AXON HOLDINGS S.A. hereby announces that, in accordance with applicable law (Laws No. 3371/2005 & No. 3556/2007) and in application of its previous resolutions no. 1/380/4.5.2006 and no. 3/387/19.6.2006, the Board of Directors of the Capital Market Commission, based on resolution no. 7.9/443/06.09.2007, gave permission for the sale of 19,824 tangible registered shares of the company AXON HOLDINGS S.A. which have not been deposited for dematerialization and of shares coming from corporate actions which have been issued in dematerialized form in favor of the beneficiaries of tangible shares. Thursday, 20 September 2007 is set as the commencement date of the share sale period. The sale will be performed in accordance with the stipulations set out in resolution no. 1/380/4.5.2006 made by the Board of Directors of the Capital Market Commission and in article 99A of the Regulation of the Athens Stock Exchange. AXON SECURITIES S.A. is appointed as the member of the Athens Stock Exchange responsible for carrying out the sale of the above shares. The result of each sale period will be announced to the shareholders in the ways described in article 18 of Law No. 3371/2005. The net product of the sale will be deposited proportionately to the Deposits and Loans Fund in favor of all beneficiaries. Following the completion of the sale, AXON HOLDINGS S.A. will send personal letters to beneficiary-shareholders informing them on the result of the sale, the amount deposited for them and the procedure and documentation required for collecting the said amount.