Annual Presentation to analysts - 12.05.2008

NEL Lines S.A., in compliance with the Athens Exchange regulation (as per article 292, paragraph 4a), would like to inform the investors that the Annual Analysts Presentation proceeded on 12.05.2008.

The analysis on the 2007 Financial Statements indicated the following:

- In 2007, NEL Lines Group Revenue amounted to € 45,1 million in comparison to € 26,9 million in 2006, resulting in a significant increase of 67%. This increase is mostly due to the redeployment of the high speed vessels “AEOLOS KENTERIS I” and “AEOLOS KENTERIS II” into new routes, as well as to the consolidation of subsidiary’s company C-LINK FERRIES revenue of 2007, whose vessels mostly operate in subsidized routes.

- In 2007, the Group considerably limited operating losses to € 0,8 million from € 7,9 million in 2006, mainly because of the decrease in total operating cost per mile by 19%, as a result of the better and more efficient use of materials and employment of crew.

- Total bank liabilities decreased from € 117,4 million in 2006 to € 70,1 million in 2007, resulting in a significant improvement of gearing ratio by 54% in comparison to 2006.

Management’s priority is to increase market share in active routes, obtain market share in new routes, capable of contributing to further improvement of gross operating profit margin, as well as to renew the Group’s fleet.

Further information is available on the Company’s website (www.nel.gr), as well as on the Athens Exchange website (www.athex.gr).

NEL Lines press release