ΒΑΡΒΑΡΕΣΟΣ Α.Ε.

H1 2004 Financial Results

The company s turnover during the first half of 2004 increased by 7,28% reaching to 14,75 million EURO contrary to 13,75 million EURO the corresponding period last year. The company s exports came up to 10,78 million EURO contrary to 9,49 million EURO during the first half of 2003, increased by 13,63%. The financial results marked a loss of 1.043 thousand EURO compared to 1.160 thousand EURO the same period last year, improved by 10%.

The financial figures during the first half of 2004 were negative due to the increased price of raw material (cotton) and the low prices of products.

Nevertheless, the company expects, that the financial results will be improved further by the end of the year with a significant increase in company s turnover and exports.