NEWS & ANNOUNCEMENTS

06/11/2000 - New ultramodern car-passenger ferries for the greek coastal service


The Board of Directors of Strintzis Lines S.A. is pleased to announce the signing of shipbuilding contracts with Daewoo Shipbuilding and Marine Engineering Co., Korea for the building of two monohull-type, high-tech, car-passenger ferries to be delivered in 2002. The same agreement provides for an option for a third ship of the same specifications.

All three new ships are designed to operate in the Greek domestic waters.

The new order complies with Strintzis’ investment plans as announced to the investment community at the recent capital increase of Grd 27.7bln (€ 81.5 m) of the company, which was successfully completed on 11th October, 2000.

Strintzis Lines - Blue Star Ferries has already taken delivery of three newbuildings this year. Dutch-built Blue Star 1 and Blue Star 2 trade with great success since the beginning of the second half of the year in the Greece – Italy routes and Daewoo-built Blue Star Ithaki delivered in June 2000, the first ever newly built monohull ferry for the domestic market, was among the best sellers of the season in the Greek coastal service.

In addition, the company is expecting the deliveries of Blue Star Chios and Blue Star Mykonos, currently under construction at the Hellenic Shipyards in Skaramanga, Greece.

In accordance with the terms of the operating licenses that the company has been recently awarded, the new ships of the Blue Star Ferries fleet shall play a pioneering role in the renewal of the Greek coastal ferry fleet and the upgrading of the domestic ferry services to the islands