ΜΙΝΩΙΚΕΣ ΓΡΑΜΜΕΣ Α.Ν.Ε.

Announcement pursuant to art.24 par.2 (a) of Law 3461/2006

Pursuant to the provisions of article 24 par. 2 (b) of Law 3461/2006, as in force, and following the information that we received on November 7th 2008, we would like to inform the investment public that on November 4th 2008, the company "Bear Stearns International Limited", increased its stake in Minoan Lines' share capital from 0.49% (352,409 shares with voting rights) to 0.55% (391.281 shares with voting rights).
Additionally, the above mentioned company, on November 5th 2008, bought 50,000 shares with voting rights at a price of euro 5.1759 per share.
Following this transaction the total share number of "Bear Stearns International Limited" shaped at 441,281 (0.62% of company's share capital and voting rights).