VARVARESSOS S.A.

PRESS RELEASE - Financial Results for fiscal year 2007

VARVARESSOS S.A. turnover during the fiscal year 2007 reached 23,21 million EURO compared to 26,41 million EURO the corresponding period in 2006. The company 's exports came up to 15,80 million EURO, representing 68% of the company 's turnover.
Profits before depreciation (EBITDA) have reached 944 thousand EURO contrary to 570 thousand EURO during the fiscal year 2006. Losses before taxes has reached 2,65 million EURO contrary to losses 3,29 million EURO last year. Losses after taxes reached 3,10 million EURO compared to losses 3,57 million EURO in 2006.
The Financial Statements for the fiscal year that ended on 31.12.2007 are available at company 's website www.varvaressos.gr.