Announcement concerning the decisions of the Annual General Meeting of shareholders of “KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A.” on 30 June 2006 as per article 278 § 1 & 2 of the Athens Exchange Rulebook.

Dear Sirs,

We inform you that the Annual General Meeting of the Shareholders held on 30 June 2006, attended by 11 shareholders representing 11.326.595 shares, decided upon the following issues of the daily agenda:

ISSUES OF THE DAILY AGENDA

1. Submission and hearing of the Board of Directors’ and the Certified Public Accountant’s reports on the financial statements of the company and the Group for the year 01 January – 31 December, 2005

2. Submission and approval of the financial statements of the company and the Group for the year 01 January – 31 December, 2005 together with the Board of Directors’ and the Certified Public Accountant’s reports.

3. Decision on the reserves created from the re-valuation of real estate of Law 2065/1992.

4. Release of the members of the B.o.D. and the Certified Public Accountant from any responsibility for compensation arising from the annual financial statements and the management of the company in general for the year 01 January – 31 December, 2005

5. Election of Certified Public Accountants (regular and substitute) for the year 01 January – 31 December, 2006 and determination of their fees.

6. Approval for the payment of a dividend to the shareholders.

7. Approval of the already paid and determination of the payable fees and expenses of the executive officers and members of the B.o.D.

DECISIONS

1 + 2) The financial statements for the year 01 January – 31 December 2005 as well as the Board of Directors’ and the Certified Public Accountant’s reports were approved by 74,56% of shares (that is 11.326.595 shares out of total 15.190.320) which constitute 100% of the shares at the General Meeting.

3) Decision on the reserves created from the re-valuation of real estate of Law 2065/1992.

Pursuant to Law 2065/1992 the Company has to capitalize its reserves created from the re-valuation of its real estate on 31 December 2004 of € 32.561,58. This amount appeared on the financial statements as at 31 December 2004 prepared under the Greek accounting plan as “Re-valuation Differences”. Nevertheless on the financial statements as at 31 December 2005, which were prepared under the I.F.R.S., there was no such item as well as on the financial statements as at 31 December 2004, as it was prepared under the  I.F.R.S. Thus, the Annual General Meeting made no decision on the matter until the issue is clarified by the Competent Authorities.

4) The members of the B.o.D. and the Certified Public Accountant were released from the responsibility for any compensation arising from the financial statements and the management of the company in general for 2005 by 74,56% of shares (that is 11.326.595 shares out of total 15.190.320) which constitute 100% of the shares at the General Meeting.

5) The Certified Public Accountants for the year 01 January – 31 December 2006 were elected  by 74,56% of shares (that is 11.326.595 shares out of total 15.190.320) which constitute 100% of the shares at the General Meeting. Thus, the auditing firm is “SOL S.A.” (Reg. N. SOEL 125). Regular Certified Public Accountant is Mr. Meletios Siastathis son of Dimitrios (Reg. N. SOEL 12181) and substitute Mr. Charalampos Stathakis son of Spiridon (Reg. N. SOEL 12251).

6) The dividend payment of € 531.661,20 which equals to 0,035 dividend per share  was approved by 74,56% of shares (that is 11.326.595 shares out of total 15.190.320) which constitute 100% of the shares at the General Meeting. As a result the distribution of net profit of the company for the year 01 January – 31 December, 2005 is as follows:

The General Meeting decided, by the same majority, that the beneficiaries of the dividend for the year 2005 are all shareholders at the end of the trading session of Athens Exchange on Friday, 18 August 2006 . The ex-dividend date will be on 21 August 2006 . Thus, the shares will be traded on Athens Exchange from Monday 21 August 2006 with no right to dividend of 2005. The dividend payment will commence on 29 August 2006 and will expire on 31 December 2006 . The dividend payment will be made through PIRAEUS BANK S.A.

7) The already paid as well as the payable fees and expenses of Certified Public Accountants and members of the B.o.D. were approved by 74,56% of shares (that is 11.326.595 shares out of total 15.190.320) which constitute 100% of the shares at the General Meeting.

Athens, 30 June 2006