Press Release regarding Financial Developments in LOULIS GROUP

Following the signing of the final agreement between the Austrian L.L.I. EUROMILLS Gmbh and LOULIS GROUP, Friday the 6th of July in Vienna, this week Loulis Mills proceeded to the transfer of 60% of the shares of the Romanian company and collected the amount of 34 million euro. Next Tuesday the 7th of July the 60% of the shares of the Bulgarian company will be transferred for the amount of 16 million euro. Additionally, Mr. Konstantinos Loulis will transfer in the beginning of next week 5% of the mother company in Greece for 3,3 million euro.

Loulis Mills S.A will also collect 3,3 million euro owed by the subsidiary companies abroad Therefore, the Bank Debt of 138 million euro which burdened Loulis Mills S.A with annual interest fees about 10 million euro, is now confined to 50 million euro Bank Debt, with interest fees about 3,5 million euro per year. . The companies abroad, with their new structure, are undertaking independently a Bank Debt of 35 million euro. Apart from the significant future profits coming from decreasing of the interest fees, which will show in the Second Semester of 2007, the First Semester (01.01-30.06) is heading towards ending with profits of about 3,2 million euro, compared to a loss of - 2,6 million euro which was with what the First Semester of 2006 ended. The turnover of the First Semester (01.01-30.06) posed an increase of 31%. Specifically from 64 million euro last year, this year it reached 84 million euro.