This is a large unencrypted multipartite EXE and DOS boot sector infector. It contains this text:
KARNAVALI OF PATRAS !!! *** PATRAS H/Y ***
A lovely heart fell from the sky !!!
The text refers to the annual carnival festival held in the city of Patras in Greece. PATRAS H/Y seems to refer to the Computer Science dept. of the University of Patras.
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Description Created: Mikko Hypponen, F-Secure