Mrs Areti Kiriacoulis, one of the main shareholders, announces to all the investors that, according to the relative decision of ATHEX Board of Directors, in the trading session of April 22, 2003 and henceforth the market making in the listed shares of KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A.  by the ATHEX member PROTON SECURITIES will commence with a view  to boosting the share’s liquidity. The duration of the market making contract is three (3) years. In order to facilitate the market making process and in view of  all the possible risks taken by the market maker, Mrs Areti Kiriacoulis, as one of the main shareholders of the above company has entered into an contract with PROTON SECURITIES, by virtue of which she has the obligation to contract repurchase agreements on ATHEX Derivatives Market. Moreover, the market making contract provides the participation of Mrs Areti Kiriacoulis in the annual profit/loss resulting from market making transactions of  PROTON SECURITIES. Mrs Areti Kiriacoulis’ participation in the profit/loss in question amounts to 35%, at the maximum amount of € 15.000 for each year of the contract’s duration.

Athens, April  14th, 2003