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Salamis: Reminder for exercising warrants

Salamis Tours (Holdings) Ltd would like to remind all warrant holders that, according to the Issue Terms included in the Prospectus dated October 5, 1998. The last day for exercising warrants is November 30, 2002. The warrants exercise price is 70 cents per warrant. Each warrant exercised will be converted to a share of nominal value 25 cents and will be equivalent to an existing share (rank pari passu). The new shares resulting from the exercise of warrants will be listed in the CSE.

Warrant holders who wish to exercise them must complete and sign the Notification at the back side of the Share Purchase Right Certificate, declaring the number of shares for which the warrant is exercised and deposit it on November 30, 2002 along with the required amount to Company’s registered office:

Salamis Tours (Holdings) Ltd
1, Katsounotou Str
Salamis House
Limassol.

The company encourages warrant holders to seriously consider the share’s trading price at the CSE during the time of exercising warrants. It is noted that at the date of this announcement, the share’s price is lower than the warrants’ exercise price. It is also noted that according to CSE regulations, the last day of trading for warrants at the CSE is November 19, 2002.
Thursday, 10 October, 2002 - 09:59