Announcement in accordance

with paragraph 4.1.4.4. of ATHEX regulation

May 21^st, 2012. Athens, Greece – Within the framework of the release of M. J. MAILLIS S.A. financial statements for the 01/01/2012 – 31/03/2012 period and in accordance with paragraph 4.1.4.4. of ATHEX regulation, the investment public is informed that the company's shares remain listed in the “Under Supervision” category to which they were transferred on 3/4/2009 following the ATHEX BoD decision reached on 3/4/2009. The reason for the transfer to the “Under Supervision” category was that based on the 31/12/2008 full year financial statement, losses for the yearly period exceeded 30% of net position without any actions towards improvement of the situation via a share capital increase (article 3.1.2.5. of ATHEX regulation).   

Since then, the Group has launched an extensive restructuring and cost reduction program, the results of which are already evident in the improvement of company operations and in the reduction of operating costs. The restructuring's second phase is in progress and we expect further reduction in expenses and production costs as the program unfolds.  It has to be mentioned that in October 2011, Maillis Group completed the financial restructuring process resulting in the refinancing of existing loans amounting to 190 million Euros and the completion of a debt-to-equity conversion (capitalization) of existing debt amounting to 74.9 million Euros.