Attica Group Turnover rises by 28.5% in the first half 2001. Market share increase of Superfast Ferries and Blue Star Ferries in the Adriatic.

Consolidated results for the first half 2001, show sales of Grd 32.3 bln, an increase by 28.5% over sales of Grd 25.2 bln during the same period of last year. Net profit after interest, depreciation and taxes stands at Grd 146.9 mln versus Grd 2,897 mln in the first half of 2000.

It should be noted that, the financial results of this year s first half include depreciation charges of Grd 3.4 bln versus Grd 2 bln for last year s first half and net financial expenses increased by over Grd 4 bln over the first half of 2000. The increased amount of depreciation and higher interest paid are due to the addition of new ships to Attica s fleet, namely, Blue Star 1, Blue Star 2 and Blue Star Ithaki at the beginning of the summer 2000, Superfast VI in mid-February 2001, Superfast V in mid-April 2001 and Superfast VII in mid-May 2001.

During the first half of 2001, in terms of carryings, Attica s Superfast ferries in the Greece - Italy routes carried 252,141 passengers ranking first with a market share of 32%, versus 239,685 passengers last year, a market share of 30%, 55,900 trucks, a market share of 27.2%, versus 53,100 trucks last year and a market share of 25% and 39,250 private vehicles, a market share of 24.8% versus 24.6% in the same period last year.

In the same period, Strintzis Lines, in which Attica Enterprises own 48.57% increased its market share in the Greece-Italy routes to 18.1% in passengers versus 12.6 last year, 18.4% in freight units versus 15.5% last year and 21% in private vehicles versus 12.9% in the same period of 2000.

In mid-May 2001, Superfast Ferries inaugurated their Baltic Sea services with the deployment of
Superfast VII in the direct service between Germany and Finland, joined by Superfast VIII on the same route on 16th July 2001.

In the domestic market, Strintzis Lines carried, during the first half of this year, 773,680 passengers versus 683,673 an increase of 13.2% compared to first half 2000 and 99,942 private vehicles and motorcycles versus 86,592 last year, an increase of 15.4%.

For next year, the Attica Group expects the delivery of eight more brand new ferries. Two of them, Superfast IX and Superfast X, will be delivered by Howaldtswerke Deutsche Werft AG and will join Superfast VII and Superfast VIII in the Baltic trade introducing a new route between Sweden and Germany, namely between Rostock and Sodertalje, in the Stockholm area. Two more Superfast ferries, Superfast XI and Superfast XII are being built at Flender Werft, Lubeck, Germany and are due for delivery in the first half of 2002. A two-ship service is also due to start next year in May between Rosyth in Scotland and Zeebrugge in Belgium, connecting Scotland to mainland Europe in a direct and fast daily overnight service.

Four more ferries ordered by Strintzis Lines, all designed for the domestic market are due for delivery in the course of 2002. Two are under construction at Daewoo Shipyards in Eirea and two at Hellenic Shipyards of Skaramanga.

Voula, 30th August, 2001

The Board of Directors

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