AVAX S.A.

Announcement on important trade information (law 3556/2007).

Pursuant to Law 3556/2007, J&P-AVAX SA announces the following transactions on 23.10.2008 on its shares by insiders and related legal entities and private investors (as per Article 13 of Law 3340/2005):
- purchase of 15,000 shares for a total consideration of euro 31,090,68 by a legal entity related to its Chairman Mr Leonidas Joannou- purchase of 30,000 shares for a total consideration of euro 62,475.65 by its CEO Mr Constantine Mitzalis.
- purchase of 1,000 shares for a total consideration of euro 2,110.00 by Mrs Xaviera Kouvaras, a close relative of its Deputy Chairman Mr Constantine Kouvaras
- purchase of 1,000 shares for a total consideration of euro 2,110.00 by Mrs Chrysavgi Kouvaras, a close relative of its Deputy Chairman Mr Constantine Kouvaras
- purchase of 8,700 shares for a total consideration of euro 17,866.00 by Mrs Margarita Gerarhakis, a close relative of its Vice President Mr Nikolaos Gerarhakis.