AVAX S.A.

Announcement

Pursuant to Law 3556/2007, J&P-AVAX SA announces the purchase of 10,000 shares of J&P-AVAX SA for a total consideration of euro 60,350.90 on 18.01.2008 by Mrs Eleni Mitzalis, a close relative of its Managing Director Mr Constantine Mitzalis (designated an insider under Article 13 of Law 3340/2005).