AVAX S.A.

Announcement pursuant to Law 3556/2007

Pursuant to Law 3556/2007, J&P-AVAX SA announces the following transactions on 28.01.2008 on its shares by insiders and related legal entities and private investors (as per Article 13 of Law 3340/2005):
-purchase of 2,000 shares for a total consideration of euro 12,286.00 by a legal entity related to its Chairman Mr Leonidas Joannou
-purchase of 5,000 shares for a total consideration of euro 28,000.00 by its Executive Director Mr Constantine Lysaridis
-purchase of 6,700 shares for a total consideration of euro 36,945.80 by Mrs Xaviera Kouvaras, a close relative of its Deputy Chairman Mr Constantine Kouvaras
-purchase of 6,700 shares for a total consideration of euro 36,945.80 by Mrs Chrysavgi Kouvaras, a close relative of its Deputy Chairman Mr Constantine Kouvaras.