Revenues of ALUMINIUM DE GRECE for the first half of the year 2004 amounted to euro 178,3 million, compared to euro 161,1 million in 2003, corresponding to a 10,7% increase.

Earnings from operations amounted to euro 38,0 million or 21,3% of sales (corresponding to increase of 85,4% compared to 2003).

Net profit before taxes amounted to euro 26,7 million, compared to euro 11,8 million for the corresponding period in 2003, presenting an increase of 126%.

The consolidated net profit before tax of ADG and its mining subsidiary Delphes & Distomon in the first semester of the year 2004 amounted to euro 26,0 million, compared to euro 11,4 million in 2003.

These results have been influenced positively by the evolution of alumina and primary metal prices (LME) and both ADG's and D-D satisfactory industrial performance.