NEORION HOLDINGS S.A. announces that on August 2, 2005 it signed a five-year mortgage common bond loan, amounting ?17,500,000.00 with Emporiki Bank S.A. (as bondholder) and its 100% subsidiary company SYROS SHIPYARD & INDUSTRIAL BUSINESSES S.A. (as the issuer). It is noted that NEORION HOLDINGS S.A. will provide guarantee and collateral on some of its estate for an amount up to ?6,550,000.00 in favor of its 100% subsdiary SYROS SHIPYARD & INDUSTRIAL BUSINESSES S.A. for the issue of the aforementioned common bond loan. The amount of the said loan will be used for paying off the existing loans of the above subsidiary.