Louis plc Presentation June 2008 Overview of

Louis plc Presentation June 2008

Overview of the Louis Group The Louis Group is a leading Hotel and Cruise operator The Louis Group is a diversified international group whose core competency stems from its 73 year history in the tourism industry. The Group’s activities cover the following key areas: • Cruising - The Group conducts cruises across the globe, either under its own brand or through chartering of its vessels to third parties. The Group operates 11 vessels and has recently signed an agreement to purchase another 2 vessels. • Hotels - The Group either owns or manages 21 Tourist Hotel units in Greece & Cyprus and 1 Hilton Hotel in Nicosia, Cyprus. Total number of hotel units 22.

Louis Group - Main Group Companies • Louis plc (LUI) - Listed in the Cyprus Stock Exchange (holding company) • Louis Cruises Limited – Private subsidiary company operator of 11+2 cruise ships • Louis Hotels Public Company Ltd Public non-listed subsidiary company (21 resort hotels and 1 city hotel, Hilton Park in Nicosia) • Cyprus Tourism Development Public Company Ltd (CTDC) – Public non–listed associated company (owner of the Cyprus Hilton Hotel in Nicosia)

Existing Legal Structure (high level) Louis plc 100% Louis Cruises Ltd Ship Owning/operating 13 cruise liners 99, 8 % 20% Louis Hotels plc Cyprus Tourism Development plc 21 Beach Hotels + Hilton Cyprus Hilton Park (city hotel) Ship Management Cruising (Louis Cruise Lines) Hotels

Overview of Louis plc – 2007 Highlights • • Total Assets € 704 million Shareholders’ equity € 291 million Group Turnover € 315 million Net Profit € 12, 9 million (2006: € 21, 4 million) 70% of Turnover earned overseas (not in Cyprus) Total Number of employees around 8. 000 Total number of guests over 600. 000 per year Louis plc either owns or manages over 24. 000 beds. The Group’s cruising activities account for approximately 12. 000 berths, whereas the hotel activities account for 12. 000 beds plc

Louis plc –Stock Market Fundamentals ü ü ü ü Listed : Cyprus Stock Exchange (“CSE”) since 1999 Market : Main CSE Ticker : LUI Indices : FTSE 20 και FTSE – MED 100 (Tel Aviv, Athens, Nicosia) Market capitalization : € 232 m (€ 0, 55/share) 4 rth largest company 5 th Most marketable security : CSE Price / Book Value : 0, 79 (2007 actual) PE Ratio : 18 x (2007 actual) 11 x (2006 actual) Dividend Yield: 2, 4% (2007 actual) Dividend Pay Out Ratio: 42% (on 2007 actual) 25% (on 2006 profits) No. of shareholders : 22. 000 Free Float : 30, 1% Corporate Governance Code: Yes plc

Louis plc –Share Price Movement vs General Index plc

Louis plc – Shareholder Structure Major Shareholder – C. Loizou & family 69, 9% Directors - Executive 2, 1% Directors – Non Executive 0, 9% Staff 0, 6% Institutional Investors - Cypriot 7, 0% Institutional Investors – International 1, 1% The Public in general 18, 4% TOTAL 100, 0% plc

Cruising Division – “Louis Cruises Limited”

Cruising Division - activities ü ü Operation of cruises from Cyprus (2 vessels) Operation of cruises from European ports: - Greece (3 Vessels) - Genoa (1 Vessel) - Marseille (1 Vessel) ü Chartering of Vessels : (4 vessels) 1. long-term - e. g. Thomson (4 vessels) 2. short-term - various Agents, Foreign Governments and TO’s (eg Orient Queen round the globe winter cruise) - Floating hotels (e. g. Lisbon 98, G 8 summit, NATO)

Louis Cruise Lines - Recent Developments Acquisition of New Generation Vessels Norwegian Dream Build date: Tonnage: Length: Cabins: Decks: Detail: 1992 Refurbished: 1998 (lengthened), 2006 50, 764 Draught: 7. 00 229. 84 Breadth: 32. 10 875 Passengers: 2. 156 10 2 dining rooms, 4 restaurants, 2 lounges, 3 bars, 2 swimming pools, 4 hot tubs library, children's facilities, casino, beauty salon and spa, fitness centre jogging/walking track, basketball/volleyball court, golf driving net, 11 elevators conference center, telephone, fax, satellite telephone, doctor on board. Build date: Tonnage: Length: Cabins: Decks: 1992 40, 876 207. 26 730 9 Detail: 2 dining rooms, 4 restaurants, 2 lounges, bars, 2 swimming pools, 3 hot tubs library, children's facilities, casino, beauty salon and spa, fitness centre 6 elevators, conference center, telephone, fax, satellite telephone, doctor Build date: Tonnage: Length: 1992 25, 611 161. 70 Refurbished: Draught: Breadth: 2007 5. 90 30. 50 Cabins: Decks: Detail: 480 7 Passengers: 1, 278 Norwegian Majesty Refurbished: Draught: Breadth: Passengers: 1999 (lengthened), 2005 6. 20 27. 60 1. 790 Cristal 2 dining rooms, show lounge, swimming pool, whirlpool, casino, 4 elevators, promenade deck, fully air-conditioned, stabilisers, telephone, fax, satellite telephone, doctor on board.

