S & B INDUSTRIAL MINERALS S.A.

Conclusion of ordinary tax audit for fiscal year 2005

In conformance to paragraph 9d of article 275 of the Athens Exchange Regulation, S&B Industrial Minerals S.A. announces the conclusion of an ordinary tax audit for fiscal year 2005. The above mentioned audit resulted in additional taxes of Euro 464 thousand of which Euro 194 thousand impacts the results and the rest is covered by provision established in prior years.