Revocation of the BoD decision and invitation to the Extraordinary General Meeting

Athens, Greece. The Company with corporate name "ALAPIS HOLDING INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME OF PHARMACEUTICAL & CHEMICAL PRODUCTS" and the distinctive title "ALAPIS SA" (hereinafter the Company) announces that, following the  decision of the Company’s Board of Directors dated 23.08.2011, its decision dated 05.08.2011 was revoked as well as its subsequent Invitation dated 05.08.2011 to the Shareholders to an Extraordinary General Meeting scheduled for Monday, 29.08.2011 at 08:00 a.m. in Athens, at the Company's headquarter on 2 Aftokratoros Nikolaou st., with sole issue of the daily agenda the increase of the nominal value of the shares of the Company with simultaneous reduction of the total number of shares (reverse split), as well as in case of no quorum the invitation of the shareholders to a repeat EGM on Friday 09.09.2011 at 09:00 in the same place.

This revocation follows the amendment of the ATHEX Rulebook and more specifically is due to the annulment of subparagraph (6) of paragraph 7.2.5, pursuant to the relevant approval of this amendment by virtue of the decision of the Board of Directors of the Hellenic Capital Market Commission No. 594/19.08.2011.

Consequently, the reasons for the convocation of the aforementioned Extraordinary General Meeting and more specifically the prevention of the transfer of the Company’s shares to the Low Free Float and Special Trading Characteristics category, due to the fact that the average closing price of the company’s share was lower than the €0.30 threshold, have elapsed.

For any further clarifications, please contact our Investor Relations department

Tel: +30 213 0175056

E-mail: ir@alapis.eu