In relation with the recent fire in the company's yogurt production plant in Serres, the management announces the following:

1. Based on an initial assessment, the damage amounts €18.75m. Since all damaged premises and content were adequately insured, no loss is expected to be charged in income statement. The time horizon of the receipt of insurance compensation cannot be determined yet. In any case, the whole process is expected to conclude within 2014.
2. To restore the operation of the yogurt factory, a business plan for the reconstruction of a new plant on the same site has already been prepared. With the new plant, full restoration of yogurt production operation is expected within 2014. To finance the new investment, the company will use existing cash at first. Besides, the company started negotiations with insurance companies in order to receive a part of the compensation in advance, and also with banks to secure new funding lines.
3. For covering temporary production needs, the company has already entered into agreements for outsourcing its full production to other third party Greek production units. Hence, it is not expected to experience any significant stock-outs or unfulfilled orders of customers in Greece or abroad.

The management and all personnel of the company makes every possible effort to mitigate the impact of this unfortunate event, seeing it as a new challenge and an opportunity for the future.