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 and related activities dated 12.01.2012 on its shares by insiders (as per Article 13 of Law 3340/2005):

• purchase of 1,930 shares for a consideration of €1,125.00 by D&S JOANNOU (INVESTMENTS) LTD, a legal entity related to Board Chairman Mr Leonidas Joannou and Executive Director Mr Christos Joannou
• opening of an omnibus account by Managing Director Mr Constantine Mitzalis and his close relatives Mrs Efrosyni Mitzalis and Mrs Eleni Mitzalis, in which Mrs Efrosyni Mitzalis on 12.01.2012 transferred 150,000 shares from a personal investment account
• purchase of 1,870 shares for a consideration of €1,092.60 by Mrs Xaviera Kouvaras, a close relative of Deputy Chairman Mr Constantine Kouvaras
• purchase of 1,870 shares for a consideration of €1,092.20 by Mrs Chrysavgi Kouvaras, a close relative of Deputy Chairman Mr Constantine Kouvaras

 Marousi, January 13, 2012

Corporate Disclosure Service