In reference to newspapers articles relating to Minoan Lines eventual commitment to include the company Hellenic Seaways S.A in its financial statements, which are prepared according to International Financial Reporting Standards, as an affiliated company we would like to clarify that according to the article 42 e paragraph 5 quotation 3 of law 2190/1920 and the module 27 under I.F.R.S the terms and conditions for further consolidation of the subject company are not met.