LAMPSA HOTEL CO.

Announcement

The company Lampsa Hellenic Hotels SA announces that today, Friday the 10th of March 2006 a contract was signed with EFG EUROBANK ERGASIAS SA for the issue of common bond loan for twelve years and for the amount of euros 30 millions, after the approval of the extraordinary general assembly of the company at the 13th of January 2006. The Board of the Directors negotiated special terms of loan with EFG EUROBANK ERGASIAS SA for the re-financing of the company's loan obligations, resulting to the further substantial improvement of the financial results due to the decrease of the financial cost. To be noted that , after company's capital increase of euros 45 millions in the year 2004 (amount that was used for bank loans and other obligations pay back), the company's loan obligations on December 31st 2005 resulted in euros 30 millions compared to those on December 31st 2003 that resulted in euros 71,5 millions. Also, the company announces that the sales turnover for the year 2005 amounted euros 31 millions compared to the euros 30,5 millions of the previous year, surpassing in that way the contribution of the Olympic Games 2004 and achieving in 2005 a raise of the yearly hotel occupancy to 67,4% compared to the 53,6% occupancy of the previous year. To be also noted, that the company's cash in hand is above 12 millions euros, amount which will be used for investing actions and for further company development.