In reply to the letter by the Securities and Exchange Commission dated 17.5.2007 and under prot. no. 2019 regarding what was published in e-press of 16.5.2007, we would like to inform you about the following:
The company REDS, in the framework of exploring the utilization of its assets, is negotiating with the British investment house Henderson and the German store chain Praktiker.
Furthermore, concerning what was mentioned in the publication as far as the agreements with MACARTHURGLEN and LA SOCIETE GENERAL IMMOBILLIERE ESPAGNE, the company has made relevant announcements in the past.