INFORM LYKOS reports financial results for the six-month period ended the June 30, 2004. Consolidated revenues reached EUR 35.7 million, compared to EUR 40.9 million for the same period of the last fiscal year, decreased by 12.8%. EBITDA exceeded EUR 6.5 million, down by 30.8% compared to EUR 9.3 million in 2003. Profits before taxes and minority rights reached EUR 3.3 million, compared to EUR 5.4 million in 2003, down by 38.8%. Profits before taxes and after minorities amounted to EUR 2.8 million, 31.4% lower than EUR 4.1 million last year.

It should be noted that the results for 2004 are not comparable to 2003. Consolidated figures for the 2nd Quarter of 2004 do not include KOSIKINIDIS S.A., the packaging subsidiary that was sold in the beginning of April. Therefore, 2004 first-half results include only the 1st Quarter of KOSKINIDIS, whereas 2003 first-half results included the entire six-month period of KOSKINIDIS.

INFORM P. LYKOS S.A., the parent company, ended the first quarter with revenues of EUR 20.2 million, down by 12.1% in comparison to the same period of 2003. EBITDA exceeded EUR 3.7 million, decreased by 22.2%, compared to the EUR 4.8 million of 2003. Profits before taxes dropped by 29.7%, at EUR 2.8 million.

'Consolidated results, for the 1st Half of the current fiscal year' stated Pavlos Tryposkiadis, Vice-President & Deputy Managing Director, 'show a relative improvement compared to the 1st Quarter, especially considering the loss of revenues and profits from the absence of KOSKINIDIS figures at the 2nd Quarter. The improvement will be further enhanced during the 2nd Half, since several important confirmed contracts have not yet started or have just started at the end of June and therefore have not yet been invoiced. Except the Olympic Ticketing project, significant contracts have been signed with Eurobank for the total management of their business forms, with Social Insurance Institute (IKA) for the Printing and Fulfilment of the insurance stamps and with Football Match Predictions Organisation (OPAP) for the printing of lottery forms. We also expect a significant boost in Romania since the new production line for personalized invoices has been put into operation. Therefore, we anticipate improved results in the 3rd and 4th Quarter'.