Referring to the letter, dated at 28/6/2006, of the Athens Exchange SA, Elmec Sport SA announces the following:
(i) We estimate that the new activities that were added to the third section of the company's article of association, in accordance with the relevant decision of the Annual General Meeting that took place on the 23rd of June 2006, a summation of which has already been published to the Daily Official List, will not contribute significantly to the financial position of the Company, thus these new activities do not fall into the provisions of the article 287 of the Athens Exchange Regulation.
(ii) These new activities do not require any type of administrative or other legal permissions to be acquired by the Company.
(iii) During the aforementioned Annual General Meeting the Managing Director of the Company made announcements and replied to the shareholder's questions regarding the future investment plans and the financial perspectives of Elmec Sport Group of Companies. The Company regards that the announcements in the Press after the Annual General Meeting and specifically between the 24th and 27th of June, reflect correctly the issues mentioned during the Meeting.