Universal: CGC Committees changes

We wish to inform you that at the meeting held on January 3, 2005, the Board of Directors decided to proceed to the following changes in its committees:

Audit Committee

Messrs. Michalis Michaelides and Socrates Solomides resigned and Messrs. Socrates Kallis and Frixos Sorokos were appointed.

Remuneration Committee

Mr. Socrates Solomides resigned and Mr. Socrates Kallis was appointed.

Appointment Committee

Mr. Michalis Kleopas resigned and Mr. Frixos Sorokos was appointed.