GERMANOS SA announces that the BoD of the Company on 27/06/06 decided UNANIMOUSLY to proceed with the spin-off the Industrial Sector of the Company including its real estate assets and the participations of GERMANOS ABEE in the companies ADVENT TECHNOLOGIES SA and AFIS SA, and their 100% contribution into the subsidiary company ARION SA (already renamed, following its acquisition, to SUNLIGHT SYSTEMS SOCIETE ANONYME INDUSTRIAL AND COMMERCIAL COMPANY OF DEFENSIVE, ENERGY AND TELECOMMUNICATION SYSTEMS). The auditing company ERNST & YOUNG was appointed for the certification of the accounting value of the aforementioned assets, and the effective date for the contribution of the divestment sector was the 30/06/2006. This sector represents the 7% of the total turnover of GERMANOS SA during the last financial year (2005).