Minoan Lines announces that has agreed with Italian company MOBY S.P.A. for the sale of H/S/F Ariadne Palace which operates in the route Patra-Venice. The total sale proceeds will be Euro 90 million while the estimated capital gains approximately Euro 11.3 million. The subject sale is done in the framework of Companys strategic planning for increase of utilization rates and rationalization of the North Adriatic routes. The process of the aforementioned sale is expected to be concluded by the end of the current year.