Athens, November 25th, 2005. M.J.MAILLIS GROUP is announcing its Consolidated Financial Results under IFRS for the 9 months 2005.
- Consolidated Sales of Euro 276.5 mln versus Euro 258.4 mln in the 9 months 2004, corresponding to an increase of 7%.
Consolidated Earnings before Interest, Taxes, Depreciation and Restructuring Charges (E.B.I.T.D.A.) of Euro 45.1 mln versus Euro 43.9 mln in the 9 months 2004, leading to an increase of 3%.
- Consolidated Earnings before Taxes (E.B.T.) of Euro 19.6 mln versus Euro 19.9 mln in the respective period of 2004

For the 9 months 2005 the Group achieved organic sales growth of 7%, increase in EBITDA (net of restructuring charges) of 3% and significant improvement in cash flow generation leading to Euro 4.6mln reduction in net debt. On a 12-month rolling basis, the reduction in net debt is 7.4mln In the 3rd quarter, quantities are improving across all product categories compared to the average level of the 1st half of the year and are the strongest contributor to the sales growth in this quarter. Especially, in the case of steel strap, Q3 volumes, although higher than the average of the first two quarters, are still at lower levels than the previous year due to the overstocking effect in the 2nd half of 2004. This lag in volumes combined with declining prices has an adverse effect in the sales value and pressure on margins, as high priced stocks of the previous months are sold at lower prices. This development confirms the correction in steel within 2005 for both volumes and prices, following the exceptionally high level in 2004. From 2006 onwards, the market is expected to normalize. Plastics are exhibiting both volume and value increases vs 2004, whereas machines sales are growing at 9%, with automatic machines being the main driver. Despite the difficult market conditions and the abnormality experienced in the steel market in 2004 and 2005, the Group continues to grow organically and improve its cash flow generation. At the same time, the Group is accelerating its restructuring efforts to ensure competitive cost base going into 2006. The financial results of M.J. MAILLIS S.A. and the consolidated financial results will be published in the newspapers KATHIMERINI and NAFTEMPORIKI on 26.11.2005.

For more information, please contact our Group' s Investor Relations Department (Mrs. Alexandra Konida, Group Treasury & Investor Relations Director, tel. 210-6285202 or e-mail alexandra.konida@maillis.gr)