Athens, February 28th 2003. M.J.MAILLIS GROUP is announcing its consolidated financial results for the year 2002.

• Consolidated Sales of ? 310,9 mln versus ? 270,8 mln for 2001, corresponding to an increase of 14,8 %
• Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of ? 54,5 mln versus ? 43,5 mln in the relevant period of 2001, corresponding to an increase of 25,4 %
• Consolidated Earnings before Tax (E.B.T.) of ? 26,1 mln versus ? 25,9 mln in the year 2001.

Despite the international negative sentiment of 2002, M.J.MAILLIS GROUP achieved 15% sales growth and significant improvement of operating profits (E.B.I.T.D.A).

During last year, the company implemented successfully certain restructuring changes, intensified its streamlining program and invested in new product development. Several mergers of foreign affiliates were completed and production lines were transferred (i.e. from U.K. to Poland, Italy, Greece) resulting to substantial cost reduction (in the area of production and administration costs), something which will be more obvious within the next months. The company also heavily invested in Research and Development, launching several new products within 2002, mainly machines with competitive and advanced technology advantages.

This necessary process is reinforcing the Group which is stronger than ever and ready to move again aggressively during 2003. With the assumption that gradually international markets will move towards normal growth rates, we believe that the results of M.J.MAILLIS GROUP will explode.

M.J.MAILLIS GROUP management is proposing for the fiscal period 2002, dividend distribution of ? 0,06 per share, which corresponds today to 2,3% dividend yield.