Press Release: Royal Olympic Cruise Lines Inc.
August 8, 2001
PIRAEUS, Greece -- Royal Olympic Cruise Lines Inc. (Nasdaq: ROCLF and Nasdaq Europe: ROCL) announced that it has
regretfully been forced to cancel the cruises of its new vessel, Olympic Explorer, for the remainder of the summer
season.
Although it had been reported that the Company had hoped to commence cruises with the vessel on September 15, it
has not been possible to finalize all the discussions with the Blohm+Voss shipyard to allow the necessary technical
modifications to be completed by this date.
Commenting on the cancellation, Yiannos Pantazis, Royal Olympic's Chief Executive Officer, stated: ``It is a real
disappointment to us that the ship will not be able to undertake any cruises during the summer season, but we hope
to have the vessel ready to commence operations for the next season.''
The Company said that all passengers booked on Olympic Explorer from September 15 would be offered alternative
cruises on other ships of the Company.
Royal Olympic Cruise Lines is the largest cruise operator in the Eastern Mediterranean, owning and operating a
fleet of nine overnight cruise ships.
Some statements in this press release may be considered forward-looking, defined and as permitted by the SEC. This
press release is for information only and should not be considered investment advice.
SOURCE: Royal Olympic Cruise Lines Inc.