Babis Vovos International Technical S.A. announces:

'Following the placement of 20% of the company's share capital with institutional investors, BVIC's free float participation in the global stock market index EPRA / NAREIT will be adjusted to 40% from 20%, as at October 22nd 2004.

It should be noted that since September 8th 2004, Aris Vovos - BVIC's Managing Director, was appointed a member of the Board of EPRA.