Comment on Press reports regarding the involevement of the Company in the Saudi Arabian market

In response to recent reports in printed and electronic Press, regarding developments in the construction sector of Saudi Arabia, J&P-AVAX notes the following:

• J&P-AVAX has not been awarded any, and is not working on, projects in Saudi Arabia.
• There is no relationship at management level between J&P-AVAX and J&P (Overseas), which the reports in question refer to.
• J&P-AVAX and J&P (Overseas) are two distinct poles of business activities under totally different management, which occasionally collaborate as partners in consortia for specific projects in the Persian Gulf.

According to the above, any reference to alleged involvement of J&P-AVAX in any developments in Saudi Arabia, as well as any impact on J&P-AVAX from the activities of J&P (Overseas), is completely untrue and unfounded.

Marousi, April 02, 2018
THE BOARD OF DIRECTORS