Peania, March 10, 2004 - In the context of the company's continuous growth, Lavipharm S.A. announces that an agreement has been signed for the acquisition of the 40% of Lavipharm Alliance Sante S.A. (LAS) from Alliance Sante Distribution S.A., a subsidiary of Alliance Unichem. With this purchase, Lavipharm, which already possessed 60%, will now own 100% of the share capital of LAS S.A..

Lavipharm Alliance Sante was founded in November 1994 with main shareholders Lavipharm S.A. and Alliance Unichem, a leading European healthcare group. Today, LAS is a leading wholesale and distribution company of pharmaceuticals, cosmetics and healthcare products in Greece. With six distribution centers in Athens, Thessalonica, Patras, Ioannina, Larissa and Kavala, its turnover in 2003 exceeded 152 million euros.

This purchase, in combination with the recent sale of its participation in Lavicosmetica, constitutes an integral part of Lavipharm's strategic development plan with the aim of further strengthening its entrepreneurial objectives and redirecting its investment portfolio in order to achieve significant capital gains, future growth and enhancement of its presence in the domestic pharmaceutical market.

Lavipharm is the largest integrated Group of companies engaged in the development, production, import, promotion and distribution of pharmaceutical, dermocosmetic and OTC products in Greece with a strong international activity. In 2003, its turnover reached 324 million euros.