Holiday Announcement

Christmas and New Years holidays are fast approaching, the end of the year is close, and in addition, on 1 January 2008 Cyprus will switch its official currency from the Cyprus Pound to the Euro. This creates the need for considerable extra work for our office, the banks, the Income Tax Office and the office of the Cyprus Registrar of Companies.

It is important to ensure that any transactions which should be completed before the end of the year should be done as early as possible and not be left for the last days!

Below we give the information on the holidays until the end of the year:

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PUBLIC HOLIDAYS IN CYPRUS:

COSMOSERVE & UHY ANTONIS KASSAPIS LTD: Our office will be closed on 25 December, 26 December, and 1 January 2008. We will also be only partly working on Monday 24 December 2007 and on Monday 31 December 2007.

BANKS: The banks will be officially closed on 24 December, 25 December and 1 January 2008. 31 December has been declared a Special Bank Holiday, on which Banks operating in Cyprus will not transact any business with customers or correspondents (except for accepting cash between 10.00am till 13.00pm local time).

Latest Value date to be used on payment orders for the current year will be Friday, 28 December 2007. The banks will open again on 2 January 2008.

TAX OFFICE: From 21 December at approximately 11 am onwards until the 1st January, the tax office will not transact any business with customers. The office will be officially closed on 24, 25 and 26 December. Monday 31 December will be a working day but the office will not transact any business with the public. The office will open again for the public on 2 January 2008.

REGISTRAR OF COMPANIES: From 21 December at approximately 11 am onwards until the 1st January, the Registrar of Companies will not transact any business with the public, will not be accepting submission of any documents, and the tills will be kept closed. The office will be officially closed on 24, 25 and 26 December. Monday 31 December will be a working day but the office will again not transact any business with the public. The office will open again for the public on 2 January 2008.