In response to a question by the Greek Capital Markets Commission, J&P-AVAX SA confirms the announcement of Greece's Public Power Corporation SA Group dated 08.12.2011 that the Tender of the companies ARKADIKOS ILIOS 1 S.A. and ARKADIKOS ILIOS 2 S.A. (100% subsidiaries of Public Power Corporation SA) for the “Study, procurement, transfer, installation and set into operation of two (2) photovoltaic plants of 39MW and 11MW respectively, in Megalopolis”, was awarded to J&P AVAX SA.

Marousi, December 12, 2010

                                             THE BOARD OF DIRECTORS