A. Parent Company "ALBIO HOLDINGS S.A."
- The total pretax earnings for the first nine months of the year 2003 amounted to 1,061, 524 Euros compared with the amount of 719,306 Euros for the corresponding period of the year 2002. This 47,5% rise results mainly from the increased dividends of the subsidiaries of the profit and loss accounts of the year 2002 as well as from the reduction of expenses.

B. ALBIO GROUP
- The net sales of the group amounted to 57.46 million Euros during the first 9 months of 2003 compared with those the corresponding period of 2002 that amounted to 59.69 million Euros, that is a 3.73% reduction.
- The GROUP'S exports amounted to 22.37 million Euros during the 9-month period of 2003 compared with the exports amounting to 24.07 million Euros during the respective period of the year 2002. Exports constitute the 39% of the turnover. The exports fall by 7.06% was realised after March 2003 at the same time that the military events in IRAQ took place and came as a result of the international negative economic conjuncture.
- During the aforementioned 9-month period of 2003 the GROUP presented pretax earnings, also following the deduction of minority rights amounting to 889,951 Euros compared with the earnings amounting to 616,604 Euros during the corresponding period of 2002, that is a 44.33% rise.

Despite the small reduction in sales during the 9-month period, the GROUP managed to improve the gross profit rate from 22.84% (in 2002 for the respective period) to 24,26%.

C. The estimations of the GROUP?s Management for the current financial year 2003 are the following:
- The net sales shall amount to approximately 77-80 million Euros compared with 80.2 million Euros in 2002.
- The earnings after tax and after the deduction of minority rights shall increase by 40% and shall amount to 2.1 million Euros.

It must be taken into account that, during the past five years, investments amounting to more than 44 million Euros (2002=6.42 million Euros, 2001=8.37 million Euros, 2000=14.45 million Euros and 1999=10.12 million Euros) have been realised that concern mainly the modernisation of the mechanical and mechanical engineering equipment of the two biggest subsidiaries, i.e. EXALCO S.A. and BIOKARPET S.A. Further investments are also expected to take place during the current financial year 2003 (during the past nine months investments amounting to 5.1 million Euros have also been realised).

The GROUP'S Board of Directors believe that, following their reorganisation and the investments that were realised, the subsidiaries have improved their competitiveness to a great extent as well enhanced their productive capacity; as a consequence they will be able to increase their turnover in the future and, consequently, their net profit.