Issue of €265 million syndicated bond loan

J&P-AVAX SA announces it signed a deal for the issue of a syndicated bond loan amounting to €265 million with a maturity of up to 8.5 years with a group of financial institutions, with Bank of Cyprus being the Lead Arranger. Other deal participants are EFG Eurobank as Co-Arranger, and Emporiki Bank, Alpha Bank and Piraeus Bank.

The bond loan will be used primarily for meeting the Company’s capital needs in coming years for investments in concession projects, for which works are either in progress such as Aegean Motorway, Olympia Odos and Limassol Marina, or scheduled to commence soon, eg Larnaca Port & Marina, while part of the loan will be used to refinance outstanding bond loans, also used mostly for financing participation in concessions.

The new bond was signed during a critical period in terms of world market conditions and Greek economy particularities, while at the same time signifying the trust and support shown by the banking system to J&P-AVAX.

Marousi, May 20, 2010

THE BOARD OF DIRECTORS