THEMELIODOMITHEMELIODOMIGROUP OF COMPANIESGROUP OF COMPANIES

Canada, January Canada, January 20020055

DevelopmentDevelopment, , QualityQuality, , PerspectivePerspective, , ReliabilityReliability

THEMELIODOMITHEMELIODOMIGROUP OF COMPANIESGROUP OF COMPANIES

Canada, January Canada, January 20020055

DevelopmentDevelopment, , QualityQuality, , PerspectivePerspective, , ReliabilityReliability

THEMELIODOMITHEMELIODOMI

Established 1976 - Headquarters in Thessaloniki, Greece

Activities in constructions, real estate, energy, tourism and parking lots

Active in Balkan market since 1997

Highest-class certificate for construction of public works since 1980

Member of the European Federation of Foundation Contractors (E.F.F.C.)

Listed in the A.S.E. since 1993

ISO 9001-2000 TUV

Corporate Governance

Internal Audit procedures

Investor Relations Office

IAS as of January 2005

Established 1976 - Headquarters in Thessaloniki, Greece

Activities in constructions, real estate, energy, tourism and parking lots

Active in Balkan market since 1997

Highest-class certificate for construction of public works since 1980

Member of the European Federation of Foundation Contractors (E.F.F.C.)

Listed in the A.S.E. since 1993

ISO 9001-2000 TUV

Corporate Governance

Internal Audit procedures

Investor Relations Office

IAS as of January 2005

THEMELIODOMITHEMELIODOMI

DEVELOPMENTDEVELOPMENT

Real EstateReal Estate

INTERNATIONALINTERNATIONAL

BalkansBalkans

TurkeyTurkey

GermanyGermany

BUSINESS SECTORSBUSINESS SECTORS

CONSTRUCTIONCONSTRUCTION

General ProjectsGeneral Projects

Geoconstructions– Special

Foundation Work

Geoconstructions– Special

Foundation Work

ENERGYENERGY

IndustryIndustry

ProductionProductionTourismTourism

Parking LotsParking Lots

ΕnvironmentalProtection Projects

ΕnvironmentalProtection Projects

Marine and Port Engineering Work

Marine and Port Engineering Work

THEMELIODOMITHEMELIODOMI

Smaller annual sector growth, however rate 5.9% until 2012*

From 17,5 bEuros in 2003 to 31 bEuros in 2012 of construction market*

3th Community Support Framework: 80% (appr 6,5 bEuros)

4th Community Support Framework: not started yet (appr 20 bEuros)

Indicative important projects to come

- Six (6) Motorway concession projects (4 bEuros)

- Thessaloniki Immersed Tunnel Concession (400 mEuros)

- Thessaloniki Metro (800 mEuros)

- Thessaloniki International Airport (250 mEuros)

- Ministry of Public Works announced new projects for the year 2005

2.5 bEuros

Hudge needs of infrastructure projects outside Athens

Geographical Expansion (Balkans, Middle East)

Strong construction groups, experience, know-how, modern equipment

* source (2004) : Global insight

Smaller annual sector growth, however rate 5.9% until 2012*

From 17,5 bEuros in 2003 to 31 bEuros in 2012 of construction market*

3th Community Support Framework: 80% (appr 6,5 bEuros)

4th Community Support Framework: not started yet (appr 20 bEuros)

Indicative important projects to come

- Six (6) Motorway concession projects (4 bEuros)

- Thessaloniki Immersed Tunnel Concession (400 mEuros)

- Thessaloniki Metro (800 mEuros)

- Thessaloniki International Airport (250 mEuros)

- Ministry of Public Works announced new projects for the year 2005

2.5 bEuros

Hudge needs of infrastructure projects outside Athens

Geographical Expansion (Balkans, Middle East)

Strong construction groups, experience, know-how, modern equipment

* source (2004) : Global insight

Constructions in Greece

Constructions in Greece

THEMELIODOMITHEMELIODOMI

Constructions sector

Constructions sector

7th, 6th, 4th class contractors degree (participation in all types) Specialized in Geoconstructions - Environmental - Marine and Port projects Today’s Backlog exceeds 240 mEuros Already prequalified for

- 3 Motorway concession projects (2,3 bEuros) - Thessaloniki Immersed Tunnel Concession (400 mEuros)

Participating in - Thessaloniki Metro (800 mEuros) Important projects executed - NATO projects - Calatrava Olympic Stadium Cover - Olympic Village & Media Village - Athens Metro & TRAM - Athens International Airport main building - Wastewater treatment plants in Athens, Thessaloniki

