K. ΚΑΡΔΑΣΙΛΑΡΗΣ & ΥΙΟΙ Α.Ε.Β.Ε.

The company announces a revision of its projections for FY 2006 financial results

The company Constantinos Cardassilaris & Sons S.A. - CARDICO with the opportunity of its corporate presentation during the '1st Annual Greek Roadshow', organized by the Athens Stock Exchange on September 20th and 21st, 2006 in London, taking into account the economic conditions formed in the international dried nuts markets, announces a revision of its projections for FY 2006 financial results, as they are presented in the above Roadshow and have been published in the company's site. More specifically, consolidated sales are expected to stand at Euro 199.2 mil. over Euro 234.8 mil. Respectively, in 2005, EBITDA are expected to amount to Euro 10.5 mil. over Euro 18.2 mil. in the respective period of 2005, profit before tax is expected to amount to Euro 7.7mil. over Euro 12.2 mil. in 2005, FY 2006 consolidated earnings after tax and minorities are expected to stand at Euro 5.8mil. over Euro 7.5mil. in 2005. The shortfall in figures of the revised provisions are attributed to the sudden and unexpected fall marked within 2006 in prices of raw materials directly related to CARDICO's operating activity. At the same time, the Management's decision to fully abide to the terms of its Almond kernel purchase contracts, despite the downright fall of prices internationally and the nullification of sales contracts from its clients, results to a negative revision of profitability provisions. The decision to fully execute the company's suppliers contracts falls into the company's effort to enhance its credibility and status in the markets it operates without endangering long-term procurement agreements. The respective 2007 provisions are expected to stand as follows: consolidated turnover is expected to amount to Euro 228 mil., EBITDA are expected to reach Euro 19.4 mil., whereas results before taxes are expected to stand at Euro13.5 mil. Finally, FY 2007 consolidated earnings after tax and minorities are expected to stand at Euro 9.2 mil.