The Company Hellenic Duty Free Shops S.A. announces that a Shareholders Extraordinary General Meeting took place yesterday and the following decisions have been taken:

1. Transfer of the seat of the Company from the Municipality of Glyfada to the Municipality of Ag. Stefanos, Attica, as of 1st April 2004 and respective amendment of the relevant Articles of Association of the Company:

Taking into consideration the transfer of the International Airport from Hellinikon to Spata and that the head offices of the two main shareholders of the company GERMANOS S.A. and FOLLI-FOLLIE S.A. are located in the Municipality of Ag. Stefanos, it is expected that the transfer of the seat and the head offices of the company will improve the services provided by the Company and facilitate the cooperation and synergies with its main shareholders. 2.Approval of the Logistics - Warehouse and Distributions Agreement as well as of the respective Lease agreement of warehousing space for the operation of a fiscal and a customs warehouse with the company GERMANOS A.B.E.E.:

According to the approved agreements, the main shareholder of the Company, GERMANOS S.A. will provide logistics, warehousing and distributions services to the Company and will lease a warehouse space of total 1.498,05 sq.m. for an initial period of three years, and against a fee equal to 1% of the annual net retail sales of the Company. Given that the cost of the warehousing projects and the distribution of the merchandise of the Company for the year 2002 amounted to 1,58% on the net sales of the Company and that the GERMANOS installations are equipped with modern electronic and security systems that will further improve the productivity of the Company, it is expected that this Agreement is highly profitable for the Company.

3. Approval of the Lease Agreement for office space with the company FOLLI-FOLLIE S.A.:

According to the Agreement approved, the main shareholder of the Company, FOLLI-FOLLIE S.A. will lease to the Company as of 1.4.2004 new and modern office and warehouse spaces located at the 23rd klm of the National road Athinon-Lamias, of total 3.513 sq.m. for 19?/sq.m. per month. Taking into consideration that the current offices of the Company are old as well as that the rent is quite advantageous for the standards of this specific area, the above-mentioned agreement is for the benefit of the Company.