ΕΛΒΑΛ Α.Ε.
Tax audit results.
In application of the provisions of paragraph 4.1.3.1 of the Regulation of the Athens Stock Exchange and of paragraph 1 of article 10 of Hellenic Law 3340/2005, it is hereby announced that the competent tax authorities conducted an Ordinary Tax Audit of the company's fiscal years 2006 - 2007, which was completed in January 2009. Accounting differences in the amount of 1,059,481 Euros arose from the said tax audit, against which an income tax in the amount of 285,597 Euros plus a surcharge in the amount of 52,484 Euros was charged. In other words, the company was charged with a total amount of 338,081 Euros. This amount, due to the fact that it was paid in a lump sum, was reduced by 5% and the final amount that the company paid amounted to 321,077 Euros. The company has already burdened, in the form of a provision, its financial statements of 31 December 2007 with an amount of 348,800 Euros.