Cruising Division - Itineraries

Cruising Division - Types of services offered Main sources of income: Main Categories 2008 Estimate 2007 Actual 2006 Actual 2005 Actual Own Brand operations 58, 9% 50, 4% 47, 5% 47. 3% Chartering & Ship Management 41, 1% 49, 6% 52, 5% 52. 7%

Cruising Division – Financial Results

Louis Cruise Lines - SWOT analysis Strengths ü Diversified revenue base (charters / own brand cruises) ü Strategic alliances with Tour Operators ü Specialized know how and expertise, covering all aspects of ship management ü Geographical Diversification ü Fleet size has attained critical mass; economies of scale have set in ü Operating in distinct niche market; no head-on competition with big players Weaknesses û Existing capital base û Limited access to new funds to grasp new business opportunities

Louis Cruise Lines - SWOT analysis Opportunities ü Healthy outlook for the industry; Barriers to entry (financing, expertise, scale) will minimise new entrants ü Lack of expertise may push potential new entrants to seek vessel management and chartering services from Louis ü Healthy outlook for LCL’s main source markets for own brand cruises Threats û Further consolidation in the industry as big players continue to acquire smaller operators û Exposure to risks affecting Tourism sector; terrorism, political unrest, economic downturn, fuel prices

Louis Cruise Lines - Strategic Objectives ü Maintain leadership position in the Greek market and continue the development of own brand operations ü Further expansion of Chartering services – new agreements with current and prospective partners ü Develop 3 rd party ship - management ü Further expansion in the European markets ü Continued management of our professional relationship with TUI and other major Tour Operators ü Renewal and further optimization of fleet

Louis Hotels Public Company Ltd (“Louis Hotels”) Louis Imperial Beach Louis Apollonia Beach

Louis Hotels - Background Active in Hotel industry • since the early 40’s – Mountain resorts of Cyprus • in the 50’s – Louis Hotel, Nicosia • in the 60’s – Ledra Palace, Nicosia • The dynamic growth of the Group’s hotel business in Cyprus began in 1978, after the Turkish invasion. The aggressive expansion in Greece began in the 1990’s

Louis Hotels - profile ü 22 Hotels in Cyprus, Greece and Egypt (12. 000 Beds) ü Mainly four star units ü Close cooperation with all major tour operators ü Biggest chain of Hotels in Cyprus and Greece combined ü Dynamic presence in the most popular tourist resorts in Greece and Cyprus ü New Management agreement in Sharm El Sheikh (as from 2008) ü Owner of property in Cyprus and Greece for future tourist and property development projects ü Branding of 4 units under Iberostar and 1 unit under Hilton (Hilton Park – Nicosia)

Louis Hotels – Locations of Hotels

Louis Hotels - Cyprus Hotel Name Rooms Location Status 1 Apollonia Beach Hotel 204 Limassol Long Lease 2 Louis Imperial Beach 239 Paphos Long Lease 3 Iberostar Leadra Beach 269 Paphos Long Lease 4 Louis Phaethon Beach 422 Paphos Long Lease 5 Louis King Jason 78 Paphos 50% Owned 6 Louis Nausicaa Beach 195 Protaras Owned 7 King Alkinoos 76 Protaras Rented 8 Louis Althea 150 Protaras Owned 9 Louis Princess Beach 138 Larnaka Rented 10 Hilton Park 194 Nicosia Long Lease 1, 965 • • • TOTAL ROOMS Louis Hotels has consolidated its exposure in Cyprus over the last few years. Last hotel to be built by the Group was the Althea Hotel in 2004. Cyprus market remains fragmented with a lot of scope for consolidation and economies of scale. Ayios Elias with 150 units has operated as a hotel for the last time in 2007 and will be sold as individual holiday homes in 2008 / 2009. Page 25

Louis Hotels - Greece Hotel Name Rooms Location Status 1 Corcyra Beach 370 Corfu Owned 2 Iberostar Kerkyra Golf 240 Corfu Owned 3 Iberostar Regency 213 Corfu Owned 4 Louis Grand 247 Corfu Owned 5 Louis Zante Beach 268 Zante Owned 6 Iberostar Plagos 161 Zante Owned 7 Creta Princess 420 Crete Owned 8 Louis Colossos 742 Rhodes Rented 9 Apostolata Island Resort 137 Kefalonia Managed 10 Mykonos Theoxenia 52 Mykonos Franchised 2, 850 • • TOTAL ROOMS Louis Hotels has completed a major growth drive in Greece. Major acquisitions completed in 2001. Most hotels purchased underwent extensive renovation in 20022004. Corcyra Hotel was extended by 120 rooms in 2006 In Greece a much higher percentage of properties are owned. All properties are on prime locations on the beach and have significant real estate value. Page 26

