- Consolidated Turnover (Sales) increased by 11.9%, from 437.8 million EUR in the first half year of 2005 to 489.8 million EUR in 2006, while for "ALFA-BETA" standalone Turnover (Sales) amounted to 477.5 million EUR from 425.8 million EUR in 2005, an increase by 12.2%.
- Consolidated Profit before Tax was significantly improved in comparison with the first half year of 2005, and amounted to 9.0 million EUR, from 5.2 million EUR in 2005. For "ALFA-BETA" standalone Profit before Tax amounted to 8.3 million EUR compared to 5.0 million EUR in 2005.

Our business in first six months of 2006: During the first half year of 2006, "ALFA-BETA" continued its dynamic commercial policy that consistently offers to its customers the finest product assortment at an ever-improving value for money. Furthermore, in the second quarter "ALFA-BETA" rewarded its customers' loyalty through targeted promotional programs on the occasion of ten years of successful implementation of its loyalty card, AB plus. During Q2 2006, "ALFA-BETA" continued its development activity and six new stores were added to its sales network, which at the end of first half year numbers 142 sales points, including 106 retail stores, 10 cash-and-carry stores and 26 franchise stores. In May, a new supermarket was inaugurated in Aigaleo, a large modern store with a sales area of 1,720 sq.m. on two levels, a parking area of 90 spaces and 71 employees. A new store located in Petralona was opened in June. It has a sales area of 1,835 sq.m. on two levels, a parking area of 60 spaces and employs 64 persons. Moreover, in June a new supermarket was inaugurated in Larissa, Thessaly, the first store that the company operates in this area. It has a sales area of 1,450 sq.m., a parking area of 80 spaces and employs 61 persons. In parallel with the new company-operated stores, in the second quarter three new franchise stores were opened, two ΑΒ Food Market in the provinces and one ΑΒ Shop & Go in Attica.

FIRST HALF YEAR OF 2006 RESULTS
In the first half year of 2006, Consolidated Turnover (Sales) reached 489.8 million EUR, an increase by 11.9% due to Company's dynamic commercial policy and the opening of new stores. Consolidated Gross Profit increased by 11.4% from 92.7 million EUR in 2005 to 103.3 million EUR in the first half year of 2006. This increase, higher than that of sales, confirms the success of the commercial policy and the effective inventory management of the Company. Consolidated Operating Expenses increased by 7.3% from 88.1 million EUR in 2005 to 94.5 million EUR in 2006. This increase, which is lower than that of sales and of gross profit, reflects the Company's efforts to reduce operating costs and strengthen its competitiveness. Consolidated Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) amounted to 18.5 million EUR in against 13.5 million EUR in 2005, showing an increase by 36.8% due to the increase in sales and gross profit and to lower operating expenses. For the same reason Consolidated Operating Profit increased to 10.2 million EUR from 6.0 million EUR in the first six months of 2005. Consolidated Profit before Tax amounted to 9.0 million EUR from 5.2 million EUR in 2005 and Consolidated Profit after Tax reached 5.5 million EUR against 3.6 million EUR in 2005.

2006 OUTLOOK
For 2006, "ALFA-BETA" VASSILOPOULOS plans to realize an acceleration of its opening program, by adding 19 stores to its network, franchise stores included, extending it to 154 stores.

"ALFA-BETA" VASSILOPOULOS S.A.
"ALFA-BETA" VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2005, the group "ALFA-BETA" operated 135 stores (101 retail sales points, 10 Cash-and-Carry stores, & 24 franchise stores) and employed 6,744 people. In 2005, Consolidated Turnover amounted to EUR 908.0 million and Consolidated Net Profit beforetax to EUR 22.1 million. "ALFA-BETA" VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.