• Turnover: Euro 18,906,000, as against Euro 6,895,000 in 2002.

• Net earnings before tax, interest and depreciation (EBITDA): Euro 403,000, as against a loss of Euro 535,000 in 2002.

The turnover increase and the turnaround into profitability are attributed to the partial re-operation of the Athens Hilton Hotel, following 15 months of operation suspension due to the renovation works, which will be completed within the current year.

The improvement in the Company's financial performance is expected to continue, as its two hotels, the Athens Hilton and the Hilton Rhodes Resort, are now in a position to fully exploit tourism growth in the years to come, and especially during the 2004 Olympic Games in Athens.