The 1st semester of 2004 the company?s profits were amounted at the same level as same period of year 2003. There is a remarkable decrease of company?s liabilities amounted to euros 20 mil. and also there is an increase of the current assets which came up to euros 20,6 mil.

Gross consolidated operating results of the 1st semester came up to euros 9,1 mil. while at the same period of year 2003 amounted to euros 8,5 mil. The operating results of the 1st semester of 2003 were assisted from the sale of TORM shares, while the 1st semester of 2004 amounted to euros 2,46 mil.

The net results after the abstraction of minority shares was set to euros 716.000. The total liabilities of the consolidated statement were decreased for euros 21,3 mil.