M.J.MAILLIS GROUP is announcing its Consolidated Financial Results for the Full Year 2004:

• Consolidated Sales of euro 341.1 mln versus euro 296.0 mln in 2003, corresponding to an increase of 15.3%.

• Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of euro 59.5 mln versus euro 50.0 mln in 2003, leading to an increase of 19.0%.

• Consolidated Earnings before Taxes (E.B.T.) of euro 25.9 mln versus euro 21.3 mln in 2003, corresponding to an increase of 21.6%

In 2004 the Group achieved its strategic objective of 15% top line organic growth. Profits increased at a higher rate than sales, while in the second half of the year, cash flow generation improved leading to a euro 7mln reduction in net debt.
Having completed the integration and restructuring of its acquisitions, the Group΄s financial performance in 2004 testifies to the successful implementation of its growth strategy.

The Parent Company in Greece, "M.J.Maillis S.A.", achieved record sales of euro 130mln vs euro 94.9mln in 2003, posting a 37% increase, and EBITDA of euro 22.5 mln compared to euro 16.0mln in 2003, up 41%.

The Group's management will propose dividend payment of euro 0,05 per share for 2004.

In 2004 the Group proceeded with the following important actions:
i. Strengthened its management team.
ii. Refocused and restructured the sales force: migrated from product selling to systems selling and increased the Group's sustainable competitive advantage.
iii. The Group is well poised to exploit the US market through its investment in a production facility in South Carolina, scheduled to start up in mid-year. This investment together with the Group΄s established machines business create the "springboard" for aggressive expansion similar to the one achieved in Europe.
iv. Completed successfully the investment in the development of the new range of automatic packaging machines which completes the Group΄s product range with "cutting edge" technology that gives our customers increased competitiveness.

Having successfully completed the integration of its acquisitions, the Group increases its global awareness with its new unique corporate identity.

In 2005, the Group targets top line organic growth close to 15%, which will stem from increasing its market share in Europe, growing its presence in the US and penetrating new markets like Turkey, Russia and Ukraine.

For more information, please contact our Group's Investor Relations Department (Mrs. Alexandra Konida, Investor Relations Director, tel. +30 210 6285202 or e-mail : alexandra.konida@maillis.gr)