ALPHA REAL ESTATE SERVICES

H1 2005 results

Net profit after tax increased by 19% in the first half 2005 and reached Euro 3.9 million from Euro 3.3 million in H1 2004. Profit before tax increased by 11% to Euro 5.6 million from Euro 5.1 million a year ago. Turnover increased by 14% to Euro 8.9 million from Euro 7.8 million last year.