ELBISCO HOLDING S.A.?s gross profits increased for the 3rd quarter 2003 amounting to 550,000.61 euros compared to 265,272.60 euros that they were during the same period last year. The Earnings Before Taxes of ELBISCO HOLDING S.A. for the said period were approximately 21,315.04 euros.

As far as the consolidated financial results of ELBISCO HOLDING S.A. are concerned, there was a slight downfall in the company?s sales, which this year amounted to 127,927,799.92 euros. This slight fall in the sales is due to the lagging of the foreign companies Zito Luks A.D. Scopje and Karat Bulgaria S.A., which are in a phase of restructuring and yet their operational profits mark an increase. Another reason for this fall is the extraction of the sales of the EVGA juices, which are distributed by the domestic company of the ELBISCO Group, Elbisco Commercial S.A.

It must be noted that EVGA?s juices stopped being distributed within the framework of the rationalization being made in the operation of the FILIPPOU INVESTMENTS Group and given that the said product is not integrated in Elbisco?s activities and does not comply with its strategy, which is from now on focused on cereal-based products.

On the other hand, the net profits of the Elbisco Group marked an increase, amounting to ?1,085,146.05 for the 3rd quarter 2003 compared to 96,127.96 euros during the same period last year. Finally, the Group?s EBITDA marked a marginal year-on-year increase reaching ?10,875,099.08 from 10.055.653,48 euros.