The Board of Directors' of the company under the name "Alapis Holding Industrial and Commercial Societe Anonyme of Pharmaceutical, Chemical and Organic products" with the distinct name "Alapis SA", (hereafter "the Company") according to its resolution dated 26.06.2008 and following the resolution of the Shareholders' General Meeting dated 04.02.2008, declares its intention to execute during the period from July 1st 2008 to February 4th 2010 a share buy-back program up to 10% of the Company's share capital, i.e. up to ninety eight million sixty thousand and twenty two (98.060.022) common shares, within the price range of euro 5 (upper limit) to euro 1 (lower limit). The purpose of the stock buy-back program is the decrease of the Company's share capital.