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 29.12.2011 on its shares by insiders (as per Article 13 of Law 3340/2005):

• purchase of 2,800 shares for a consideration of €1,707.10 by D&S JOANNOU (INVESTMENTS) LTD, a legal entity related to Board Chairman Mr Leonidas Joannou and Executive Director Mr Christos Joannou
• purchase of 200 shares for a consideration of €120.00 by Executive Director Mr Constantine Lysarides

Marousi, December 30, 2011

Corporate Disclosure Service