In response to a letter sent by the Hellenic Capital Market Commission (with protocol number 4164) that was communicated to our company on 29.9.2006 and according to article 2 of paragraph 3 of Rule 3/347/12.7.2005 of the Hellenic Capital Market Commission Board of Directors we inform you of the following:
The company Gr. Sarantis SA is in the process of analyzing the economic elements of the collaboration that will also determine the Group’s financial results which will result in 2007.
Based on this estimate the company will proceed in the next stage of negotiations for the determination of the parameters that will determine the final outcome of the agreement.
This process is estimated to be complete by the end of 2006, by which time relevant information will be available to the investment community and the regulatory authorities.