S.A. will propose to the company’s General Meeting of the shareholders the payment of a € 0,051 dividend per share, increased as compared to that paid last year.

Kiriacoulis Group has reported an increase in its financial figures as well. Turnover grew by 22,91% amounting to € 21.740.799,17 from € 17.687.779,02 in 2002, whereas profit before taxes increased by 24,42% reaching € 2.526.094,21.

The company’s management expects that this year, both Kiriacoulis Mediterranean Cruises Shipping S.A. and Kiriacoulis Group will continue to sustain high growth rates. Furthermore, the company’s personnel is fully prepared to effectively respond to the customer needs and satisfy the increased demand for yacht vacations this season in our country due to the Olympic Games. It is noted that Kiriacoulis Group has ordered for this season and is already taking delivery of 52 new yachts.

Athens, March 5th, 2004