Athens, March 1st 2004. M.J.MAILLIS GROUP is announcing its Consolidated Financial Results for the year 2003.

• Consolidated Sales of 296,0 mln euros versus 310,9 mln euros for 2002.

• Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of 50,0 mln euros (17% on sales) versus 54,5 mln euros (17,5% on sales) in the respective period of 2002.

• Consolidated Earnings before Tax (E.B.T.) of 21,3 mln euros versus 26,2 mln euros in the year 2002.

2003 was a difficult year with obvious adverse effects in the international economy, marked by the recession and important incidents such as the war in Iraq and the Euro revaluation. The negative international economic environment affected by definition M.J.MAILLIS GROUP, which is mainly active in the Global markets. As it is known 97% of the Group sales are realized outside Greece.

If we exclude the effect of the extensive devaluation of US Dollar, UK pound and several other Eastern European currencies, Group sales would have reached the level of ? 318,0 mln. The main cause for the reduction of profitability was the significant FX differences, without which 2003 profitability ratios would have remained in the same level with 2002.

During this difficult year, M.J.MAILLIS GROUP materialised substantial industrial investments (mainly in Italy - SIAT), and implemented major infrastructure improvements.

The Group's successful restructuring and streamlining process had already positive effect which is obvious in the area of costs and expenses even in absolute terms.

2004 starts quite differently. M.J.MAILLIS GROUP is also different. Having already completed its restructuring and integration effort, the Group is stronger, more efficient than ever and far more competitive. Big Global accounts in Europe and North America (Wal-Mart, Coca-Cola, Agfa Group, Smurfit etc.) are confident about the Group?s technology, products and services, signing long-term contracts.

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)