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ANNOUNCEMENT - AMENDMENT OF THE COMPANY LAW

ANNOUNCEMENT


22 December 2004


I would like to refer to my announcement of 26 October 2004 which with regard to the Financial Statements which will be filed with the Registrar of Companies together with the Annual Returns and I would like to clarify that the financial statements shall be accepted for filing if prepared in one of the official languages of the Republic of Cyprus.

In cases where the Financial Statements are presented to the Annual General Meeting of the company and are approved in a language other than the official languages, then the Registrar will accept for filing such Statements in the language that were approved together with a translation in one of the official languages accompanied by a duly sworn affidavit attesting that the said translated statements are a true copy of the Statements approved by the Annual General Meeting.


Stalo Papaioannou
Actg. Registrar of Companies
and Official Receiver

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