The company Display Art Ltd. commences its initial public offering today until the 27 July 2001. The company will offer 500.000 shares of 20 cents nominal value to the public at 50 cents each. Total share capital after listing will be 13.506.460 shares of 20 cents nominal value each. Bonus warrants will be offered to the ratio of 1:10 at the exercise price of 75 cents, exercisable during the five last working days of November 2003.

Turnover for 2000 was CYP 1.724.000 with after-tax profits of CYP 371.000. Projected turnover for the current year is CYP 2.150.000 with anticipated after-tax profits of CYP 525.000.

Display Art is a company specialising in the assembly of display kiosks and related constructions both in Cyprus and in Europe. The company intends to utilise funds raised from the issue for expansion of its activities further, especially in Europe.

The board is comprised of Savvas Nicolaou, Chairman, Costas Demetriou, Vice Chairman, Pambos Hadjigeorgiou, Panayiotis Neophytou, Michalis Antoniades, Michalis Thoukidides, Marios Karamallakis and Yianna Nicolaou, Members.