AXON S.A. HOLDING

Election of a new managing director and new composition of the board of directors

ΑΧΟΝ Holdings S.A. hereby informs shareholders and investors that by decision of the board of directors (dated May 21 2007), resigning managing director Vasiliki Stamataki is replaced in the post by company chairman Apostolos D. Terzopoulos.
Loukas S. Liakos is appointed to the board as a new non-executive member.