The Company having completed within 2002 its business restructuring is progressing in year 2003 towards the realization of the goals, which have been set.
The Company's immediate goals are:

Outside Greece:

-The growth of the international markets Towards this goal

- A broad research plan is under realization through its subsidiary companies in Greece as well as in Europe and the USA in general.

In Greece, for the aforementioned purpose, a new research center of agronomic seeds has been established in the Viotia region, which continues its research for new plant varieties.

At the same time the development of research programs for gardening products is under progress, which constitute a dynamic market.

Simultaneously, the research programs in Europe and the US are under progress by companies, which the group participates in.

In parallel, the promotion and development of its products is growing fast, in countries of the Mediterranean and the Middle East through the continuous staffing of its subsidiaries in the particular areas.

The growth of the sales network will be reinforced also through the operation of the new trade center in Northern Greece and the Balkans, in the industrial region of Sindos in Thessaloniki.

The growth of the foreign markets except from the total increase in results will contribute also to the smoothing of their development during the fiscal year, through the decrease in seasonality of the company's activities.

In Greece

-The further activation of the Ornamental Landscaping Division through expansion
-Of the range of products in substrate plants and specialized fertilizers.
-Of its sales network so that it will cover the retail sale spots as well.

-The further growth of the agronomic seeds and vegetables divisions through the

-Development and promotion of an improved range of products with significant advantages for the total of the supplying chain in cotton, corn, tomato and others.

In the first quarter, this effort was accompanied by negative economic conditions and also by a delay of the cultivating period as a result of the continuous rainfalls until mid April.

During the first quarter of 2003 turnover notes a decrease compared to the first quarter of 2002 since the quantities of agronomic (cotton) and gardening seeds were sold in April due to the delay in the cultivating period. Thus, turnover amounted to 8,238,762.87 euros versus 10,451,804.54 euros in the first quarter of 2002.

Gross profit margin has reached a satisfactory level, confirming the company's estimations for high efficiency.

Operating expenses decreased by 19% compared to the first quarter in 2002, a fact that combined with the continuous growth of the company proves the increase in efficiency.

Profits decreased and amounted to 2,971,038.45 Euros in 2003 from 4,299,568.21 Euros in the first quarter of 2002.

The Company's management anticipates that the aforementioned activities, gradually and constantly, will affect positively the company's results and will constitute the foundations for its future growth.