IKTINOS HELLAS SA results for the first semester 2004 were significantly increased. More specific at 30 June 2004 company?s turnover grew by 42% at 8.812,07 from 6.212,43 (euros 000) at 30/06/2004. Net profits before taxation for the same period were 802,64 (?000) from 537,51(?000) at the end of the first semester 2003 with an increase of 49.3% on annual basis. On consolidated basis both turnover and profits before tax were significantly improved since both turnover and profits grew by 42% and 41% equivalently.

The company?s activities were expanded in the undertaking of major tasks both in supply and placement of marbles and granites. This fact boosted company? results and in this context, the Company within the first semester 2004, completed two major projects with total revenues euros 2.5m. Both tasks were concerning the supply and placement marbles and granites in Hotel Astir Vouliagmenis and Hotel Giorgio Residence, where among others, the company?s monopolistic marble 'Golden Spider' was extensively used.

Exports followed an uptrend this semester while the reorganization of the sales department was primary based on the establishment of exclusive collaborations with local wholesalers as regards the supply of innovative products (Quarella, glass stone, mosaic etc)

Finally, as regards the project of our subsidiary undertaking ?Iktinos Hellas S.A.? in Crete, is in course and all tasks are proceeding according timetable. We would like to remind that the completion of this project will magnify Groups results the following years.