Consolidated turnover reached euro 31.768 million against euro 25.197 million in the corresponding 2003 period. Turnover posted a 26.1% increase, boosted by the performance of the local cash and derivatives market. Operational cost has been reduced by a further 9.9%, while, if depreciation is included, the reduction amounts to 12.9%. Thus the EBITDA figure, positively affected by improvement in turnover, along with successful efforts for cost containment, amounted to euro 17.724 million, versus euro 9.917 million, an increase of 78.7%.

The Group's results are significantly reinforced from trading gains, stemming from selling treasury stock, of euro 9.2 million. At the same time, results are also positively affected by an extraordinary income of euro 4.4 million, derived from unutilised provisions for the devaluation of the Group's share portfolio.

The holding company income from holdings in subsidiary companies and trading gains amounts to euro 23.690 million, compared to euro 11.411 million for 2003. This amount includes ½ quota of 2003 dividend for the first half of the current year, as well as the aforementioned euro 9.2 million trading gain from treasury stock. The net profit before taxes amounts to euro 26.781 million, versus euro 10.767 million during 2003, an increase by 148.7%. It is noted that following these positive results, all holding company losses, incurred during previous periods, are written off.

Hereunder please find attached a brief table of the first half 2004 HELEX Group consolidated balance sheet:

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The Group has accepted in principle the procedure that will be followed, which includes the carrying out of legal and financial due diligence by independent legal and audit firms to be appointed by the prospective buyers.

On completion of the due diligence process the prospective buyers will submit a final offer, the terms of which will be reviewed by the Group in order to reach its final decision as to whether to accept the offer.

The turnover of Hyatt Regency Hotels and Tourism (Hellas) SA for the first six months of 2004 increased by 2,15% and amounts to 89,5 Million Euro, compared to 87,6 Million Euro in 2003. The EBITDA for the first six months of 2004 amounts to 35,8 Million Euro, showing an increase of 2,63 % in comparison with the respective period of 2003, while EBITDA margin amount is 40,1%. The net pretax profits of the company for the first six months of 2004 amount to 29,3 Million Euro compared to 30,1 Million Euro in 2003.

The consolidated results of the Group include the company styled "Hellenic Casino Mont Parnes SA" (full consolidation), the turnover of which amounts to 61,7 Million Euro for the first six months of 2004 (1.1.2004 - 30.6.2004). Table games had a 28,4 Million Euro turnover (61,9% increase over the same period of last year), whilst slot machines had a 32,3 Million Euro turnover (a 47,7% increase over last year). Respectively, visitation to the Regency Casino Mont Parnes for the first six months of 2004 had an increase of 47,5% (330.000 persons) over the same period of 2003. It should be noted that the visitation for the whole year of 2003 stood at 470.000 persons. Finally, the first phase of the refurbishment of the Mont Parnes complex has been completed. In the coming months and following approvals and licenses the full refurbishment of the complex will take place.

Ιn the consolidated results of the first six months of 2004, the company "Hellenic Hotels Lampsa SA" is also included. Lampsa's results were consolidated for the first time in 31.12.2003 (equity method).

Following a recent share capital increase of Lampsa, Hyatt Regency Hotels and Tourism (Hellas) SA controls 20,1% of its share capital. Lampsa's turnover for the first six months of 2004 amounts to 12 Million Euro, EBITDA is 0,82 Million Euro and losses for this period of 2,4 Million Euro. As a result of the above, the Group's consolidated balance sheet includes a loss of 0,48 Million Euro. According to the Board of Directors of Lampsa, the year 2004 is expected to be the first profitable financial year for the company, following a long track record of losses. This is due to the successful renovation of the Grande Bretagne Hotel as well as the operational results of the Hotel and the recent successful share capital increase, which was covered in full, reducing Lampsa's banking debt by 60%.

On 31.12.2003, decision No.K2-15897/16.12.2003 of the Deputy-Minister of Development was registered in the Register of Societes Annonymes of the Eastern Attica Section of the Prefecture of Athens, according to which, the merger of the companies HERACLES GENERAL CEMENT CO.S.A. with register No.13576/B/86/96 and HERACLES TRANSPORT S.A. with register No.45175/01AT/B/0045 was approved with absorption of the second company by the first, according to decisions dated 30.7.2003 and 23.9.2003 of the Board of Directors of the absorbing Societe Anonyme, decisions dated 30.7.2003 and 23.9.2003 of the Board of Directors of the absorbed Societe Anonyme, clauses of article 78 of the Communal Law 2190/1920, articles 1-5 of L.2166/1993 and deed No.10844/8.12.2003 of the Athens Notary Public, Theoni Kafiri-Athanassiou.
Following all the above, the company under the name HERACLES TRANSPORT S.A., was written off the Register of Societes Anonymes of the Eastern Attica Section of Athens of the Athens Prefecture.