In response to the letter 15.05.2007 sent to J&P-AVAX SA by the Hellenic Capital Market Commission regarding the article posted on financial website "euro2day" on 14.05.2007 concerning a project won in Jordan, our Company announces the following:
J&P-AVAX SA participates in an international consortium recently declared (provisionally) Preferred Bidder in a tender conducted by the Jordanian Transportation Ministry for a 25-year concession on the operation of the country''s Queen Alia international airport.
The contract is expected to be signed in coming days following which we will issue a detailed statement, in line with our long-standing policy of informing the investment public of the final outcome of the award process on new projects, as opposed to reporting uncertain eventualities for project tenders.
In compliance with the letter sent to our Company by the Hellenic Capital Market Commission, we also disclose that J&P-AVAX SA''s participation in the consortium named Preferred Bidder for the project is 50% regarding the related construction works and 10% for the concession. The total construction budget of the project is around Euro 430 million.