Attica Holdings S.A.

Quarterly Report • Oct 1, 2015

Profit/(loss) after taxes

		COMPANY INFORMATION		(Amounts in thousand €)			CASH FLOW STATEMENT FOR THE FISCAL YEAR
Domicile:	157, C. Karamanli Avenue - 16673 Voula , Greece						GROUP		COMPANY
Registration Number:	7702/06/B/86/128						1/1-31/12/2007 1/1-31/12/2006			1/1-31/12/2007 1/1-31/12/2006
Pertinent Supervising Authority:	Ministry of Development					Cash flow from Operating Activities
Board of Directors:				Charalambos S.Paschalis - Chairman, Non-Executive Member, Andreas Vgenopoulos - Vice-Chairman, Non-Executive Member, Petros M.Vettas
				- Managing Director, Executive Member, Michael G.Sakelis - Executive Member, Spiros Ch.Paschalis - Executive Member,		Profit/(Loss) Before Taxes	62,092	39,371	60,979	20,947
				Markos Foros - Non-Executive Member, Areti Souvatzoglou - Non-Executive Member, Theofilos-Aristeidis Priovolos - Independent, Non
	Executive Member, Alexandros Edipidis - Independent, Non-Executive Member
Date of Board of Directors approval of annual financial
statements:	21/03/2008					Adjustments for:
Certified Public Accountant:	Athos Stylianou - SOEL No 12311					Depreciation	27,152	29,931	13	11
Audit Firm:	DRM STYLIANOU S.A. - member firm of RSM International					Deferred tax expense	(72)	(22)	-	-
Type of auditor's opinion:	Unqualified					Provisions	1,832	919	483	906
Internet Domain:	www.attica-group.com					Foreign exchange differences	2,750	(352)	(22)	-
		BALANCE SHEET				Net (profit)/loss from investing activities	(47,478)	(23,632)	(64,288)	(25,047)
						Interest and other financial expenses	23,635	26,261	1,449	1,988
		GROUP		COMPANY		Plus or minus for Working Capital changes:
ASSETS		31/12/2007	31/12/2006	31/12/2007	31/12/2006	Decrease/(increase) in Inventories	(439)	404	-	-
Non-current assets		698,017	757,283	396,165	421,724	Decrease/(increase) in Receivables	872	5,246	430	217
Inventories		4,228	3,790	-	-	(Decrease)/increase in Payables (excluding banks)	(106)	(14,601)	(772)	(28)
Trade receivables and prepayments		52,114	55,983	-	-	Less:
Other current assets		223,194	218,506	77,592	15,032	Interest and other financial expenses paid	(22,704)	(26,511)	(1,851)	(1,887)
Total assets		977,553	1,035,562	473,757	436,756	Taxes paid	(418)	(2,031)	-	(1,440)
EQUITY AND LIABILITIES						Total cash inflow/(outflow) from operating activities (a)	47,116	34,983	(3,579)	(4,333)
Non-current liabilities		361,754	401,550	343	321
Short-term bank liabilities		63,530	138,755	-	34,931	Cash flow from Investing Activities
Other short-term liabilities Total liabilities (a)		46,124 471,408	40,856 581,161	328 671	642 35,894	Acquisition of subsidiaries, associated companies, joint ventures and other investments	(30,338)	(8,089)	(39,338)	(8,089)
