Info-Quest announces its Consolidated Financial Results under IFRS for the first half of 2005.

- Consolidated Revenues of 241,6 m versus 227,3 m in H1 2004, an increase of 6%.
- Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of 16,1 m versus 1,8 m in H1 2004.
- Consolidated Earnings before Taxes (E.B.T.) of 7 m versus losses of 7,7 m in H1 2004.
- Consolidated Earnings after Taxes and minority interest of 5,5 m versus losses of 5,6 m in H1 2004.

The improvement in the profitability of the Group was mainly due to the strong financial performance of Q-TELECOM, the telecom division of mother company Info-Quest, as well as the turnaround and the return to profitability of ACS.

Parent company's revenues in H1 2005 reached 193,5 m vs 182,8 m, EBITDA more than doubled to reach 15 m vs 6,3 m, Earnings before Taxes reached 7,9 m vs losses of 1,3 m and Earnings after Taxes reached 6,6 m vs losses of 1,2 m in H1 2004.

Info-Quest H1 2005 financial results include extraordinary results 2,3 m from the Liquidation Trust of AremisSoft corporation

The parent company's financial results per business area are as follows:

I. T.
The IT revenues reached 120,5 m from 135,3 m in H1 2004, EBITDA 2,8 m, vs 3,9 m and Earnings before Taxes reached 2,6 m vs 1,7 m in H1 2004.

Q-TELECOM
Q-Telecom's Revenues reached 73 m in H1 2005 from 47,5 an increase of 54%.
EBITDA reached 12,2 m from 2,4 m and earnings before taxes reached 5,3 m vs losses of 3 m in H1 2004.
Q-Telecom's customer base on June 30, 2005 reached 854.436 active mobile connections and 71.896 fixed telephony connections.
Q-Telecom's commercial policy focuses on mobile telephony and especially on the prepaid. During the second quarter of 2005 Q-Telecom added 60.930 net new additions, most of them prepaid.

For the mobile line connections and for the period from 01/01/2005 until 30/06/2005, the Average monthly Revenue per User, ARPU, was 13,7 the Average monthly Minutes of Use, AMOU, 48 min and the Average monthly No of SMS, ANSMS, per mobile connection reached 59 messages.

Q-TELECOM is aiming to 1.000.000 active mobile connections by the end of 2005 with annual revenues in excess of 150 m. Q-TELECOM also provides integrated fixed wireless solutions to corporate customers.

The Board of Directors of Info-Quest decided on August 29 the spin-off of the company's telecommunications business according to the provisions of law 2166/1993 and its contribution to Info-Quest?s 100%-owned subsidiary "Q Telecommunications S.A.".

The spin-off of the telecommunications business and its contribution to a subsidiary will be conducted according to articles 1-5 of law 2166/1993. The financial statements of the business will be drawn up as of the 31st August 2005. The completion of the separation is subject to the resolutions of the appropriate bodies of the two companies and the approvals of all relevant authorities, as specified by law.

Info-Quest is in discussions with foreign investors for their possible participation in the share capital of "Q Telecommunications S.A.".

ACS Courier
ACS, the courier services company, which has recovered in 2005, has H1 2005 sales of 32 m vs 29 m, EBITDA 1 m vs - 5.7 m and EBT of 0.4 m vs losses of 6.6 m in H1 2004.
ACS has the largest network of franchisees with more than 300 points of sales in 200 cities in Greece. ACS operates in Cyprus and Albania and from this year will also operate in Bulgaria and Romania.