BABIS VOVOS INTERNATIONAL TECHNICAL S.A.

Reply to ATHEX Letter

Regarding the letter with ref. no 30315/13.7.2007 that you have sent us and the recent electronic press articles, that refer to the sale of the company to private equity funds, we would like to inform you that there is no such agreement between the controlling shareholder and any private equity or other investment fund for the sale of all or part of the BVIC shares, owned by the controlling shareholder.