AVAX S.A.

Increase of participation in Athena SA to 66,62%

In accordance with Article 282 of the Athens Stock Exchange Regulation, J&P-AVAX S.A. announces the purchase of 54.930 shares of Athena SA at Euro 1,67 / share, for a total consideration of Euro 91.733,10 on July 23, 2007. Following the transaction, J&P-AVAX S.A. controls 66,62% of Athena SA's share capital.