AXON HOLDINGS S.A., in the context of information provided to investors, announces that on 13 June 2008 the company acquired 50% of the units of the Venture Capital Fund from Pancretan Cooperative Bank in exchange for euro 299,000. The other 50% of the units of the Venture Capital Fund belongs to the New Economy Development Fund SA. The initial amount of the Venture Capital Fund assets has been set at euro 6 million while its unit-holders have agreed on its increase to euro 40 million. The term of the Venture Capital Fund is set until 2015 while its investment period is set until 2012. The said Fund will invest in small and medium-sized Greek companies by participating, by way of example, in share capital increases and issue of bond loans. Messieurs Thomas Liakounakos, Nikos Haritakis, Chris Alexakis, Takis Doumanoglou and Ms. Antigone Lyberopoulou are members of the Investment Committee of such Venture Capital Fund. The name of the latter will change into AXON - TANEO FUND. In addition, in the context of the above decision on purchase of the Fund units, the Company acquired the control of the management company, namely Pancretan Holdings SA by buying 80% of the company's shares in exchange for euro 104,000.