INCREASE IN SALES BY 15.0%, OPERATING PROFITS (EBITDA) INCREASED BY 17.0%

Athens, August 31st 2004. M.J.MAILLIS GROUP is announcing its Consolidated Financial Results for the First Half of 2004.

• Consolidated Sales of euros 168.5 mln versus euros 146.5 mln in the First Half of 2003, corresponding to an increase of 15.0%

• Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of euros 29.5 mln versus euros 25.2 mln in the First Half of 2003, leading to an increase of 17.0%

• Consolidated Earnings before Tax (E.B.T.) of euros 12.0 mln versus euros 11.1 mln in the First Half of 2003, posting an increase of 8.2%.

M.J.Maillis Group, following the successful integration of the previous years? explosive growth, is exploiting its accumulated potential and generates substantial internal growth.

Taking into account that the Group faced in the first half of 2004 raw material shortages, due to the international market developments, as well as the obstructive effects of the delayed SAP implementation in Italy, it is reasonably expected that having put an end to these problems the second half 2004 financial results will be further improved.