Further to your letter and with reference to the press articles published, M.J. MAILLIS S.A. points out the following:
1. During the presentation made to the Association of Members of the Athens Exchange on 11/05/2006, the Company's management reported that apart from the expansion in North America, priority is also given to the Turkish and Middle East regions (relevant reference is made in the Press Release issued on the same date). In both Turkey and Middle East (including Saudi Arabia and Dubai), the Company is examining various options for joint ventures, for which, discussions are still at preliminary stages, and therefore the disclosure of further information is not considered appropriate at this time.
2. It is clarified that the Company did not abandon its expansion plans for the Russian and Ukrainian markets, as mentioned in some press articles, but, at the given point in time, priority is placed on the Turkish and Middle East markets.
3. Having as primary concern to provide timely and complete information to the investors' community, the Company is going to proceed with announcements as soon as the negotiations mature.