AVAX S.A.

Reply to ATHEX letter

In response to a question put forward by the Athens Stock Exchange regarding a press report according to which plans are again considered for a merger between J&P-AVAX SA and J&P Overseas Ltd, we declare that our Company is unaware of any such development.
Should there be any change in these circumstances, we shall inform the investment public and the stock market authorities in accordance with pertinent legislation.