Share capital		62,504	62,504	62,504	62,504	Purchase of tangible and intangible assets	(34,548)	(24,429)	(5)	(8)
Reserves and retained earnings		326,614	281,790	410,582	338,358	Proceeds from sale of tangible and intangible assets	207,776	329,146	112,460	75,925
Total shareholders equity (b)		389,118	344,294	473,086	400,862	Interest received	6,046	3,263	2,195	829
						Dividends received	23	28	34,522	17,151
Minority interests in subsidiaries (c)		117,027	110,107	-	-	Total cash inflow/(outflow) from investing activities (b)	148,959	299,919	109,834	85,808
Total equity (d)=(b)+(c)		506,145	454,401	473,086	400,862
Total equity and liabilities (e)=(a)+(d)		977,553	1,035,562	473,757	436,756	Cash flow from Financing Activities
						Proceeds from issuance of Share Capital	-	-	-	-
		INCOME STATEMENT FOR THE FISCAL YEAR				Proceeds from Borrowings	22,800	9,895	-	-
		GROUP		COMPANY		Payments of Borrowings	(138,755)	(256,701)	(34,931)	-
		1/1-31/12/2007 1/1-31/12/2006		1/1-31/12/2007 1/1-31/12/2006		Payments of finance lease liabilities	(523)	(604)	-	-
Total Revenue		316,313	326,597	-	-	Dividends paid	(13,173)	(12,097)	(8,334)	(8,334)
Gross Profit/(loss)		94,661	95,380	-	-	Equity return to shareholders	-	(62,504)	-	(62,504)
Earnings before taxes, investing and financial
results, depreciation and amortization		69,580	71,534	(1,551)	(1,224)	Total cash inflow/(outflow) from financing activities (c)	(129,651)	(322,011)	(43,265)	(70,838)
						Net increase/(decrease) in cash and cash equivalents
Earnings before taxes, investing and financial results		42,428	41,603	(1,564)	(1,235)	(a)+(b)+(c)	66,424	12,891	62,990	10,637
Total profit/(loss) before taxes		62,092	39,371	60,979	20,947
Less taxes		390	1,942	43	1,349	Cash and cash equivalents at beginning of period	105,449	92,558	13,888	3,251
Total Profit/(loss) after taxes		61,702	37,429	60,936	19,598	Cash and cash equivalents at end of period	171,873	105,449	76,878	13,888
Attributable as follows:
Company shareholders		50,718	26,285	60,936	19,598
Minority shareholders		10,984	11,144	-	-		STATEMENT OF CHANGES IN EQUITY
Earnings after taxes Per Share - basic (in €)		0.49	0.25	0.58	0.19		GROUP		COMPANY
Proposed dividend payable per share (in €)		-	-	0.08	0.08	Equity Opening Balance (1/1/2007 and 1/1/2006)	31/12/2007	31/12/2006	31/12/2007	31/12/2006
						Profit/(loss) for the period, after taxes	454,401 61,702	491,806 37,429	400,862 60,936	179,988 19,598
							516,103	529,235	461,798	199,586
						Increase/(decrease) of share capital	-	(62,504)	-	(62,504)
						Dividends paid	(13,173)	(12,097)	(8,334)	(8,334)
						Net income charged directly to equity	3,215	(233)	19,622	272,114
						Purchase/(Sale) of treasury stock	-	-	-	-
						Equity Closing Balance (31/12/2007 and 31/12/2006)	506,145	454,401	473,086	400,862
NOTES :

