Announcement to the investing public.

Α. The company re-prepared its interim financial statements for the period 1/1-31/3/2006 published on 31/5/2006, in order to provide further information to the public. The above changes did not affect the company’s financial figures. The new interim financial statements for the period 1/1-31/3/2006 are available at the company’s website at www.kiriacoulis.com.

Β. Notes 2 and 8, included in the figures and information for the period 1/1-31/3/2006 published on 31/5/2006 , are replaced as follows:

2. The 100% investments of the subsidiary KIRIACOULIS MARITIME HOLDING S.A. (indirect equity interest of 100% in the following shipping companies of law 959/79 with registered offices in Greece), 1) TRITON LINES SHIPPING COMPANY former NEARCHOS M. SHIPPING COMPANY, 2) AMFITRITI SHIPPING COMPANY, 3) AMFITRITI I SHIPPING COMPANY, 4) AMFITRITI II SHIPPING COMPANY, 5) AMFITRITI III SHIPPING COMPANY, 6) SAMOS FLYING LINES SHIPPING COMPANY, 7) NIREAS LINES SHIPPING COMPANY former SAMOS SEA LINES SHIPPING COMPANY, 8) PATMOS SEA LINES SHIPPING COMPANY, were not consolidated as they were fully impaired, they are in the process of dissolution and moreover they do not affect the financial statements of the Group (IAS1).
It is also noted that:
a) the company ΚIRIAKULIS D.O.O (Croatia), 70% direct equity interest, which was consolidated in the period 1/1-31/3/2006, is not included in the comparable financial figures for the corresponding period 1/1- 31/3/2005, as the company was inactive, whereas it was consolidated in the financial statements for the period 1/1-31/12/2005 and 1/1-31/03/2006 as it begun its operations (IAS1).
b) the company SCI DU DONATOR (France), 70% indirect equity interest, which was consolidated in the financial statements of the period 1/1-31/3/2006, was not included in the comparable financial figures for the corresponding period 1/1- 31/3/2005, as the company was inactive, whereas it was consolidated in the financial statements for the period 1/1-31/12/2005 and 1/1-31/03/2006 as it begun its operations (IAS1).
c) OFFSHORE ESCAPE LTD. (Greece), 60% direct equity interest, was not consolidated in the financial statements of the period 1/1-31/3/2006 due to the sale of the shares held by the parent company as per 8.816/7/4/2005 notary deed. Similarly, the company KIRIACOULIS MARITIME S.S. LTD. (Greece), 100% indirect equity interest was also not consolidated in the financial statements of the period 1/1-31/3/2006 due to the sale of the shares held as per 9.618/30/12/2005 notary deed. Both companies were consolidated (full consolidation method) in the financial statements for the period 1/1/2005- 31/03/2005.
d) the associate EUROPE YACHTS MARITIME LTD., 49% indirect equity interest, was not consolidated due to the sale of the shares held as per 8.863/21/4/2005 notary deed. The company was consolidated using the equity method in the financial statements for the period 1/1-31/3/2005
e) ATTICA MARINAS CONSORTIUM, 25% direct equity interest, did not prepare any financial statements as it is in the process of dissolution and moreover it does not affect the financial statements of the Group (IAS1).

8. The accumulated sales and purchases of the Company to and from related parties as defined in IAS 24, for the period 1/1-31/3/2006 amount to:
Sales: € 7.316 and purchases: € 2.883.723
The outstanding balances of the receivables and liabilities of the Company from and to related parties as defined in IAS 24 at the end of the period 1/1-31/3/2006 amount to:
receivables: € 1.539.410 and liabilities : € 238.369
The accumulated sales and purchases of the Group to and from related parties as defined in IAS 24, for the period 1/1-31/3/2006 amount to:
Sales: € 48.923 and purchases: € 43.946.
The outstanding balances of the receivables and liabilities of the Group from and to related parties as defined in IAS 24 at the end of the period 1/1-31/3/2006 amount to:
receivables: € 267.719 and liabilities: € 357.789.

Athens 19 June 2006