ALAPIS S.A. announces that pursuant to its business plan and using the funds from the recently completed share capital increase via a rights issue, proceeded to the acquisition of a 100% stake in Pharmacare Ltd. The acquisition cost for the company's capital amounted to euro 950.000. Pharmacare Ltd was incorporated in 1988 and is headquartered in Nicosia, Cyprus. The company distributes veterinary products on behalf of BAYER HEALTH CARE AG, LOHMANN ANIMAL HEALTH, BOEHRINGER INGELHEIM, DANISCO, IQF, 3M, AGROLABO, INTRACARE in the Cyprian market. Pharmacare Ltd is going to incorporate all current activities carried in Cyprus, by Alapis's subsidiary, Alapis Pharma Ltd. In 2007, Phamacare Ltd sales amounted to euro 1.826th. EBITDA to euro 434 th. and earnings after taxes to euro 314 th.