According the New Regulation of the Athens Exchange and in particular with article 277, paragraph 2.c regarding ?obligations for announcements on a regular basis, MICHANIKI S.A. announces the following:

A) The Annual General Assembly of Shareholders will be held during the last ten days of this coming June of 2005,

B) The payment date of the dividend for the fiscal year 2004 is expected to be no later than mid August of 2005.