Fresenius Kabi Hellas S.A. and Lavipharm S.A. announced the termination of their agreement regarding the physical distribution of Fresenius' products by Lavipharm which will be undertaken by KOPER S.A.

The two companies came to a consensus regarding this strategic decision, taking into account their future development plans and particularly in light of the significant differentiation in the distribution needs which arose following the recent acquisition of KOPER's S.A. fixed assets by Fresenius Kabi Hellas. This decision also reinforces the restructuring of the Lavipharm Group that has begun in 2000. The two companies, however, continue to examine the potential of cooperating in other fields of mutual interest.

FRESENIUS KABI/s products include standard infusion solutions, colloids, anaesthetics, as well as a broad range of solutions and application systems for parenteral and enteral nutrition. The company played a key role in establishing home medical care in Greece. Through the acquisition of KOPER's fixed assets, it is evolving into a major supplier of Greek hospitals with the range of intravenous solutions, which it purchases from KOPER's domestic production. Fresenius' turnover reached ? 5 million ($ 4 million) in 2000.

Lavipharm is the largest Greek integrated company that develops, manufactures, imports, promotes and distributes pharmaceutical and cosmetic products and has a strong international activity. The company holds a leading position in the distribution of pharmaceuticals, OTC's and cosmetic products in Greece with six distribution centers and a network covering 3,200 pharmacies nationwide. Total turnover of the Group reached ? 248 million ($ 212 million) in 2000.