Notos Com management made reference to the agreement signed recently with the Israeli Community of Thessaloniki for the long term lease of property owned by them in the center of the city, on which a new 10.000 sq.m department store will be constructed. It is estimated that the store will be operating by the end of the first half of 2008. The rapid growth in turnover of the Home Store was discussed, with 40% higher turnover in the second year of operation, a percentage increase that is being sustained this current year. Moreover, the participation in the wedding lists market is increasing with the target at 4,000 lists for this year compared to 2,500 achieved in 2004. Finally, company plans to expand the department store business through the opening of smaller such stores in smaller cities around the country was reported. Already two such stores are about to open in the cities of Larissa and Kalamata, sized at 1,000-1,500 sq.m. each. Management placed particular emphasis on expansion in markets outside Greece as a matter of strategic importance. This will be achieved by way of expanding the retail network at a rate of 8-10 shops per year, moving into wholesale where and when conditions are ripe and lastly through the introduction of new brands in countries where a presence has already been established. Turnover generated outside Greece was growing at 25% in 2005, while the target is to double the level of sales from 15 mln euro to 30mln euro by 2008. In the same framework, the recent acquisitions of majority stakes in local exclusive distributors of the GANT brand for Croatia and Turkey was also mentioned. Notos Com management referred to the recent participation in the IPO of Gant Company AB which was listed on the Stockholm Stock Exchange. With an aim to further tightening relations with one of its major suppliers, a company whose brand is one of the fastest growing internationally, Notos Com was registered for shares representing 2.06% of Gant's share capital against a cash amount of around 4.9 mln euro. Finally, Notos Com management went on to present the financial developments in 2005. At the end of the 2005 FY and on IFRS, turnover reached 276.89 mln euro, versus 258.62 mln euro in 2004, a growth of 7.06%. EBITDA reached 44.69 mln euro against 41.69 εκατ. the previous year an increase of 7.20%. EBIT at the end of 2005 was 34.95 mln euro, up 15.54% from 30.25 mln euro while EBT closed at 32.10 mln euro v. 27,07 mln euro in 2004, i.e. higher by 18.58%. With respect to the current year, turnover is projected to increase by around 8%. It was noted that on October 31st, 2005, the subsidiary ΑΙΑΚΟS which was operating the Notos Galleries Home Department Store, was merged into Notos Com, as a result of which the number of shares was increased by 2.3 mln shares, the total number of which is now 71.08 mln.