AVAX S.A.

Comment on Press reports

J&P-AVAX would like to inform the investment public it has no equity or business relations with the Athens Ledra Hotel business. The Athens Ledra Hotel belongs to a business family which has an equity stake in a company, which in turn is a shareholder of J&P-AVAX.   The Athens Ledra Hotel business is an independent company, which J&P-AVAX has no participation in or relation to.
Marousi, July 07, 2016
THE BOARD OF DIRECTORS