GR. SARANTIS S.A. PROCEEDS TO THE ACQUISITION OF THE HUNGARIAN COMPANY TRADE 90

The GR. SARANTIS S.A. Management announces the acquisition of the Hungarian household products company TRADE 90.

More specifically, Sarantis Group, in the context of its further geographical expansion and the strengthening of its leading position in the consumer sector in Eastern Europe, signed an agreement for the acquisition of the 100% of the capital share of TRADE 90, through its subsidiary SARANTIS CYPRUS LTD. The closing of the aforementioned acquisition is subject to the findings of the legal and financial due diligence of the company that will be completed by September 15th 2008.

TRADE 90 has been activating since 1991 in the household products sector and, more specifically, in the production and distribution of food packaging products. The company is one of the main suppliers of the Hungarian market having long-lasting agreements with the major key accounts, while it also has a powerful distribution network that covers the whole market. Additionally, it is also important to note that TRADE 90’s packaging products are well positioned in the market and maintain the second position in terms of market share.

The company employs about 35 people, the majority of which belong to the Sales and Marketing department, and has export activity in Slovakia, Czech Republic, Romania and Austria.

The acquisition will be made through self financing and the transaction cost amounts to 2.74 mil. Euros.

It is noteworthy that the company has no debt outstanding and in 2008 is expected to record Sales, EBITDA and EBIT of approximately 6.5 mil. Euros, 0.5 mil. Euros and 0.45 mil. Euros, respectively.

Through this deal, Sarantis Group acquires a company with homogeneous and supplementary activities to its core business, a fact which enables the achievement of important synergies, given that the packaging products division (aluminum foil, cling film, garbage bags, etc.) is one of the most dynamic sub-categories of Sarantis Group with annual sales exceeding 65 mil. euros.

At the same time, through this acquisition, the Group’s subsidiary in Hungary turns into a profitable company, reaching critical mass and strengthening its position in the Hungarian market due to TRADE 90’s dynamic and lasting presence.