ALPHA REAL ESTATE SERVICES

Q1 2004 NET PROFIT UP 24%

ALPHA ASTIKA AKINITA net profit after tax in Q1 posted an increase of 24% and reached Euro 1.2 million compared to Euro 1 million in Q1 2003.

Profit before tax increase by 18.6% to Euro 2 million compared to Euro 1.7 million.

Turnover increased by 2.5% to Euro 3.7 million compared to Euro 3.6 million in Q1 2003.