CTC clarifies on Ermes swap

Cyprus Trading Corporation Public Ltd said that further to the public offer made to the shareholders of Woolworth (Cyprus) Properties Public Ltd for the acquisition of shares of Ermes Department Stores Public Ltd, it should be clarified that the shares they hold in Woolworth will not be affected either they accept the offer or not.

The number of shares they hold in Woolworth will remain the same irrespective of the acceptance or not of the offer.

It is reminded that the shareholders of Woolworth have been invited to a meeting-presentation of Ermes on Tuesday, September 26, 2006 at 5.00 pm at the Hilton Hotel in Nicosia.