Athena High Technology Incubator

Athina controls 100% of Athena High Technology Incubator Ltd.

Nicosia, Cyprus - April 29, 2005. Athina Cyprus Public Company Limited (Athina) announces that it signed an agreement on April 27, 2005 with the company Emergo Cyprus Limited (Emergo) for the repurchase of the 35% of the share capital of Athena High Technology Incubator Limited (AHTI), for Ł155.000. As result of the above transaction, Athina will possess now the 100% of the share capital of AHTI.

This agreement is not expected to have essential effect in the financial results and in the balance-sheet of Athina in the year 2005, other than the goodwill of Ł75.000 arising on the acquisition.

Athena High Technology Incubator Ltd. (AHTI) is an international for profit business incubator with focus on seed and early stage companies in Information & Communication Technologies (ICT). Through its infrastructure, provision of value added services, close ties with venture capitalists and partnerships with internationally acclaimed organizations, AHTI steers the tenant companies operationally and strategically so as to accelerate their development and drive them to sustained, profitable growth. For more information, please contact Svetlana Kalogera.