In reply to the Athens Exchange's letter in connection with press announcements we inform the investment community as well as the capital markets commission authorities that currently managers of the Folli Follie group are in an early stage of contact with basic shareholders of the company Lapin in reviewing the intent of a possible participatory or strategic cooperation of both companies. However, until present there have not been made any agreements or essential negotiations between the two participants and what is referred in these press announcements with regard to this matter does not reflect reality. As a matter of course and in case that any event occurs that must be published, we will promptly inform the competent authorities and the investment community.
We point out that, as it is already known, our company cooperates successfully for a long time with Lapin in the section of children?s clothes in the market of China.