ELMEC SPORT S.A.

Announcement

Elmec Sport SA announces that the new Board of Directors that was elected by the Annual General Meeting of the shareholders of the Company on the 29th of June,2007, was formed into a body. The composition of the new Board of Directors is as follows:
Georgios Galanakis, Chairman.
Sam Fais, Vice President.
Lucy Fais, Executive Director.
Christos Hatziyakoumis,Executive Director.
Fokionas Karavias, independent non - executive director.
Efterpi Lazou, independent non - executive director.
The company is represented jointly by Mr Georgios Galanakis and Mr Christos Hatziyakoumis.