ELMEC SPORT S.A.

Comments on Press Publication

Given the publication of an article on the website euro2day on the 16th of July 2007, according to which our Company is negotiating to sell its holding in The Craiova Mall, which is under construction, to Sonae Sierra Group, and after a relevant letter from the Hellenic Capital Market Commission, our Company has contacted the romanian legal entity Microcom Doi SRL, in whose shareholder capital our Group of Companies participates with 40%, and announces that the article is not valid. It is stressed out that Microcom Doi SRL, registered in Romania and controlled by 40% from our subsidiary Elmec Romania SRL, constructs The Craiova Mall in the romanian city Craiova.