The second annual meeting of IMC (ICOMIA Marinas Committee) took place in Corfu on the 26th-28th of September, with great success. The meeting was hosted by “K&G Med. Marinas Management S.A.”.

“K&G Med. Marinas Management S.A.” was established in 2001 and is involved in the marinas management and operation sector, providing management, organizational and promotion services. “Kiriacoulis Mediterranean Cruises Shipping S.A.” owns 51,32% of the share capital of the company.

IMC, which is one of the nine (9) working committees of ICOMIA (International Council of Marine Industry Associations), deals among others with issues related to marina management and operation such as safety, protection of the environment, evolution of new methods and practices etc. The committee also prepares proposals to the European Parliament regarding the issuance and enactment of rules and regulations concerning the operation of marinas.

The most important decisions taken during the meeting are

· The establishment of a marina evaluation system

· The operation of training schools for marina executives

· A website development for marina owners and administrators

· Conclusions deriving from statistical data collected from existing marinas.

As part of the side events of the meeting, “K&G Med. Marinas Management S.A.” organized a tour in Gouvia marina and also presented the other marinas (Lefkas, Zea, Kalamata) that “Kiriacoulis Mediterranean Cruises Shipping S.A.” has equity participation. The Mayor of Corfu, Mr. Micallef, honored with his presence the opening ceremony of the meeting.

All developments in the marina sector are of significant importance for “Kiriacoulis Mediterranean Cruises Shipping S.A.”, as, according to the latest published financial data of the period 1/1-30/06/2008, the 14,28% of its assets is invested in companies active in this sector. Based on the same financial data, the 12,93% of the turnover of the Group, of the financial period 1/1-30/06/2008, derive from companies of the marina sector (subsidiaries of the parent company)

Athens, 29 October 2008