In response to your letters with protocol numbers 33239/30.06.2006 and 33584/03.07.2006 regarding a) an article on the internet concerning the cooperation of HELLENIC DUTY FREE SHOPS S.A. with FOLLI - FOLLIE S.A. for the sale of products through the subsidiaries of FOLLI - FOLLIE S.A. and b) the cooperation between the Company and the company BIJOUX TERNER and the establishment of the subsidiary HELLENIC TOURIST BUREAU (HTB) the management of the Company informs you that it has reached an agreement with the American jewellery and accessories brand "BIJOUX TERNER" and already operates one store in the Athens International Airport. It should be mentioned that the Company examines the further expansion of the "BIJOUX TERNER" activity to up to seven more points of sale in regional airports, ports and border crossings (in Thessalonica, Heraklion, Rhodes, Corfu, Patra, Evzonoi and Promachonas). The timeframe for the operation of these stores is before the first days of August. The turnover on an annual basis from this activity is estimated between euro 6.0 - 6.5 million. Moreover, we remind you that the management of the Company has informed the investing community, with a press release on 31.05.2006, that it has redefined its strategy aiming at further strengthening the Company's growth and will focus on the following three growth drivers:
- Acquisition of international brands
- Development of Greek brands that will meet the challenges of a global competitive environment and
- Support of the Tourism sector

Under this framework the Management of the Company examines every potential acquisition or cooperation with Greek and International brands without although having reached to an agreement (other than the one already mentioned) until now. Moreover, as you are already informed, the subsidiary HTB was established on 13.05.2005 and was consolidated for the first time on 30.09.2005, as it is depicted on the financial statements for the first nine months of 2005, which were published on 22.11.2005. HTB is currently in the stage of examining ways of implementing its business plan; hence the company's sales are non existent for the time being.
The Management of the Company will inform the investing community and the regulatory authorities as soon as there are developments on the subject, in compliance with the Law 3340/10.05.2005 and the decision 3/347/12.07.2005 of the Hellenic Capital Market Commission.