In accordance to paragraph 9d of article 275 of the Athens Stock Exchange Regulation, Elmec Sport SA announces that the regular tax audit for the financial years 2004 and 2005 has been completed. Additional taxes amounting to 1.280.536 euros in total came out of the audit. The company had formed an applicable provision of 400.000 euros.
With regard to the financial statements for the first semester 2006, which are currently under preparation, the completion of the tax audit in the current period is considered as an "Event After the Balance Sheet Date" according to IAS 10, therefore an expense of 880.536 euros will be recognised in the income statement of the first semester of 2006 (specifically of the 2nd quarter).