For the first quarter of 2004, BETANET reports increased turnover on a company and consolidated level. More specifically, the parents company turnover rose to 1,85 mil. euros against 1,70 mil. euros in the respective period of 2003 showing a 9% increase while the respective consolidated turnover rose to 3,30 mil. euros against 3,05 mil euros in 2003, increased by 8%. Likewise the earnings before taxes were increased by 9% for the parent company reaching the amount of 0,276 mil. euros from 0,253 mil. euros with respect to the first quarter in 2003 and 134% on a consolidated level reaching the amount of 1,067 mil. euros from 0,456 mil. euros due to increased income from participations of the subsidiary EKAT-ETAN which, as it is known, possesses contractors certificate of 6th class and participates on public projects. Likewise, the company?s activities for the first quarter of 2004 present a positive outlook.

More specifically, BETANET was appointed as the provider of the concrete prefabricated elements, which will form the main constructions at the starting point of the Marathon race for the Olympic Games of 2004. The production and delivery of the prefabricated elements in question should be completed gradually within a period of forty (40) days. At the same time, the construction of the bearing structure for the new multi-storey four stars hotel of the Hellenic Olympic Committee (HOC) opposite the Olympic stadium was completed in record time (one floor per week) by using BETANET?s prefabricated concrete structural elements. Similarly, the 100% subsidiary EKAT-ETAN has undertaken the completion of 1,0 mil. euros net worth of structural repair projects in downtown Athens.

BETANET plans to complete additional new investments during 2004. The implementation of the new 1,5 mil. euros worth investment program is aiming at improving further the company?s sales, the production process and the operating expenses, while it includes the construction of a new exhibition center at the area of the company?s industrial facilities in Schimatari, along with the new 500m2 office building nearly to be completed in order to stand as the Company?s new Training Center. In the framework of the forthcoming International Accounting Standards (IAS) implementation, the Company has already initiated all the relevant procedures for the estimation of the fixed asset surplus in the two industrial facilities in Schimatari and Komotini