AS COMPANY S.A.

First Half 2017 Financial Results

September 29^th 2017

In the first half of 2017, AS COMPANY`s (hereafter as the “Company”) basic financials were improved compared to those of the same period of the previous year while maintaining high levels of liquidity. The Company continued to increase its share in the Greek market while consolidated sales outside Greece posted an increase of + 19,1% over the corresponding period of 2016. The interim consolidated financial statements for the first time include the results of the subsidiary company AS COMPANY CYPRUS LTD in which AS COMPANY owns 100% of the shares.

Analytically in the first half of 2017, consolidated sales amounted to 11.751 million euro compared to  10.456 million euro  in the first half of 2016, recording an increase of + 12.39%. Consolidated earnings before tax amounted to  1.746 million euro compared to  1.383 million euro  in the corresponding period of 2016, marking a significant increase of + 26.29%. The improvement in profitability is due to the increase in sales volume attributable to the strengthening of market share in the toy sector in the domestic market and to the very good export performance. Consolidated earnings after taxes amounted to  1.212 million euro  compared to  0.984 million euro  in the corresponding period, recording an increase of + 23.14%.

Αt the end of the first half of 2017 the level of bank lending for the Group remains at a low level of  2.007 million euro  against  2.248 million euro  on 31.12.2016. Cash and short-term investments amounted to  8.579 million euro, certifying the Group's sound financial position. On 15.9.2017 the Company proceeded with the payment of the share capital return amounting to  525.040 euro according to the Resolution of the Annual Shareholders` Meeting of 5.5.2017.

Cash flow from operating activities on Group level amounted to  1.923 million euro compared to  1.249 million euro in the corresponding period of fiscal year 2016, recording an increase of +53.98%.

Summary of Consolidated P & L Items for First Half 2017 (000 euro)

The Company`s Equity amounted to  23.919 million euro and the book value per share based on the financial statements of 30.6.2017 is  1.82 euro. On a consolidated basis, Equity amounted to  24.082 million euro  and the book value per share at  1.83 euro.

The First Half 2017 Financial Statements are posted on the Company`s website www.ascompany.gr and the Athens Exchange website.