The Board of Directors of Elmec Sport SA wish to disclose that today, the 5th of October 2007, they received the following letter from "Homeric Department Stores Holdings SA": "Homeric Department Stores SA ("Homeric DS"), a company controlled by the Laskarides group of companies, announces that they accepted an offer by Hellenic Duty Free Shops SA ("HDFS") amounting to 4 euro per share against the whole of the shares (51.84%) of Elmec Sport SA held by Homeric DS. During the short period from the acquisition of Elmec Sport SA by Laskarides Group until today, Laskarides Group restructured the ownership relations within Elmec Sport Group by acquiring the substantial minority rights in the major affiliates of Elmec Sport ("Minion" and the "Factory Outlets"). Furthermore, with the sale of two ancillary real estate properties in Greece and Romania and by restructuring its debts, Laskarides Group substantially improved Elmec Sport's capital structure. Homeric DS decided to sell its shares to HDFS, not only thanks to the financial gains to come out from this deal, but also taking into account that HDFS, which are controlled by a renowned international business group, will offer know-how and goodwill to Elmec Sport's activities. Therefore, Homeric DS believes that this deal ensures the development and the improvement of Elmec Sport's operations to the benefit of the Company's personnel, shareholders and customers."