The management of Fashion Box Greece S.A., is hereby announcing the financial results of the first quarter:

A. SALES

The total sales (turnover) of the company came up to 4.075.000 euros in comparison to 3.557.000 euros of the first quarter of 2003 having an 14,55% increase, more specifically:

The wholesale (inland and abroad) came up to 2.938.000 euros in comparison to 2.719.000 euros of the first quarter of 2003, increased by 8%.

The retail sales came up to the amount of 1.137.000 euros in comparison to 838.000 euros of the first quarter of 2003, increased by 35,6%.

The consolidated sales of the group came up to the amount of 4.068.000 euros in comparison to 3.547.000 euros of the first quarter of 2003, increased by 14,7%.

B. EARNINGS BEFORE TAXES, DEPRECIATION AND AMOTRIZATION

The earnings before taxes, depreciation and amortization came up to 545.000 euros in comparison to 429.000 euros of the first quarter of 2003, increased by 27,1%.

The consolidated earnings before taxes, depreciation and amortization of the group came up to 504.000 euros in comparison to 396.000 euros of the first quarter of 2003, increased by 27,3%.

C. EARNINGS BEFORE TAXES

The earnings before taxes came up to 412.000 euros in comparison to 305.000 euros of the first quarter of 2003, increased by 34,8%.

The consolidated earnings before taxes of the group came up to 359.000 euros in comparison to 262.000 euros of the first quarter of 2003, increased by 36,9%.