- Annual increase in sales by 8% in 2007 and 2008
- Increase in EPS by 76%
DELTA HOLDING SA in view of the latest developments re the merger with Chipita International S.A. and its subsidiaries Delta Dairy S.A., General Frozen Foods S.A. and Goody's S.A. as well as the creation of the new company with the interim name "BrandCo", presented today March 16, 2006 to the investment community (analysts and institutional investors) and to the banking sector, the prospects and strategy of the new entity for the next years. Messrs. Dimitris Daskalopoulos, Chairman of Delta Holding S.A., Mr. Pandeli Economo, Chief Financial Officer of Delta Holding S.A. and Spyros Theodoropoulos, Chairman of Chipita International S.A. were present. According to the company's management, following the completion of the procedures, DELTA HOLDING S.A. becomes the largest company in the Greek food sector, a house of leading food brands with a significant scale in Europe. As such, "BrandCo" in its new form, gains significant opportunities for development in new geographical areas and new product markets as well as benefits from the synergies achieved, which will contribute to the increase in shareholders' value. It is noted that for 2006, and given the fact that the new entity will be operating only for a few months, the company estimates that the synergies achieved will be counterbalanced by any merger costs. As such, the positive results from synergies will be apparent as of 2007 and for the next few years.

Analytically, during 2007-2008:
- Sales will increase at a CAGR of 8% p.a., exceeding Euro 1 bi in 2007,
- EBITDA will increase with a CAGR of 14% exceeding Euro 180 mil in 2008,
- EBITDA margin is expected to increase by approx. 200 bp,
- FCF will be strengthened at an annual average growth rate of approx. 17% reaching Euro 100 mil. in 2008,
- EPS will increase altogether by 76%.

The synergies will arise from the reduction in the production cost as well as from the efficient utilization of the distribution network and marketing. Details are available on www.brandco.info.