Within the framework of the decision No 3/347/12.07.2005 of the Board of Directors of the Hellenic Capital Market Commission, the Board of Directors of the company NIKAS S.A. discloses that on Wednesday, July 19, 2006 was announced the submission of a voluntary public tender offer, pursuant to Law 3461/2006, of the company GCI FOODS ENTERPRISES LTD to acquire in cash the total number of common registered shares of the company NIKAS S.A. for the price of euro 6.00 per share. The company GCI FOODS ENTERPRISES LTD participates in the share capital of NIKAS S.A. with a shareholding of 49.92%, directly holding 10,100,000 shares out of a total number of 20,231,328 shares. The Board of Directors of NIKAS S.A. will prepare and disclose its explicit opinion on the public tender offer, taking into consideration the interests of the company, its shareholders and its employees, acting within the deadlines provided for by Law. The relevant announcement of GCI FOODS ENTERPRISES LTD on the voluntary public tender offer has been posted on the website of the company NIKAS S.A. ( www.nikas.gr).