HELLENIC FABRICS S.A. announces to public investors according to No.3/347/12.7.2005 decision of Hellenic Capital Market that, during today's Board of Directors meeting and following the submitted resignations of the members Messrs. Rigas Tzelepoglou and Michael Siopsis due to undertaken business commitments, has temporarily appointed for their replacement Mr. Savvas Mirliaountas and Mrs. Ekaterini Papatsa as non-executive members of the Board of Directors.

In addition Mrs. Ekaterini Papatsa and Mr. Konstantinos Voulgaris were appointed as independent and non-executive members of the Board of Directors.

Following the above changes, the company's Audit Committee is now composed by Messrs. Konstantinos Voulgaris, Savvas Mirliaountas and Mrs. Ekaterini Papatsa, non-executive members of the Board of Directors, while Mr. Konstantinos Voulgaris and Mrs. Ekaterini Papatsa are also independent.

Also the new Board of Directors was assembled as follows:

Ioannis Akkas,                         President, Executive Member

Narkissos Georgiadis,              Managing Director, Executive Member

Savvas Mirliaountas,                Non-executive Member

Konstantinos Voulgaris,            Independent, Non-executive Member

Ekaterini Papatsa,                      Independent, Non-executive Member