AVAX S.A.

Announcement

The Company announces that the purchase of Athena SA shares on 24.07.2007 resulted in a change in voting rights past 2/3 of total.In accordance with Law 3556/2007, J&P-AVAX SA announces the purchase of 50,504 shares of ATHENA SA on 24.07.2007, raising its percentage of voting rights in ATHENA SA to 66.73% from 66.62% (change in voting rights past 2/3).