AVAX S.A.

Announcement pursuant to Law 3556/2007.

Pursuant to Law 3556/2007, J&P-AVAX SA announces the following transactions dated 04.09.2008 on its shares by private investors related to insiders (as per Article 13 of Law 3340/2005):
-purchase of 4,525 shares for a total consideration of euro 17,599.50 by Mrs Xaviera Kouvaras, a close relative of its Deputy Chairman Mr Constantine Kouvaras.
-purchase of 4,430 shares for a total consideration of euro 17,232.80 by Mrs Chrysavgi Kouvaras, a close relative of its Deputy Chairman Mr Constantine Kouvaras.