In accordance with Law 3556/2007 as well as decisions 1/434/03.07.2007 and 33/03.07.2007 of Greece's Capital Markets Commission, J&P-AVAX SA announces the following transactions dated 24.05.2012 on its shares by insiders (as per Article 13 of Law 3340/2005):

• purchase of 9,750 shares for a consideration of euros 5,687.75 by D&S JOANNOU (INVESTMENTS) LTD, a legal entity related to Board Chairman Mr Leonidas Joannou and Executive Director Mr Christos Joannou
• purchase of 10,000 shares for a consideration of euros 6,136.00 by Executive Director Mr Constantine Lysarides

Marousi, May 25, 2012

Corporate Disclosure Service