FRIGOGLASS S.A.I.C. announces today Thursday 23rd February 2006, the completion of the sale to Selenis Hellas S.A. of its entire shareholding in V.P.I. S.A., i.e. 421,260 shares corresponding to 51% of V.P.I.'s share capital. Selenis Hellas S.A. is a Greek subsidiary of the Portuguese company Selenis S.G.P.S. S.A., which is one of the leading European producers of Pet resin and part of the Imatosgil Investimentos Group. As previously announced on December 15th 2006, the selling price for the shares amounts to Euro 15,000,000. Euro 12,000,000 was paid in today, while payment of the balance (amounting to Euro 3,000,000) is linked to V.P.I.'s sales remaining at their present level and will be settled in three equal annual installments by January 2009. The sale of V.P.I. S.A. shares is consistent with the strategy of the FRIGOGLASS GROUP's strategy, to focus on its core business, which is the manufacturing and selling of Ice Cold Merchandisers.