According to the annual financial statements as of 31/12/2005, compiled according to the international financial reporting standards, the financial results of the Group have been recorded as follows:`The Group's turnover amounted to EUR 274 million versus EUR 425 million in 2004, dropping by 35.6% y-o-y, due to weaker construction activity for the Group in 2005, which in turn affected the aggregate turnover on consolidated basis. It is noted that following the new contracts signed in Greece and abroad, the Group's backlog of construction projects settled at EUR 400 million as of end 2005 (almost doubled as compared to the end of 2004), and is expected to positively affect the Group's activities over the following quarters. As an indication, the last quarter of 2005 was especially strong on operating profitability (EBITDA) level, as well as on EBT (earnings before taxes) level in comparison with the previous quarter. Net profit after minorities for the GEK Group reached EUR 18.8 million vis-a-vis EUR 74.1 million in 2004, posting a drop of 74.6%. It is noted that on comparable basis (after deducting the extraordinary profit of EUR 44.3 that derived from GEK-HERMES merger in 2004), the drop in earnings settles at 39%. On cash flow basis, 2005 was a very good year, with operating cash flows reaching EUR 89.3 million vis-a-vis EUR 17.1 million in 2004. Group's operating profit (EBITDA) generated from its energy activities reached EUR 24 million approximately vis-a-vis EUR 7 million in the previous year, posting growth of 240%. Currently, the energy sector contributes by 37% to the Group's total operating profitability (EBITDA). In the real estate sector, earnings before taxes reached EUR 12.4 million versus EUR 0.16 million in 2004, reflecting the strong return of the real estate portfolio. The sector's contribution is expected to remain significant over the following years, since the Group implements constant investments in this area, not only in Greece but also abroad. Group's cash and cash equivalents settled at EUR 104 million vis-a-vis EUR 83 million in the previous year, whereas the net cash flow position of the parent company GEK SA reached EUR 52 million, strengthening the Group's ability to participate in the prospective tenders for the operation of national highways as well as in energy projects. The proposed dividend for GEK amounts to EUR 0.12 per share, unchanged over the previous financial year. The Group's dividend policy reflects the ability to generate a significant liquidity and the confidence to the companies' prospects. With regard to the consolidated financial results of TERNA SA, net profit after minorities reached EUR 13.8 million, dropping by 66% y-o-y. Turnover amounted to EUR 245 million versus EUR 427 million, dropping by 42.7%. It is noted that the above reduction was due to weak construction activity for the Group as a whole, whereas the higher backlog of construction projects over the following quarters boost expectations with regard a stronger construction activity this year. Consolidated operating cash flows of TERNA reached EUR 63.1 million. Operating profit (EBITDA) settled at EUR 42.1 million, with energy sector (wind and thermal energy) contributing by 38% to total operating profitability. The Group is leader in the Energy sector, since its total installed capacity in wind and thermal energy reaches 213 MW. It is emphasized that over the following months 55 additional MW of wind parks will be installed. It is noted that Group's target is to expand installed capacity of renewable sources of energy (wind parks and hydroelectric projects) to 450 MW within the next three years. The proposed dividend for TERNA settles at EUR 0.22 per share, unchanged as compared to the previous year, implying stronger expectations about the Group's prospects.