In reply to the Athens Exchange letter on 3.7.2006, regarding articles in the press that refer to a probable new lease agreement with Media Markt, as well as the probable sale of the 14,000 sqm development that will be constructed by the Group at Syngrou Avenue, the management of "Babis Vovos International Construction S.A." would like to announce the following:
Media Markt belongs to our tenant base and, as such, we have frequent contacts within the context of our general cooperation. Given the fact that our relationship so far has been a very successful one, and in line with our lease strategy, a lease agreement with the company in the future is possible. If a new lease agreement between Media Markt and BVIC Group is signed, the Management will proceed with an official announcement to the relevant authorities and the investor communities, in line with its common practice. The strong interest that has been witnessed, both from companies seeking to lease as well as investment funds, regarding the property owned by the Group on Syngrou Avenue, while it is still at the development planning stage, is indicative of the quality of BVIC's assets. We would like to note however, that we have not yet entered into any final agreement. BVIC's management will decide for the best use of the said property so as to maximize shareholder's value.