Delta Holding SA ("Delta Holding") announces that it has signed an agreement concerning the sale of its 96.53% shareholding in Delta Ice Cream SA ("Delta Ice Cream") to Nestlι Hellas SA ("Nestle").

Delta Ice Cream is a company listed on the Athens Stock Exchange and has ice cream operations in Greece, Bulgaria, FYROM, Romania, Bosnia, Serbia and Montenegro. It had consolidated turnover for the year ended 31 December 2004 of ? 122 million.

The agreed enterprise value for the company is ? 240 million, which includes total debt as of September 30th 2005. The final price per share will be determined after taking into account the total debt immediately prior to closing of the transaction. As an indication, and on the basis of the level of indebtedness as of 30 September 2005, the price per share payable to Delta Holding is estimated to be ? 6.22.

The agreement is conditional, inter alia, on the approval of the appropriate regulatory authorities, expected to be by spring 2006. Following the completion of the transaction Nestlι shall make a mandatory offer for the remaining shares of Delta Ice Cream.