7th, 6th, 4th class contractors degree (participation in all types) Specialized in Geoconstructions - Environmental - Marine and Port projects Today’s Backlog exceeds 240 mEuros Already prequalified for

- 3 Motorway concession projects (2,3 bEuros) - Thessaloniki Immersed Tunnel Concession (400 mEuros)

Participating in - Thessaloniki Metro (800 mEuros) Important projects executed - NATO projects - Calatrava Olympic Stadium Cover - Olympic Village & Media Village - Athens Metro & TRAM - Athens International Airport main building - Wastewater treatment plants in Athens, Thessaloniki

THEMELIODOMITHEMELIODOMI

Development in GreeceDevelopment in Greece

Parking Lots Management 20,000 parking spaces program for Athens & Thessaloniki of Ministry PW Smaller municipality programs all over Greece Car ownership increases rapidly, immergency for new parkings Market fragmented in Greece, necessity to finance and operate

* Source (2004): Global Insight

Parking Lots Management 20,000 parking spaces program for Athens & Thessaloniki of Ministry PW Smaller municipality programs all over Greece Car ownership increases rapidly, immergency for new parkings Market fragmented in Greece, necessity to finance and operate

* Source (2004): Global Insight

Real Estate Smaller annual growth rates, however 6.4% until 2012 * From 5.7 bEuros in 2003 to 10.6 bEuros in 2012 Lower house loans, Greek traditional investors in land / buildings

Real Estate Smaller annual growth rates, however 6.4% until 2012 * From 5.7 bEuros in 2003 to 10.6 bEuros in 2012 Lower house loans, Greek traditional investors in land / buildings

Tourism Tourism considered largest national industry Tourism represents 7% of Gross National Product Until 2010, turn over will reach 1,350 bEuros per annum Increasing demand for alternative tourism services in Europe

Tourism Tourism considered largest national industry Tourism represents 7% of Gross National Product Until 2010, turn over will reach 1,350 bEuros per annum Increasing demand for alternative tourism services in Europe

Development Sector

Development Sector

THEMELIODOMITHEMELIODOMI

Real Estate Total portfolio 170,000 m2 Expected turnover 213 mEuros Anticipated profit 108 mEuros

Commercial buildings- Athens 94,000 m2

- Thessaloniki 10,150 m2

- Kavala 12,000 m2

Mixed-use buildings- Thessaloniki 38,800 m2

Residential buildings- Athens 85,680 m2

- Thessaloniki 36,000 m2

- Creta 3,400 m2

Real Estate Total portfolio 170,000 m2 Expected turnover 213 mEuros Anticipated profit 108 mEuros

Commercial buildings- Athens 94,000 m2

- Thessaloniki 10,150 m2

- Kavala 12,000 m2

Mixed-use buildings- Thessaloniki 38,800 m2

Residential buildings- Athens 85,680 m2

- Thessaloniki 36,000 m2

- Creta 3,400 m2

Tourism Luxury Hotel unit in Lefkada Island, 250 beds, investment of 16 mEuros Agro-tourism resort network, a total investment of 8 mEuros

Tourism Luxury Hotel unit in Lefkada Island, 250 beds, investment of 16 mEuros Agro-tourism resort network, a total investment of 8 mEuros

Development Sector

Development Sector

Parking Lots Management 5 Parking Lots (1,900 parking spaces), 22 mEuros Planning for a Parking network of 5,000 spaces Gross revenue from 2006 3.2 – 3.6 mEuro

Parking Lots Management 5 Parking Lots (1,900 parking spaces), 22 mEuros Planning for a Parking network of 5,000 spaces Gross revenue from 2006 3.2 – 3.6 mEuro

THEMELIODOMITHEMELIODOMI

THEMELIODOMITHEMELIODOMI

Energy in GreeceEnergy in Greece

EU Directive 2001/77 states that by 2010

Greece must produce:

– 20.1% of total electricity needs by RES

– 14% of total RES wind parks and Solar PV

This means 3,000 MW of RES by 2010

National Plan for Climate Change has set

a minimum target of 15 MW PV

by 2010 (advantage in remote islands)

EU sees potential of supplying 1/3 of Greece’s

electricity by covering roofs with PV

EU Directive 2001/77 states that by 2010

Greece must produce:

– 20.1% of total electricity needs by RES

– 14% of total RES wind parks and Solar PV

This means 3,000 MW of RES by 2010

National Plan for Climate Change has set

a minimum target of 15 MW PV

by 2010 (advantage in remote islands)

EU sees potential of supplying 1/3 of Greece’s

electricity by covering roofs with PV

Wind410 MW

Biogas 22 MWSmall

Hydro 65 MW

PV3 MW

Excisting Situation: 500 MW RESExcisting Situation: 500 MW RES

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

2002 2003 2004 2005 2006 2007 2008 2009 2010

kW

PV Forecast in GreecePV Forecast in Greece

Industrial Photovoltaic Manufacturing Unit

Investment of € 22 million in Kilkis

Strategic alliances (USA, Germany, UK,

Japan)

International orientation

Research – Development (4 E.U.

programs)

Gross revenue 10 mEuros/p.a.

