AVAX S.A.

Announcement pursuant to Law 3556/2007

Pursuant to Law 3556/2007, J&P-AVAX SA announces the following transactions dated 01.02.2008 on its shares by insiders as well as related legal entities and private investors (as per Article 13 of Law 3340/2005):
-purchase of 2,000 shares for a consideration of euro 11,228.80 by a legal entity related to its Chairman Mr Leonidas Joannou.
-purchase of 7,000 shares for a consideration of euro 38,960.00 by its Managing Director Mr Constantine Mitzalis.
-purchase of 6,000 shares for a consideration of euro 33,360.00 by Mrs Eleni Mitzalis, a close relative of its Managing Director Mr Constantine Mitzalis.
-purchase of 7,000 shares for a consideration of euro 39,040.00 by Mrs Efrosini Mitzalis, a close relative of its Managing Director Mr Constantine Mitzalis.