In accordance with Law 3556/2007 as well as decisions 1/434/03.07.2007 and 33/03.07.2007 of Greece's Capital Markets Commission, J&P-AVAX SA announces the following transactions and related activities on its shares by insiders (as per Article 13 of Law 3340/2005):

• purchase of 3,000 shares on 09.03.2012 for a consideration of €2,826.08 by D&S JOANNOU (INVESTMENTS) LTD, a legal entity related to Board Chairman Mr Leonidas Joannou and Executive Director Mr Christos Joannou
• transfer of 526,000 shares on 08.03.2012 into a joint investment account held by Managing Director Mr Constantine Mitzalis and his close relatives Mrs Efrosyni Mitzalis and Mrs Eleni Mitzalis, from a personal investment account of Mrs Efrosyni Mitzalis

Marousi, March 12, 2012

Corporate Disclosure Service