Minoan Lines Shipping S.A. announces that the 2004 dividend, amounting to EURO 0.10 per share, pursuant to the resolution of the Company's Ordinary Annual General Meeting of Shareholders of 12 June 2005, shall be paid to the beneficiaries as of Monday, 8 August 2005.

Entitled to the dividend are the shareholders of record as at the closing of the Athens Exchange session of 10 June 2005.

Payment of dividend will be made through NATIONAL BANK OF GREECE during the period 8 August 2005 - 8 February 2006. Shareholders can receive their dividend as follows:
1. Through the corresponding brokerage firm or custodian party that will directly credit the dividend to each shareholder's account.

2. In person from NATIONAL BANK OF GREECE branches. In order to receive the dividend, shareholders may present their Identification Card and their S.A.T. number to the representative in any branch of NATIONAL BANK OF GREECE network.

In addition, a third party may receive the dividend, provided that he / she presents not only the above documentation, but also an authorization letter (verified by a police authority for its genuine signature), presenting the owners' full personal details.

Following the above deadline (8 February 2006), dividend will be paid at the Company's headquarters, 17, 25th August Av. Heraklion, Crete.

The account administrators should address the Custodian Division of NATIONAL BANK OF GREECE, Corporate Actions Department, Sofokleous 8, Athens, Messer's Ioannis Xidis & Elias Dimitriou tel. + 30 210 3342624, + 30 210 3342146.

Shareholders may address any of their queries to the Company's Investor Relations Department - tel. + 30 2810 399838.