AVAX S.A.

Increase of participation in Athena SA to 65,37%

In accordance with Article 282 of the Athens Stock Exchange Regulation, J&P-AVAX S.A. announces the purchase of 186.547 shares of Athena SA at Euro 1,67 / share, for a total consideration of Euro 311.533,49 on July 17, 2007. Following the transaction, J&P-AVAX S.A. controls 65,37% of Athena SA's share capital.