1. Group Financial Performance 1 st Half & 2 nd Quarter 2005 prepared under IAS & IFRS

2. Consolidated Results – 1 st Half 2 amounts in € m20052004chg Turnover213.3267.2-20.2% Gross Results34.845.3 Other Income-1.5-2.1 Operating Expenses18.112.3 Income from Associates2.6-5.5 Operating Results17.825.3 Financial Results-2.4-1.2 Pre Tax Earnings15.424.1-36.4% Tax5.69.0 Net Earnings9.815.2 Minority Rights0.0 Net Earnings to Shareholders9.715.2-35.7% EBITDA22.634.3-34.1%

3. Consolidated Results – 2 nd Quarter 3 amounts in € m20052004chg Turnover103.8150.7-31.1% Gross Results20.024.6 Other Income-1.7-3.9 Operating Expenses11.87.2 Income from Associates0.0-5.2 Operating Results6.58.2 Financial Results-1.3-0.7 Pre Tax Earnings5.27.6-31.0% Tax1.84.7 Net Earnings3.42.9 Minority Rights0.0 Net Earnings to Shareholders3.42.9+15.9% EBITDA8.813.8-36.0%

4. Consolidated Balance Sheet 4 amounts in € m6/20053/200512/2004 Fixed Assets144.6142.0139.9 Inventory48.731.888.9 Receivables196.4235.4199.7 Other Assets57.029.30.0 Cash & Equivalent35.735.2 Total Assets482.4473.7463.7 Long-Term Liabilities5.1 Short-Term Debt135.4114.465.0 Other Short-Term Liabilities165.9166.9212.7 Shareholder Funds176.0187.3180.9 Total Liabilities482.4473.7463.7 Net Debt99.779.229.8

5. Consolidated Cash Flow – 1 st Half 5 amounts in € m20052004 Pre Tax Earnings15.424.1 Depreciation4.89.0 Provisions-0.1-0.2 Financial Results2.41.2 Other Items-0.20.0 Change in Working Capital-53.754.0 Interest Paid-2.8-1.6 Tax Paid-15.4-11.8 Operating Cash Flow-49.6-33.3 Investment Cash Flow-9.1-3.1 Financing Cash Flow59.213.5 Total Cash Flow0.5-22.9 Cash –at start of period35.254.6 Cash –at end of period35.731.7

6. Consolidated Cash Flow – 2 nd Quarter 6 amounts in € m20052004 Pre Tax Earnings5.27.7 Depreciation2.35.6 Provisions-0.1 Financial Results1.30.6 Other Items-0.10.0 Change in Working Capital-20.2-31.5 Interest Paid1.60.9 Tax Paid2.70.8 Operating Cash Flow-15.9-19.4 Investment Cash Flow-4.6-1.6 Financing Cash Flow21.0-1.2 Total Cash Flow0.5-22.2 Cash –at start of period35.234.5 Cash –at end of period35.712.3

7. INVESTING IN THE FUTURE Investor Relations Officer Angelos Kiosklis 9 Frangokklisias St, 151 25, Marousi, Greece tel +30-210-6185592 fax +30-210-6185698 email akiosklis@jp-avax.gr