In accordance with Law 3556/2007 as well as decisions 1/434/03.07.2007 and 33/03.07.2007 of Greece's Capital Markets Commission, J&P-AVAX SA announces the following transactions dated 28.12.2011 on its shares by insiders (as per Article 13 of Law 3340/2005):

• purchase of 9,369 shares for a consideration of €5,548.09 by D&S JOANNOU (INVESTMENTS) LTD, a legal entity related to Board Chairman Mr Leonidas Joannou and Executive Director Mr Christos Joannou
• purchase of 7,604 shares for a consideration of €4,410.32 by Executive Director Mr Constantine Lysarides

Marousi, December 29, 2011

Corporate Disclosure Service