AVAX S.A.

Increase of participation in Athena SA to 66,45%

In accordance with Article 282 of the Athens Stock Exchange Regulation, J&P-AVAX S.A. announces the purchase of 351.112 shares of Athena SA at Euro 1,67 / share, for a total consideration of Euro 586.357,04 on July 19, 2007. Following the transaction, J&P-AVAX S.A. controls 66,45% of Athena SA's share capital.