It is announced by the company CH.K. TEGOPOULOS EDITIONS SA that the Regular General Assembly of Shareholders of 22 April 2005 decided among others a) the increase of the Participial Capital of the company at forty one millions four hundred fifty six thousands two hundred one Euro and eighty four cents (41.456.201,84 ) with increase of nominal value of action at 0,76 with capitalisation of reserve funds "difference from publication of action in favour even", b) the reduction of Participial capital of company at thirty millions five hundred forty six thousands six hundred seventy five Euros and four cents (30.546.675,04) with reduction of nominal value of each action at 0,56 with return of capital to the shareholders. After the above-mentioned increase and simultaneous reduction, the participial capital of the company amounts in the total sum of twenty seven millions of two hundred seventy three thousands eight hundred seventeen Euros (27.273.817,00 ) and is divided in fifty four millions five hundred forty seven thousands six hundred thirty four (54.547.634) common nominal action with nominal value of each action fifty cents (0,50).

The Ministry of Growth with the decision No K-2-5254/05.05.2005 approved the modification of the relative article of statute of company. The Administrative Council of the Athens Stock Exchange in its Meeting, on the 12 May 2005 was informed for the increase and the simultaneous reduction of the nominal value of actions of the company.

The Administrative Council of the Company in its Meeting, on the 13th May 2005, announced to the shareholders that beneficiaries of the sum of reduction (0,56 Euros per action) are the holders of actions at the close of meeting of the Athens Stock Exchange of 17 May 2005 and from 18 May 2005 the actions of the company were negotiable in the Athens Stock Exchange with the new nominal value 0,50 Euros per action and without the right in question.

The payment of the sum of reduction of the Participial Capital (0,56 Euros per action) will begin on Thursday 30 June 2005 and it will be realised via the Central Securities Depository in the operators (Agents and Stock Exchange Companies) of the beneficiary shareholders, which (operators) will declare in the CSD that they have right of income of the sum of reduction of the Participial Capital for their customers, in order to pay it to their shareholders or to credit their banking accounts.

For the shareholders, for which their operators will not make the above statement or the action is found in the special account, the payment will be done by the Central Securities Depository (Mayrokordatoy Square and Aharnon 17, 10438, Athens, Tel. 210 5214500) the weekdays and from the 08:00 until 15:00 up to Wednesday 30 November 2005 or with process that will announce the Depository.

After the above mentioned date (30 November 2005 ) the sum of reduction will be paid only in the offices of our company Minoos 10 - 16,11743, Athens.

For any information the shareholders can be addressed in the Department of Shareholders of our company, responsible Mrs Aleka Bratimou,
Tel. 210-9296577,
Fax 210 - 9028596.