"ALFA-BETA" VASSILOPOULOS S.A. informs the investors that type of the Report on Review of Interim Financial Information for the period 1 January - 30 June 2007 changes from "unqualified opinion" to "qualified opinion". The qualification of the Certified Public Accountant relates to the individual results for the second quarter of 2007 which were not subject to review independently. PD360/1985 provides for the review of the interim financial information and results for the six month period as a whole.
Report on Review of Interim Financial Information
To the Shareholders of "ALPHA-BETA VASSILOPOULOS S.A."
We have reviewed the accompanying condensed balance sheet of "ALPHA-BETA VASSILOPOULOS S.A." (the "Company") and the condensed consolidated balance sheet of the Company and its subsidiary (the "Group") as of 30 June, 2007 and the related condensed interim income statement, cash flows statement and statement of recognised income and expense of the Company and the Group for the six-month period then ended, as well as the condensed interim explanatory notes. Management is responsible for the preparation and fair presentation of this interim financial information in accordance with International Financial Reporting Standards as adopted by the European Union and apply to interim financial reporting ("IAS 34"). Our responsibility is to express a conclusion on this interim condensed financial information based on our review.
Scope of Review
Except as explained in the following paragraph, we conducted our review in accordance with the International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", to which the Greek Auditing Standards refer. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Greek Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly we do not express an audit opinion.
Basis for Qualified Conclusion
Our review was performed for the six month period as a whole, and did not include the review of the individual financial information and results for the second quarter of 2007 separately, which are presented in the attached financial information.
Conclusion
Based on our review, except for the adjustments to the interim financial information for the second quarter of 2007 that we might have become aware of, had we conducted a review of the financial information and results for that quarter, nothing has come to our attention that causes us to believe that the accompanying interim financial information is not prepared, in all material respects, in accordance with IAS 34.
Without qualifying our report, we draw your attention to note 17.1 to the interim condensed financial information which refers to the tax position of the Company and the Group and especially the unaudited fiscal years. The liability, if any, that may result from such audits can not be estimated with reasonable accuracy, and hence no provision has been made.