On Thursday 23 February 2006, 17:00 p.m, a conference call was held by the management of Blue Star Maritime S.A., in order to inform analysts and investors on the financial results for the year 2005. During the conference call the management team presented the most important issues of Group's financial statements and reference was made to the measures taken in order to minimize the effect of high fuel oil prices in the operational results of the Group, such as the imposition of fuel surcharge in the Greece - Italy routes and the reduction in cruising speed of some of its vessels in the Greek domestic market. Furthermore, reference was made to the harmonization of the Greek legal framework to the European Regulation 3577/92, which according to the Group's management may take place before the summer season, and thus allow our Group to apply a flexible commercial policy in order to further improve its operational margins.