	(Amounts in thousand €)
	1/1-31/12/2007	1/1-31/12/2006
Revenue	0	18,060
Earnings before taxes, investing and financial	0	(2,986)
results, depreciation and amortization	0	5,344
Profit/(loss) before taxes	0	5,115

''Travel agency services'' € 2.016 thousand. 6. The total revenue of the financial statements of the Group belongs to the following business activity categories: ''Sea and coastal transportation'' € 279.677 thousand, ''Restaurants on board'' € 9.945 thousand, ''Bars on board'' € 17.145 thousand, ''Casino on board'' € 5.022 thousand, ''Shops on board'' € 2.508 thousand,

Company Name	Registered in	Participation Percentage	Method of Consolidation	Nature of Relationship	Unaudited Fiscal Years	Company Name	Registered in	Participation Percentage	Method of Consolidation	Nature of Relationship	Unaudited Fiscal Years
ATTICA HOLDINGS S.A.	Greece	Parent			2007	SUPERFAST EXI INC.	Liberia	100%	Full	Indirect	2007
SUPERFAST FERRIES MARITIME S.A.	Greece	100%	Full	Direct	2007	SUPERFAST ENDEKA INC.	Liberia	100%	Full	Indirect	2007
SUPERFAST EPTA MC.	Greece	100%	Full	Direct	2007	SUPERFAST DODEKA INC.	Liberia	100%	Full	Indirect	2007
SUPERFAST OKTO MC.	Greece	100%	Full	Direct	2007	BLUE STAR MARITIME S.A.	Greece	48.795%	Full	Direct	2006-2007
SUPERFAST ENNEA MC.	Greece	100%	Full	Direct	2007	BLUE STAR FERRIES MARITIME S.A.	Greece	48.795%	Full	Indirect	2006-2007
SUPERFAST DEKA MC.	Greece	100%	Full	Direct	2007	BLUE STAR FERRIES JOINT VENTURE	Greece	-	Full	Under common management	2006-2007
NORDIA MC.	Greece	100%	Full	Direct	2007	BLUE STAR FERRIES S.A.	Liberia	48.795%	Full	Indirect	2006-2007
MARIN MC.	Greece	100%	Full	Direct	2007	WATERFRONT NAVIGATION COMPANY	Liberia	48.795%	Full	Indirect	-
SUPERFAST DODEKA (HELLAS) INC. & CO JOINT VENTURE	Greece	-	Full	Under common management	2007	THELMO MARINE S.A.	Liberia	48.795%	Full	Indirect	-
ATTICA CHALLENGE LTD.	Malta	100%	Full	Direct	-	BLUE ISLAND SHIPPING INC.	Panama	48.795%	Full	Indirect	-
ATTICA SHIELD LTD.	Malta	100%	Full	Direct	-	STRINTZIS LINES SHIPPING LTD.	Cyprus	48.795%	Full	Indirect	2006-2007
SUPERFAST FERRIES S.A.	Liberia	100%	Full	Indirect	2007	ATTICA PREMIUM S.A.	Greece	100%	Full	Direct	2006-2007
SUPERFAST PENTE INC.	Liberia	100%	Full	Indirect	2007

7. The vessels owned by the Group have been mortgaged as security of long term borrowings for the amount of Euro 682 mln. There are no liens and encumbrances for the Company. 8. Superfast Group has made a provision amounting € 463 thousand which concerns claim for compensation from the crew that was employed on board the vessels previously deployed in the Baltic Sea. The case is under litigation. The 48,795% subsidiary Blue Star Maritime S.A. has made a provision amounting

4. According to a Board of Directors decision the Group changed its accounting policy regarding the investments in subsidiaries and decided to recognize them at fair value instead of cost. Consequently, the investments in subsidiaries and the total shareholders equity of the parent company only, have increased by € 282.286 thousand for the fiscal year 2007 and € 272.224 thousand for the fiscal year 2006. From the above change in accounting policy, there is no change in the consolidated accounts of the Group. The analysis of the effect from this change in the accounting policy is presented in paragraphs 2, 5.36 and 5.36.1 of the

9. Amounts concerning sales and purchases, cumulatively, from the beginning of the current period and the outstanding balances of receivables and payables of the parent Company and the Group at the end of the current period, arising from transactions with related parties in accordance with IAS 24, are as follows: (Amounts in thousand €)

notes to the annual financial statements.

€ 550 thousand which concerns a claim for compensation from the Buyer of the vessel Blue Aegean. The case is in arbitration.

From this change there is no effect to the Group's results. Due to the completion of liquidation procedures of the subsidiary companies SUPERFAST ENA INC., SUPERFAST DIO INC., SUPERFAST TRIA INC., SUPERFAST TESSERA INC., SUPERFAST EPTA INC., SUPERFAST OKTO INC., SUPERFAST ENNEA INC., SUPERFAST DEKA INC. those are not anymore consolidated in the Group.

The newly founded 100% subsidiary companies ATTICA CHALLENGE LTD and ATTICA SHIELD LTD are consolidated for the first time in September 2007, with the full consolidation method. In October 2007 they took delivery of the newly acquired M/V Challenge and M/V Shield respectively.

