Sales for the parent Company during the first quarter of 2005 reached euros 36.7 million from euros 32.9 million, posting an increase of 11.3% compared to the respective period of 2004 while net earnings after tax reached euros 6.0 million from euros 5.1 million in the first quarter of 2004, posting an increase of 15.8%. The containment of expenses continued during the first quarter of 2005 as they decreased to 34.1% as a percentage of turnover compared to 37.9% during the respective quarter of 2004. Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 9.6% reaching euros 7.7 million.

On a consolidated basis sales reached euros 38.8 million compared to euros 44.4 million during the respective 2004 period while earnings before tax after the deduction of minority interest reached euros 7.6 million from euros 7.5 million. However, it is noted that the consolidated financial results of 2005 do not include the results of the companies EFSIMON and EFSIMON COLLECTIONS, therefore the quarterly results of the two fiscal years are not comparable. If the results of the two companies are excluded from the results of 2 004, for comparability reasons, turnover would post an increase of 11.6% while earnings before tax after the deduction of minority interest would post an increase of 10.1%. Consolidated EBITDA increased by 9.4% - reviewing comparable financial statements - reaching euros 8.0 million while consolidated earnings after tax increased by 14.1% reaching euros 5.0 million. Consolidated earnings per share (EPS) reached euros 0.095 from euros 0.083 for the respective period of 2004. Finally, it is worth mentioning that the application of the International Financial Reporting Standards (IFRS) affected neither the basic financial figures of the parent Company nor the consolidated ones.

The Annual General Assembly of the Company's Shareholders will take place on Friday May 27, 2005, at 12:00 at the Company's head office, 23 km National Road Athens - Lamia, Agios Stefanos. The Company's BoD will propose to the General Assembly the distribution of dividend amounting to euros 0.70 per share for the fiscal year of 2004 compared to euros 0.60 per share for 2003.

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