The management of BVIC announces that yesterday the Group entered into an agreement to purchase a plot of land of 89,000 sqm on Poros Island. The plot includes semi-developed residential buildings of 20,000 sqm that will be developed as summer houses, as well as developed buildings of approximately 4,000 sqm.

The total cost of the Poros project, i.e. plot acquisition plus development and refurbishment cost, is estimated to be approximately Eur 30 mil. The Poros project is part of the Group's expansion strategy into the tourist development market and it is estimated to be completed by the first half of 2006.