The annual General Shareholders Meeting of Hellenic Fabrics S.A. held on Friday, June 25th 2003, was carried out successfully with the participation of 66,79% of the company's shareholders.

There was a unanimous approval of the Company's Financial Statements, the Board of Directors' Report and the Auditors' Report for the fiscal year 2003. The General Meeting approved a dividend distribution of 945.460 Euros, which translates to 0,07 Euro per share. Based on the current stock price, the dividend yield arises to 4%.

As far as the Company's financial figures for the first-half period of 2004 are concerned, total sales are expected to reach 48 mln Euros as opposed to 40 mln of the corresponding period of 2003, showing a 20% increase that originates exclusively from denim sales.

Total exports constitute constantly, more than 80% of sales.

Earnings before taxes are estimated to show an increase, compared to the first half-year period of 2003.

The members of the Board of Directors were reelected for another 5 years while the General Assembly appointed its independent members. The Board of Directors' Meeting that followed the General Assembly, decided its composition as follows: Christos J. Accas, Chairman (executive member), Michalis I. Kolakides, Vice President (independent and non executive member), John C. Accas, Chief Executive Officer (executive member), George J. Accas, Member (executive member), Rigas D. Tzelepoglou, member (independent non executive member).