Atticas board to propose a Grd 67 bln capital increase in the extraordinary general meeting of shareholders of 14th October 1999

The Board of Directors of Attica Enterprises S.A. wishes to announce that in the Extraordinary General Meeting of Shareholders which will take place on Thursday 14th October 1999, it will ask the shareholders to approve:

1. The issue of one (1) bonus share for every ten (10) owned.

2. The right to acquire one (1) new share for every ten (10) owned , for a price of Grd 3,200 per new share.

3. A private placement of 13,350,000 shares on a non pre-emptive basis to new shareholders and employees of the Group.

The proposed capital increase is of the order of Grd 67 bln and the funds shall be used for the financing the acquisition of shares of Strintzis Lines and for financing the investment program of Attica Enterprises S.A., its Subsidiaries and the associated Companies of the Group.

Voula, 13th October, 1999

Ohe Board of Directors

For more information please contact:
Mr. Yannis Criticos,
Attica Enterprises S.A.,
tel.: +301 891 9500,
fax : +301 891 9509,