The first half 2004 financial results of the parent company Info-Quest indicate the sustainable improvement of the financial performance of the company.

Revenues reached euro 183,8 m from euro 140,7 m showing an increase of 31% as compared to H1 2003
EBITDA reached euro 11,6 m from euro 0,5 m in H1 2003
Earnings before taxes reached euro 1,3 m from euro 5,8 m losses in H1 2003.

The impressive improvement of the company's financial results are mostly due to the telecommunications division (Q-TELECOM), which shows constant growth rates, creates significant positive cash flows and for the first time posted earnings before taxes in the second quarter of 2004.

The parent company's financial results per business area are as follows:

I. T.
The IT revenues reached euro 135,8 m from euro 117,4 m in H1 2003 increased by 15,7%. EBITDA reached euro 6 m which accounts for the 52% of the company's EBITDA, while in H1 2003 was euro 6,2 m. Earnings before taxes reached euro 2,7 m, from euro 5,3 m in H1 2003. It must be noted that starting from FY 2004 the company aggravates its financial results with provisions for customers' rebates which usually are issued to the customers at the end of each year. Thus, for H1 2004 the amount of the above mentioned provision is euro 1,4 m while in the corresponding period of 2003 the whole amount of customers' rebates appeared in Q4 2003. The H1 2003 financial results were additionally favored by euro 1 m from foreign exchange gains, versus foreign exchange losses of euro 0,16 m in H1 2004.

Q-TELECOM
Q-Telecom's Revenues were more than doubled in H1 2004 compared to H1 2003, reaching euro 48 m from euro 23,3 m.
The EBITDA was positive by euro 5,6 m from negative euro 5,7 m in H1 2003. The telecommunication division, which accounts for the 26% of the company's revenues, contributes the 48% of total EBITDA which shows the division's and the company's perspectives.

For H1 2004 Q-Telecom posted losses before taxes euro 1,4 m from losses of euro 11,1 m in the corresponding period of 2003. As it was mentioned above, in Q2 2004, Q-Telecom posted earnings before taxes.

Info-Quest will announce its consolidated financial statements by the end of August.
As it was announced in the company's General Assembly in June 2004 the H1 2004 consolidated results will be negative, though significantly improved from H1 2003, due to the losses of ACS courier.
ACS Courier during Q1 2004 was obligated to undertake an important cost of its agent network reorganization, due to the unconventional behavior of some of them.
During Q2 2004 the financial results of the company became stable and it is expected that they will be positive at the following quarters. It is estimated that the cost of the reorganization will affect only FY 2004 results and the company will return to profitability in 2005.

About Info-Quest:
Established in 1981 Info Quest (Athens Stock Exchange-ASE , Reuters ) is the largest Greek Information Technology (IT) Company, ranked by its sales volume. Info Quest operates mainly in Greece, focusing its activities in the areas of IT and Telecommunications, and operates through three distinct operational sectors: (1) Products & IT Support Services, (2) Software and IT Solutions, (3) Telecommunication Services (Q-Telecom). Moreover, Info-Quest is a majority shareholder of ACS Courier company, which is the leader in its market with 350 points of sales in Greece. Info Quest reported a consolidated turnover of ? 474 million for the fiscal year ended December 31, 2003. Info-Quest participates in more than 20 companies employing more than 1500 people. The company develops services activities through which aims to achieve higher profit margins. Info-Quest?s Telco division, Q-TELECOM, realizes large investments in the Telecommunications sector by installing its own Telecom network and since September 2002 offers fixed and mobile telephony services all over Greece.