AVAX S.A.

Announcement pursuant to Law 3556/2007

Pursuant to Law 3556/2007, J&P-AVAX SA announces the purchase of 6,820 shares of J&P-AVAX SA for a total consideration of euro 37,745.04 on 22.01.2008 by a legal entity related as per Law 3340/2005 to its Chairman Mr Leonidas Joannou (designated an insider under Article 13 of Law 3340/2005).
Also pursuant to Law 3556/2007, J&P-AVAX SA announces the purchase of 13,115 shares of J&P-AVAX SA for a total consideration of euro 76,520.40 on 22.01.2008 by Mrs Efrosyni Mitzalis, a close relative of its Managing Director Mr Constantine Mitzalis (designated an insider under Article 13 of Law 3340/2005).