Athens, November 4th 2002. Against last weeks/ rumors M.J.Maillis management wants to clarify that there was no announcement regarding 9 months results 2002, moreover that no negative expectation was released suggesting deviation from the very positive 6 months 2002 results.

Nine months 2002 Consolidated sales are estimated to exceed 225 mln EUR corresponding to an increase of 20% compared with the respective period 2001. It is also estimated that profitability will be in line with 6 months results 2002, with Earnings Before Tax Interest and Depreciation (E.B.I.T.D.A.) 18% on sales and Earnings Before Tax (E.B.T.) 9% on sales.

This performance, taking into account the negative international economic sentiment confirms M.J.Maillis Group strategy and is considerd as very positive.

M.J.MAILLIS GROUP, a manufacturer of industrial packaging machines and consumables with annual sales of Euro 270 mln in 2001, is one of the leading multinational groups of companies providing globally complete ?end-of-line? technical solutions for any industrial application. The Group offers through its international distribution network industrial packaging machines, tools, after sales service and materials. It has physical presence in 19 countries, while it operates in more than 52 countries through a network of 38 owned affiliates and more than 300 independent distributors.