Athens, February 28th 2006. M.J.MAILLIS GROUP announces its Consolidated Financial Results for the Full Year 2005:

- Consolidated Sales of Euro 361.5 mln versus Euro 341.6 mln in 2004.

- Consolidated Earnings before Interest, Taxes, Depreciation and Restructuring Charges (E.B.I.T.D.A.) of Euro 57.6 mln versus Euro 59.1 mln in 2004.
- Consolidated Earnings before Taxes (E.B.T.) of Euro 22.1 mln versus Euro 27.1 mln in 2004.

In 2005 the Group posted 6% top line organic growth and achieved its target for cash flow improvement reducing net debt by Euro 7 mln to Euro 162.6 mln from Euro 169.6 mln in 2004.

The financial results of the last two years were affected by the unprecedented abnormalities in supply and demand in steel but also in plastics raw materials (mainly due to China) which led to overstocking and huge volatility in prices, with the well-publicised adverse consequences in the steel related industries. 2004 was characterised by rising prices and high levels of demand whereas in 2005 the situation was reversed with declining prices and demand (as a result of the overstocking) leading to pressure s on gross profit margin. Despite these adverse market conditions, the Group decided to accelerate in the 4th quarter its restructuring efforts, assuming the relative cost. It should be noted that the tax audits of M.J. MAILLIS S.A. and STRAPTECH S.A. for the years 2002, 2003 and 2004 were completed within 2005 and the resulting tax differences of Euro 2.3 mln were included in the 2005 FY results. The adverse market conditions associated with the lag in demand in 2005 are not present today and the industry analysts forecast stabilisation in supply and demand as well as in raw material prices for steel and plastics. Therefore, the 2006 prospects for the Group are quite optimistic, with the primary targets being organic growth and further improvement in cash flow and reduction in net debt. It is expected that the growth of the US operations will have a substantial positive impact on the Group results, especially after the completion of the investment within the 1st half of 2006. At the same time, the Group will continue to invest especially in the production of packaging materials that currently run at close-to-capacity levels, so that beginning 2007 it will be in a position to meet the anticipated increase in sales, which, on a consolidated level, are expected to significantly exceed the Euro 400 mln mark. In 2006, the Group will continue its restructuring and production rationalisation efforts, which are necessary under the current environment of intense competition. The management of M.J. MAILLIS Group will propose a dividend payment of Euro 0,06 per share for 2005.

For more information, please contact our Group's Investor Relations Department (Mrs. Alexandra Konida, Investor Relations Director, tel. +30 210 6285000 or e-mail: alexandra.konida@maillis.gr)