Today Rilken S.A. publishes the first quarter results of 2005 for the first time according the International Accounting Standards. The figures of the first quarter of 2004 are adjusted in order to be comparable with the corresponding statement of 2005.

In the first quarter of 2005 Rilken realized net sales of 5.718 T EURO, a decreased of 14,2% compared with the first quarter of 2004.

Domestic sales declined by 11,4% mainly due to the downturn of the retail market and the high stock levels in the trade. Exports declined by 36,6% due to the price consciousness of consumers products and the unfavourable exchange rates of Euro / USD.

Gross profits declined by 20,0% and amounted to 3.560 T EURO vs. 4.444 T EURO of 2004. This reduction is due to the above-mentioned reduction of sales and increased raw material prices.

Operating expenses were reduced by 6,6%, despite the inflation of 2,9% which is mainly due to the overall restrictive expense policy.

Profit before taxes of the Company amounts to 287 T Euro in the first quarter of 2005, decreased of 62,4% compared with the corresponding quarter of 2004. The drop is due to the reduced sales and gross profit margin that are not offset by the tight expense control as well as due to a minor effect of the implementation of IAS.

The Rilken Group, consisting of Rilken S.A. and its retail distribution company Schwarzkopf & Rilken Hellas S.A., recorded consolidated net sales of 6.495 T Euro, a decreased by 14,7% compared with the corresponding period of 2004. The decrease is mainly due to the above-mentioned reasons, that is the overall declining sales in Greece as well as exports.

Profits before taxes of the Group decreased by 58,6% and amount to 350 T Euro in the 2005 vs. the 845 T EURO of the corresponding quarter of 2004 due to the reasons mentioned above.

Rilken S.Α. is an Athens based manufacturer and marketer of cosmetics, specialized in hair care products. The Company is a member of the Henkel Group which is the majority shareholder of Rilken S.A. via its subsidiary Henkel Hellas S.A.