Louis Hotels - Egypt • • • Louis Hotels is in the process of further developing its hotel business in Egypt. A 345 Room hotel, the Louis Tiran Sharm is already under a management contract and due to start operations in November 2008. Louis Tiran Sharm will be one of the best properties in Sharm El Sheikh on a unique location (combination of coral reef and sandy beach) and the ideal means for Louis Hotels to make its entry in the Egyptian market. Page 27

Louis Hotels – Ownership status No. of Units Cyprus Greece Egypt Total Owned 4 7 - 11 Leased-LT 5 1 - 6 Rented-ST 2 - - 2 Franchised - 1 Managed - 1 1 2 11 10 1 22 Total

Louis Hotels – Financial Results

Louis Hotels – Sales Geographical Analysis 2007 Euro 96, 4 m Final Results

Louis Hotels – EBIDTAR Geographical Analysis 2007 Euro 26, 9 m EBIDTAR Margin 2007 27, 9% Final Results

Louis Hotels – EBIDTA Geographical Analysis 2007 Euro 13, 8 m EBIDTA Margin 2007 14% Final Results

Louis Hotels - SWOT analysis Strengths ü Strategic alliances with Tour Operators ü High quality asset base; strategically dispersed in Cyprus and Greece ü Geographical diversification of client base and source markets ü Product differentiation (all-inclusive, family, couples only etc. ) ü Operating efficiencies; hotel portfolio has attained critical mass Weaknesses û Existing capital base û Limited access to new funds to grasp new business opportunities

Louis Hotels - SWOT analysis Opportunities Threats ü Expand into new markets; capitalise on existing strategic alliances with Tour Operators to reduce risk of expansion û Exposure to risks affecting Tourism sector; economic downturn, fuel prices ü Leverage know-how through provision of hotel management services û ü Healthy outlook for Greek tourism market Development of competitive markets in the region (Egypt, Turkey, Balkans) ü Further consolidation in a fragmented market

Louis Hotels - Strategic Objectives ü Further expansion in neighbouring markets such as Egypt and the Balkans ü Focus on quality 4 and 5 star hotels (200 rooms<) ü Product differentiation (all inclusive, family, sports, special interest) ü Further expansion into the Greek market through rental and management agreements ü Management of our professional relationship with all major Tour Operators ü Debt reduction/ restructuring (sale and rent back of properties)

The Cyprus Tourism Development Public Company (“CTDC”) • Hilton Cyprus Nicosia (5 star)

Louis plc – Sale of 57% of CTDC Ltd (Hilton Cyprus) Completion of sale 13 August 2007 • Sale of 57% of CTDC share capital for cash to MIG • Cash proceeds in the region of Euro 50 million • Net Profit from disposal around Euro 15 million • Louis plc maintains 20% (associate company) and Board participation

Louis plc Audited consolidated financial information ye 31 December 2007 • Profit and Loss account • Balance Sheet plc June 2008

2007 Louis plc Revenue Breakdown by Activity Total € 315 million plc

2007 Louis plc EBITDAR Breakdown by Activity Total € 56, 8 million EBITDAR Margin 18 % (24% in 2006 – drop mainly due to the Sea Diamond ) plc

Louis plc - Summary Financial Information Final Results 2007 Audited Consolidated Profit & Loss Account (IFRS) 31/12/2007 €‘ 000 31/12/2006 €’ 000 Turnover 314. 748 310. 502 EBIDTAR 56. 784 74. 595 Profit from operations 14. 353 35. 192 Profit for the period 13. 288 23. 001 (429) (1. 606) 12. 859 21. 395 3, 04 5, 06 Minority Interest Net Profit attributable to Louis plc Earnings per share (cent) plc

Louis plc - Summary Financial Information Balance Sheet as at 31 st December 2007 Consolidated Financial Statements 31/12/2007 €‘ 000 Audited 31/12/2006 €‘ 000 Audited Non-Current Assets 593. 575 665. 050 Total Assets 704. 295 758. 056 Total Shareholders’ Equity and Reserves 290. 681 277. 275 Total Bank Liabilities 199. 724 201. 555 Finance Leases 116. 641 133. 802 Cash at Bank 34. 128 18. 726 plc

Louis plc Group Presentation Thank you for your attention June 2008

Contact Details : Ø Stelios Kiliaris, Group Executive Director kiliaris@louisgroup. com Tel. +357 22588621 ØCostas Hadjimarkos, Investor Relations Manager hadjimarkosc@louisgroup. com Tel. +357 22588160 Ø Chris Theophilides, Business Development Manager Tel. +357 22588678 chris. theophilides@louiscruises. com Øwww. louisgroup. com June 2008