Power Generation

10 wind parks, 239.6 MW

3 small-scale hydroelectric projects, 9.75

MW

Industrial Photovoltaic Manufacturing Unit

Investment of € 22 million in Kilkis

Strategic alliances (USA, Germany, UK,

Japan)

International orientation

Research – Development (4 E.U.

programs)

Gross revenue 10 mEuros/p.a.

Power Generation

10 wind parks, 239.6 MW

3 small-scale hydroelectric projects, 9.75

MW

THEMELIODOMITHEMELIODOMI

Energy SectorEnergy Sector

THEMELIODOMITHEMELIODOMI

International SectorInternational Sector Germany

Equipment for air pollution control plants Romania

Subsidiary TEROM (geo-constructions) Wastewater treatment plant in Constanta 28.5 mEuros Wastewater treatment plant in Eforie 14 mEuros Real Estate in Bucharest (6 plots) SOCED listed in RASDAQ

FYROM Wastewater treatment plant in Koumanovo 11 m Euros Subsidiary VARDAR Construction

Albania Building projects 10 m Euros Infrastructure projects – Real Estate

Bulgaria Wastewater treatment plant in Blagoevgrad 7.3 m EurosTurkey EXANDAS Istanbul: Consultancy for E.U. Projects

Germany Equipment for air pollution control plants

Romania Subsidiary TEROM (geo-constructions) Wastewater treatment plant in Constanta 28.5 mEuros Wastewater treatment plant in Eforie 14 mEuros Real Estate in Bucharest (6 plots) SOCED listed in RASDAQ

FYROM Wastewater treatment plant in Koumanovo 11 m Euros Subsidiary VARDAR Construction

Albania Building projects 10 m Euros Infrastructure projects – Real Estate

Bulgaria Wastewater treatment plant in Blagoevgrad 7.3 m EurosTurkey EXANDAS Istanbul: Consultancy for E.U. Projects

-30.0000

30.00060.000

90.000

120.000150.000

180.000

2001 2002 2003 2004 (e)

Company’s turnover

Gross Profit

Operating Result

Profits Before Taxes

CORPORATECORPORATE

THEMELIODOMITHEMELIODOMI

CONSOLIDATEDCONSOLIDATED

Financial FiguresFinancial Figures

-30.0000

30.00060.00090.000

120.000150.000180.000

2001 2002 2003 2004 (e)

Total Investments 2000 – 2003: 121 m Euros Total Investments 2000 – 2003: 121 m Euros

Stock Price = 1.20 €

Market Cap. = 41,201,612 €

Price/Earnings ps (09.30.04) = 20.1

Price / Book Value (09.30.04) = 0.32

Price / Sales ps (09.30.04) = 0.37

Free Float (01.10.2005) = 44%

EBIT (09.30.04) = -813,159.60 €

EBITDA (09.30.04) = 1,165,192.25 €

Stock Price = 1.20 €

Market Cap. = 41,201,612 €

Price/Earnings ps (09.30.04) = 20.1

Price / Book Value (09.30.04) = 0.32

Price / Sales ps (09.30.04) = 0.37

Free Float (01.10.2005) = 44%

EBIT (09.30.04) = -813,159.60 €

EBITDA (09.30.04) = 1,165,192.25 €

Share DataShare Data

THEMELIODOMITHEMELIODOMI

To become an environment oriented group of companies in land development in solar, wind and water energy in water, sewage and solid waste management in agrotourism

To become an environment oriented group of companies in land development in solar, wind and water energy in water, sewage and solid waste management in agrotourism

Our visionOur vision

Our missionOur mission to emphasize on our specialization to maximize our share in projects to exploit new markets, with new alliances to consolidate our position in the energy market to expand our activities in development

to keep our people, personnel and shareholders satisfied

to emphasize on our specialization to maximize our share in projects to exploit new markets, with new alliances to consolidate our position in the energy market to expand our activities in development

to keep our people, personnel and shareholders satisfied