The Board of Directors of AXON HOLDINGS S.A. announces, in accordance with the decision 3/347/12.07.2005 of the Hellenic Capital Market Commission, that on its meeting of 07/31/2007 a) it proceeded to a revision of its 02/28/2007 decision as pertains to the merger by absorption of the company SOUKOS HIGH TECH S.A. (which has already been renamed to AXAIKI HIGH TECHNOLOGY INDUSTRY S.A.) by AXON HOLDINGS S.A. and b) decided the increase of capital stock of AXON HOLDINGS S.A. (hereby, the "Benefited Company") with absorption of the sectors i) of product production and high technology services and ii) buildings, real estate and technical works of the split company AXAIKI HIGH TECHNOLOGY INDUSTRY S.A. (hereby, the "Split Company"). Of the assets of the Split Company, the other activities, namely the holdings of the Split Company in other companies, are transferred to the company MYSTRAS S.A. (hereby jointly with AXON HOLDINGS S.A., the "Benefited Companies'). The absorption due to split of the sectors of the Split Company by the Benefited Companies, will be implemented in accordance with the provisions of L. 2166/1993 in combination with the provisions of C.L. 2190/1920 and commercial legislature in general. The date of reformation was set at 07/31/2007. The Board of Directors of the Benefited Companies and the Split Company, appointed the auditing company BDO STANDARD HELLENIC AUDITING S.A., which will proceed to the preparation of the relative report for the ascertainment of the accounting value of the property assets of the contributing sectors. In addition the Board of Directors of the Benefited Companies and the Split Company, assigned to SOL S.A. to proceed to the assessment and determination of the stock exchange ratio of the Benefited Companies and the Split Company. Following the completion of the procedure of the split, the Split Company is dissolved without liquidation and its shares are cancelled, while the sum total of its assets (assets and liabilities) is transferred, as a consequence of universal succession, to the Benefited Companies. The Board of Directors of AXON HOLDINGS S.A., in its above meeting also decided that, following the completion of the above procedure of the split, contributes the sector of product production and high technology services to its 100% subsidiary company with the name EGKEFALOS PELOPONNESES S.A., in the scope of its general policy regarding individualization of its activities. The above are subject to the approval of the General Meetings of shareholders of the company as well as of the responsible Authorities by case. In any case, AXON HOLDINGS S.A. will appropriately inform the investing public of the exchange ratio that will be formed as well as on the general progress of the entire merger procedure. Emporiki Bank of Greece S.A. has undertaken the role of AXON HOLDINGS S.A. issue Consultant for the imminent increase of its stock capital.