The Board of Directors of the companies: DELTA HOLDING S.A., GOODY' S S.A., GENERAL FROZEN FOODS S.A. and CHIPITA INTERNATIONAL S.A. announce that the Draft Merger Agreement dated 24.03.2006 concerning the merger with absorption of GOODY'S S.A. (the First Absorbed Company), GENERAL FROZEN FOODS S.A. (the Second Absorbed Company), DELTA DAIRY S.A. (the Third Absorbed Company) and CHIPITA INTERNATIONAL S.A. (the Fourth Absorbed Company) by DELTA HOLDING S.A. (the Absorbing Company) was registered, in compliance with the applicable legal procedure, in the company's registry of the Ministry of Development and the Prefecture of Athens on 30.03.2006 and 31.03.2006, respectively. The aforementioned draft agreement will be published in the daily financial press within ten days, as required by law, in order for the publicity formalities to be completed. According to the Draft Merger Agreement dated 24.03.2006, the suggested exchange ratios are: (a) The shareholders of the First Absorbed Company (except for the Absorbing Company, which holds 11.567.582 shares that will be cancelled without any conversion) will exchange one (1) old share of the First Absorbed Company for 1,046369140 new shares of the Absorbing Company, i.e. they will receive in total (4.712.919 Χ 1,046369140) 4.931.453 new shares of the Absorbing Company. (b) The shareholders of the Second Absorbed Company (except for the Absorbing Company, which holds 9.948.652 shares that will be cancelled without any conversion) will exchange one (1) old share of the Second Absorbed Company for 0,535407276 new shares of the Absorbing Company, i.e. they will receive in total (2.226.548 Χ 0,535407276) 1.192.110 new shares of the Absorbing Company. (c) The shareholders of the Fourth Absorbed Company will exchange one (1) old share of the Fourth Absorbed Company for 0,331901836 new shares of the Absorbing Company, i.e. they will receive in total (48.187.537 Χ 0,331901836) 15.993.532 new shares of the Absorbing Company. (d) The shareholders of the Absorbing Company will exchange one (1) old share of the Absorbing Company for one (1) new share of the Absorbing Company, i.e. they will receive in total 44.524.314 new shares of the Absorbing Company. According to the Capital Markets Legislation currently in force (article 289 of the Athens Exchange Regulation), the merging companies assigned to the independent auditing companies GRANT THORNTON S.A. and KPMG Kiriakou Auditors S.A. the valuation of the merging companies and the fairness opinion on the aforesaid suggested exchange ratios. The Draft Merger Agreement Plan dated 24.03.2006 is subject to the approval of the merger by the General Assemblies of the merging companies and the approvals and authorizations of the competent authorities required by law.