Clarification on press release

Loulis Food Ingredients_Clarification on press release

Following the question posed by the Capital Market Commission with Protocol number 1970/6.5.2008, regarding the press article of the 6th of May 2008 in the website of electronic press titled Loulis: Over Doubling of Earnings in the 1st Trimester and based on article 2 of Decision No. 5/204/2000 of the Board of Directors of the Capital Market Commission, we call to your attention that the information regarding over doubling of the consolidated profits of Loulis Mills S.A, compared to last years same period, do not coincide with the company's valuations according to up to date's data. We believe that the Consolidated Earnings Before Taxes will be significantly higher than the respective last year's Earnings, but will not be not more than double. The Earnings of the mother company will vary to levels twice as high last year's. As we have already announced, after the signing of the agreement to sell the 60% of our participation stakes in Romania and Bulgaria, during this current year, we are expecting a decrease of our Financial Expenses by 2.5 mill. €, compared to last year's. Indeed, the Sales of the company on a consolidated level, pose a 42% increase. Specifically the sales of the mother company pose an increase of 30% compared to the respective trimester of 2007. In the end, we point out that the turnover of the mother company for the first quarter of the year, posed an increase over 40%. We inform you that the Financial Reports of the 1st Trimester of 2008 will be released on Thursday, the 29th of May 2008.

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