In reference to the press releases relating to Hellenic Sea Ways S.A financial results for the fiscal year 2005, we would like to inform the investment community with the following: Minoan Lines consolidated financial statements for the fiscal year 2005 which have been produced according to the International Financial Reporting Standards (I.F.R.S.), the article 134 of law 2190/1920 and audited by the audited company < > reflect clearly and accurately the companys asset structure and financial position at the day of their release. It should be noted that in reference to the presentation of affiliated and participated companys figures in our consolidated financial statements, the accounting principles of parent company have been implemented and the appropriate amendments in their financial statements have taken place.