K. ΚΑΡΔΑΣΙΛΑΡΗΣ & ΥΙΟΙ Α.Ε.Β.Ε.

Announcement concerning the fire that broke out to the
main plant (plant A) of the company on 20.1.2003

The company announces that on Monday, 20.01.2003 at 04:30 a.m., a fire broke out, due to unknown, so far, reasons, to a section of the main plant A of the company at 152, Orfeos street, Votanikos. The Fire Department, which was called by the company security, put most of the fire under control, following co-ordinated efforts. It is not possible, at the time being, to estimate the damage because the fire has not been fully distinguished yet. The company's administration assures that this event will not hinder the smooth business operation of the company, which will be substituted by the units of the subsidiary and associated companies in Greece and overseas (Xirofruit S.A., Sdoukos S.A., Trofini S.A., Nut Company S.A., Sifakis S.A. Echalie France S.A). The software of the company was is stored in plant B is not damaged. The orders' and information files have been saved. Furthermore, the completion of the new plant in Schimatari, in a short period, will help in the fast recovery of the production and trade activity of the company. Raw staff and packaging materials are already in the custom and the warehouses of the suppliers. New machinery has already been ordered. It is noted that building A has been transferred to Alpha Leasing S.A. and the company has signed a sale & lease back of 15-year duration. The company is fully insured, both as regards its assets and any indirect or consequential damage.