AUTOHELLAS S.A.

Announcement

An increase in its economic figures presented Autohellas for the first quarter of 2006. Consolidated turnover reached Euro21.3mill from Euro20.8mill in last years quarter, an increase of 2.4%. Earnings before tax, depreciation and investment activities reached Euro11.4 mill. It is worth mentioning that historically, the first quarter of each year is the lowest, as far as financial figures are concerned, since most of the company?s profits and revenue are made in the period between May and October, due to the intense seasonality of the tourism market. Demstar Rentals 2005 Ltd is being consolidated for the first time in a first quarter. Demstar Rentals 20005 Ltd is the franchisee of Hertz in Cyrpus. As a result, the first quarter of 2006 is burdened, in relation to previous year s quarter, since as mentioned above rent a car companies always experience losses during this period. In addition, dividend from our participation in Multifin, which in 2005 was paid during the first quarter, will be paid this year in the second quarter. This comes in addition to a one-off charge in one of our affiliated companies, which has affected the first quarter of 2006, and results in non-comparable figures as far as income from participation in associated companies is concerned. The above resulted in losses after tax and minority rights of Euro570,000 for the first quarter of 2006, from profits of Euro779,000 in the previous year s quarter.