Louis plc Presentation

1. Louis plc Presentation June 2008 www.louisgroup.com

2. 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.

3. 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 LtdPublic non-listed subsidiary company (21 resort hotels and 1 city hotel, Hilton Park in Nicosia) • Cyprus Tourism DevelopmentPublic Company Ltd (CTDC) – Public non–listed associated company (owner of the Cyprus Hilton Hotel in Nicosia)

4. 100% 99,8 % 20% Louis Cruises Ltd Louis Hotels plc Cyprus Tourism Development plc Ship Owning/operating 13 cruise liners Ship Management Existing Legal Structure (high level) Louis plc 21 Beach Hotels + Hilton Park (city hotel) Hilton Cyprus (city hotel) Hotels Cruising (Louis Cruise Lines)

5. 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

6. Louis plc –Stock Market Fundamentals • Listed: Cyprus Stock Exchange (“CSE”) since 1999 • Market : Main • CSE Ticker: LUI • Indices :FTSE20 και FTSE – MED100 (Tel Aviv, Athens, Nicosia) • Market capitalization: € 232 m (€0,55/share) 4rth largest company • 5th Most marketable security :CSE • Price / Book Value : 0,79 (2007 actual) • PE Ratio : 18 x (2007 actual) 11 x (2006 actual) • DividendYield: 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

7. Louis plc –Share Price Movement vs General Index plc

8. Louis plc – Shareholder Structure plc

9. Cruising Division – “Louis Cruises Limited”

10. Cruising Division - activities • Operation of cruises from Cyprus(2 vessels) • Operation of cruises from European ports: • Greece (3 Vessels) • Genoa (1 Vessel) • Marseille (1 Vessel) • Chartering of Vessels: (4 vessels) • long-term-e.g.Thomson (4 vessels) • short-term- various Agents, Foreign Governments and TO’s (eg Orient Queen round the globe winter cruise) - Floating hotels (e.g. Lisbon 98, G8 summit, NATO)

11. Louis Cruise Lines - Recent DevelopmentsAcquisition of New Generation Vessels Norwegian Dream Build date: 1992 Refurbished: 1998 (lengthened), 2006 Tonnage: 50,764 Draught: 7.00 Length: 229.84 Breadth: 32.10 Cabins: 875 Passengers: 2.156 Decks: 10 Detail: 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. Norwegian Majesty Build date: 1992 Refurbished: 1999 (lengthened), 2005 Tonnage: 40,876 Draught: 6.20 Length: 207.26 Breadth: 27.60 Cabins: 730 Passengers: 1.790 Decks: 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 Cristal Build date: 1992 Refurbished: 2007 Tonnage: 25,611 Draught: 5.90 Length: 161.70 Breadth: 30.50 Cabins: 480 Passengers: 1,278 Decks: 7 Detail: 2 dining rooms, show lounge, swimming pool, whirlpool, casino, 4 elevators, promenade deck, fully air-conditioned, stabilisers, telephone, fax, satellite telephone, doctor on board.

12. Cruising Division - Itineraries

13. Cruising Division - Types of services offered Main sources of income:

14. Cruising Division – Financial Results

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

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

17. Louis Cruise Lines - Strategic Objectives • Maintainleadership position in the Greek market and continue the development of own brand operations • Further expansion of Chartering services – new agreements with current and prospective partners • Develop 3rd party ship - management • Further expansion in theEuropeanmarkets • Continued management of our professional relationship withTUI and other major Tour Operators • Renewal and further optimization of fleet

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

19. 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

20. Louis Hotels - profile • 22Hotels in Cyprus, Greece and Egypt (12.000 Beds) • Mainly four star units • Close cooperationwith all major tour operators • Biggest chain of Hotels in Cyprus and Greece combined • Dynamic presence in the most popular tourist resorts inGreece and Cyprus • New Management agreement in Sharm El Sheikh (as from 2008) • Owner of property in Cyprus and Greece for future tourist and property development projects • Branding of 4 units under Iberostar and 1 unit under Hilton (Hilton Park – Nicosia)

21. Louis Hotels –Locations of Hotels

22. Louis Hotels - Cyprus • 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

23. Louis Hotels - Greece • Louis Hotels has completed a major growth drive in Greece. Major acquisitions completed in 2001. Most hotels purchased underwent extensive renovation in 2002-2004. 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

24. 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

25. Louis Hotels –Ownership status

26. Louis Hotels – Financial Results

27. Louis Hotels – Sales Geographical Analysis2007 Euro 96,4 m Final Results

28. Louis Hotels – EBIDTAR Geographical Analysis2007 Euro 26,9 m EBIDTAR Margin 2007 27,9% Final Results

29. Louis Hotels – EBIDTA Geographical Analysis2007 Euro 13,8 m EBIDTA Margin 2007 14% Final Results

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

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

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

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

34. 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

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

36. 2007 Louis plc Revenue Breakdown by Activity plc Total € 315 million

37. 2007 Louis plc EBITDAR Breakdown by Activity plc Total € 56,8 million EBITDAR Margin 18 % (24% in 2006 – drop mainly due to the Sea Diamond )

38. Louis plc - Summary Financial Information Final Results 2007 plc

39. Louis plc - Summary Financial Information Balance Sheet as at 31st December 2007 plc

40. Louis plc Group Presentation • Thank you for your attention June 2008 www.louisgroup.com

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