M.J.MAILLIS GROUP is announcing its Consolidated Financial Results for the First Half of 2003.

• Consolidated Sales of euro 146,5 mln versus euro 147,5 mln in the First Half of 2002.

• Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of euro 25,2 mln versus euro 27,0 mln in the First Half of 2002.

• Consolidated Earnings before Tax (E.B.T.) of euro 11,1 mln versus euro 13,8 mln in the First Half of 2002.

As It is known 97% of M.J.MAILLIS GROUP sales are realised outside Greece. The international markets have gone through an exceptional downturn during the first six months of the year which was even further affected by the uncertainty of the Iraq situation and concerns over SARS virus.

The decrease of Earnings Before Taxes (E.B.T.) comes mainly from lower extraordinary gains, due to the dollar vs Euro decrease and the lower income from synthetic swap deposits.

There are already signs of recovery in U.S.A. and Europe. M.J.MAILLIS GROUP order books in July and August confirm this trend. This development creates valid expectations for further improvement as we move towards the end of the year.

It is clear that in such a case M.J.MAILLIS GROUP Financial Results will be substantially improved.

For more information, please contact our Group's Investor Relations Department (Mrs. Lina Dede, Investor Relations Officer, tel. +30 210 6285194 or e-mail : lina.dede@maillis.gr)