PRESS RELEASE: FINANCIAL RESULTS FOR THE FISCAL YEAR 2007 - 3.3% INCREASE IN TURNOVER: € 232.2 MILLION - € 43.5 MILLION: EARNINGS BEFORE INTEREST, TAXES DEPRECIATION AND AMORTIZATION (EBITDA) - € 13.6 MILLION: NET EARNINGS AFTER TAX ANEK S.A. announces the company’s results for the fiscal year ended on December 31st 2007: Parent company results: Turnover for the 2007 fiscal year increased by 3.3% and came to € 232.3 million compared to € 225.0 million in the 2006 fiscal year. In 2007, ANEK was deployed in coastal shipping & in the Adriatic Sea, transporting a total of 1,860 thousand passengers, 340 thousand cars and 240 thousand trucks, thus maintaining a large market share on all its routes. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to € 43.5 million compared to € 50.4 million in 2006, affected by the 9.6% increase in the cost of sales compared to the previous fiscal year. The significant increase in fuel prices during the last 4-month period of 2007, the emergency chartering of a vessel in the Adriatic (due to mechanical damage of the F/B LATO), as well as the intensive price competition during the last 4-month period of 2007 on the Chania route were the main contributing factors in the decrease of EBITDA and profit, all of which the Management considers as exceptional events. On an annual basis, the Company’s fuel costs increased by 13.4% or € 7.8 million. Net profit after taxes stood at € 13.6 million, compared to € 20.3 million in 2006. At the annual General Assembly of the Company, which is due to take place on May 18, 2008, the Board of Directors will propose the distribution of total dividends of € 8.1 million, which corresponds to € 0.05 per share. Group results: The consolidated turnover for the fiscal year 2007 stood at € 254.3 million, compared to € 254.7 million in 2006. The earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 43.3 million, compared to € 52.4 million and net profit after taxes and minority interests stood at € 12.3 million, compared to €20.2 million in 2006. Events – Developments: During 2007, the share capital increase of the Company by € 101.5 million was successfully completed through cash payment and the issue of 101.5 million new common registered shares, with a nominal value of € 1.00 each. Following the completion of the share capital increase, in accordance with the Company’s strategic plan and implementing part of its investment programme, the Board of Directors decided on July 16, 2007 to purchase the F/B FERRY TSUKUBA from Japan. The ship was built in 1998, it is 192 meters long, 27 meters wide, it has 23.5 knots service speed and features a garage approximately 2,000 lane meters long. The Company’s new acquisition was delivered in Japan on 24 July 2007, was renamed ELYROS and upon its arrival in Greece, its rebuilding started based on the highest standards and according to international safety regulations while considering passengers’ safety and comfort. Following the completion of the rebuilding, the ELYROS will have a capacity of 2,000 passengers and approximately 140 trailers and it is expected to expand ANEK’s fleet in the coming summer season. The chartering of F/B EL. VENIZELOS to a Tunisian state company was continued in 2007 for the period from June 22 to September 20, and will continue for the respective period in 2008, thus contributing to the improvement of the Company’s results and image abroad. During the period from 28 June to 26 October, the F/B LATO was chartered to an Algerian company. In August 2007, the ship suffered mechanical damage, was replaced by the F/B LEFKA ORI and the Company was forced to charter a replacement vessel in order to cover its needs in the Adriatic Sea. At the extraordinary General Assemblies of ANEK’s Shareholders on February 3, 2008 and March 2, 2008, the following was decided: a) the issue of a bond loan as per law 3156/2003, convertible into shares of the Company, by cancelling of pre-emptive rights of existing shareholders and direct or indirect disposal to foreign institutional investors, to an amount of up to € 120 million and b) the issue of a bond loan as per law 3156/2003, convertible into shares of the Company, with disposal to the existing shareholders, to an amount of up to € 40 million. Additionally, the procedure of restructuring of the Company's long-term loans was recently completed. The new loan agreement, which was signed with a syndicate of Greek banks, achieved more favourable repayment terms and reduction of the financing cost. Finally, for the 2008 fiscal year ANEK is expanding its routes (pending approval by the Ministry of Mercantile Marine) and will be active in the Cyclades, in the “Piraeus - Paros - Naxos - Ios – Santorini” route with the F/B PREVELIS. This redeployment from the Rethimnon route is expected to significantly improve the vessel’s operating results. The above events and particularly the restructuring of long term loans, as well as the decision to issue bond loans, offer the Company the opportunity for new investments (purchase of new vessels, participations etc) and form the basis for achieving improved financial results in 2008 compared to 2007 while ensuring further growth and strengthening ANEK’s position as the most substantial Greek passenger / ferry shipping company. Chania, March 26th 2008 THE BOARD OF DIRECTORS ANEK Lines Press Release