18/09/2002 - STRINTZIS Group of companies debt refinancing

Τhe Board of Directors of Strintzis Lines Shipping S.A. is pleased to announce the successful debt refinancing of the Strintzis group of companies.

The new syndicated loan of € 170,000,000 arranged by Citibank N.A. and Alpha Bank S.A and co-arranged by Piraeus Bank S.A. and Landesbank Schleswig - Holstein Kiel was signed today on board Blue Star 1.

The participating banks of the syndication, in addition to the above mentioned ones, are:

Commercial Bank of Greece, National Bank of Greece, Credit Lyonnais, Fortis International Finance and Westdeutsche Landesbank AG.

Τhe new syndicated loan completes the reorganization of the Group’s capital structure, following the successful issuance of a convertible bond in June, 2002.

Voula, 18th September, 2002