Today Rilken S.A. publishes the semester results of 2004. The Company realized net sales of 13.601 T EURO and profit before taxes of 1.631 T EURO.

Rilken sales in the first semester of 2004 were 13.601 T EURO, decreased by 2% vs the corresponding period of 2003.

Domestic sales remained at the same level of the corresponding period of previous year, whereas export sales showed a decrease, mainly due to the change of the distribution channels and high stock levels in some countries.

Gross profit of the Company improved significantly to 1.631 T Euro vs 1.144 T Euro of the corresponding period last year. This improvement is mainly attributable to product mix and cost of sales decreases, caused by the discontinuation of the prior year mark-up incorporated in the inventories.

The operating expenses of the Company decreased by 0.7% due to the implementation of a restrictive expenses policy offsetting inflationary pressure and increased provisions for bad debt. The increase of provisions for bad debt is due to the gradual implementation of IFRS.

The Rilken Group, consisting of Rilken S.A. and its retail distribution company Schwarzkopf & Rilken Hellas S.A., recorded consolidated net sales of 15,4 M Euro, decreased by 3,7% vs the corresponding period of 2003 mainly due to the decrease of exports.

Operating profits of the Group increased by 673 T EURO to 2.121 T EURO due to the above mentioned reasons. Consolidated profits before taxes also increased by 50% vs last year and reached the amount of 1.885 T EURO.

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.

The Financial Statements of Rilken S.A. for the semester of 2004, including the Consolidated Financial Statement, will be published on 27th August 2004.