		(Amounts in thousand €)
	Group	Company
a) Sales of goods and services	4,221	0
b) Purchases of goods and services	1,051	4
c) Receivables	320	0
d) Payables	121	0
e) Transactions and Board of Directors and Executive Directors' Fees	2,492	346
f) Receivables from Board of Directors and Executive Directors	0	0
g) Payables to Board of Directors and Executive Directors	0	0
h) Dividend received	0	34,498
i) Dividend paid	0	0
10. Earnings per share were calculated using the weighted average method.
11. There are no any overdue liabilities, or liabilities that are about to become due, that cannot be paid.
12. Within the first quarter of 2007, the Group sold the vessel SUPERFAST X for € 112 mln. The profit from this transaction amounting € 12,5 mln. was posted in the income statement.
			13. From January 29, 2007 the vessel Blue Star 1 of the indirect subsidiary company BLUE STAR FERRIES MARITIME S.A. has been redeployed from Patras – Igoumenitsa – Bari route to Rosyth – Zeebrugge route in the North Sea.
14. Τhe Group has chartered: a) out from 29/11/2006 the RoRo Nordia to the French company Fret Cetam, with daily hire € 11 thousand, b) out from 22/10/2007 the RoRo Challenge to the company Seatruck Ferries LTD with daily hire € 14.425, c) out from 22/10/2007 the RoRo Shield to the company Norfolk Lines with daily hire € 9.650. The RoRo Marin from 10/02/2007 has been redeployed from the Baltic Sea in the Adriatic Sea.
			15. From the second quarter of 2007, MINOAN LINES SHIPPING S.A., which has been consolidated for the first time in the first quarter of 2007, using the equity method, is not anymore consolidated in the Group due to the sale of the participation. The profit from the sale stood at € 27.670 thousand approximately.
16. In July 2007, the parent company paid the amount of € 35 mln approximately as full repayment of its short-term borrowings.
			17. The financial statements of Attica Holdings S.A. are included, directly, in the consolidated financial statements of MARFIN INVESTMENT GROUP HOLDINGS S.A. which is registered in Greece and whose total participation in the Group (directly & indirectly), on February 28, 2008, was 89,14%.
			18. On 26th February 2008, the Board of Directors of the company has decided to merge by absorption the Athens Exchange listed 48,795% subsidiary company Blue Star Maritime S.A. The Transformation Balance Sheet date will be no longer than 30th June, 2008.
			19. Until the date of Board of Directors approval of annual financial statements, the Group sold its RoRo vessels Marin, Challenge and Shield. The sale proceeds generated for the Group profit of approximately € 6,3 mln and additional cash of approximately € 17,2 mln.
20. On 7th March 2008, Attica Group has contracted to sell its RoRo vessel Nordia. The delivery of the vessel will take place in April 2008.
			Voula, March 20, 2008
MANAGING DIRECTOR			DIRECTOR	FINANCIAL DIRECTOR
PETROS M. VETTAS			SPIROS CH. PASCHALIS	NIKOLAOS I. TAPIRIS

3. The accounting principles are the same as those used on 31/12/2006, except from the note 4 below.

5. The number of employees, at period end, was 8 for the parent company and 1.274 for the Group, while at 31/12/2006 was 9 and 1.288 respectively.

For the Group's subsidiaries registered outside the European Union, which do not have an establishment in Greece, there is no obligation for taxation audit.

1. The companies which have been consolidated in the Financial Statements of 31.12.2007, can be found in the following table with the respective participation percentages:

	CHCHC
Quality Shipping Transportation Leisure Group

Concise Consolidated and Company Information for the period from January 1 to December 31, 2007 (published according to Article 135 of Law 2190, for companies which prepare annual financial statements, consolidated or not, according to I.F.R.S.)

The following information provide a general overview of the financial position and financial results of ATTICA HOLDINGS S.A.

2. The Income Statement of the Group includes amounts which refer to "Discontinued Operations" for the fiscal year 2006 which are as follows: