BETANET S.A, in accordance with the article 4 of the 5/204/14.11.2000 decision of the Hellenic Capital Market Commission, announces to the investors that it signed an agreement with technical company CYBARCO S.A., which is the main contractor of the project : Construction of hotel complex named LUCA CYPRIA FALIRAKI owned by CYPROTEL RHODES S.A. in Faliraki, Rhodes. The agreement refers to the construction with precast concrete elements of the bearing structure of all new two-floor buildings with a total estimated surface of 6.000 m2 and has a budget of 2,96 mil. ? plus VAT. The project will be completed until May 1st, 2005. In addition, BETANET S.A. announces that it signed a commercial agreement with AL SHADEN Co, Damascus, Syria. The Syrian company will be the official agent of BETANET S.A. products and services in the regions of Syria, Livanos and Jordan.