9month 2000 results Attica Group net profit rises by 4.2% despite heavy increases in fuel cost

Attica Enterprises Groups net profit rose to Grd 8,240 mln for the 9 month period to 30th September 2000, versus Grd 7,908 mln for the same period last year. This years Atticas 9 month results include profit of Grd 212,3 mln of the Groups subsidiary Strintzis Lines S.A.

Total sales of the Group grew to Grd 52.7 bln generated from the revenues of Superfast Ferries (Grd 26 bln) and Blue Star Ferries (Grd 26.7 bln). Both companies of the Group showed a considerable increase in their carryings between January and September 2000. In particular, Superfast I, II, III and IV carried 537,200 passengers (an increase of 23%), 77,200 trucks (a decrease of 1%) and 101,700 private vehicles (an increase of 17%) in the Greece-Italy routes. Superfast Ferries ranked first in passengers and trucks in the Greece-Italy-Greece traffic by ferries with a market share of 24.8% and 24.1% respectively.

Strintzis ships operating in the Adriatic carried 338,750 passengers (an increase of 34% over the same period in 1999), 53,000 trucks (an increase of 17%) and 65,400 private cars (an increase of 22%) between January and September 2000, and ranked third in terms of market share. In the domestic market, the Blue Star fleet carried 1.6 mln passengers (an increase of 33%), 60,000 trucks (an increase of 28%) and 230,000 private cars (an increase of 56%). Above data do not include traffic between Corfu and the Italian ports in the Adriatic.

It should be noted that total depreciation expenses of the Group for the period January to September 2000, were Grd 3.1 bln, higher by Grd 430 mln. The sharp rise of the cost of fuel burdened the operating expenses of the Group by an additional amount of about Grd 6.5 bln as compared to the same period of last year.

The Group has placed orders for the building of eight new Superfast ferries (plus 2 on option) and four new Blue Star Ferries (plus 1 option) due for delivery in the coming two years till the middle of 2002.

Voula, 28th November, 2000

Ohe Board of Directors

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