27^th May 2009

Press Release

Financial Results for Q1 2009 concerning

Aristovoulos G Petzetakis S.A.

The Company “Hellenic Plastics and Rubber Industry, Aristovoulos G. Petzetakis S.A.” announces its financial results for the 1^st quarter of 2009:

Parent company turnover decreased by 31% reaching € 7.5 mil. from € 10.9 mil. in Q1 2008. Gross profit increased by 30% at € 1.3 mil. from € 1.0 mil. in Q1 2008. As far as EBITDA is concerned there is improvement to € 130 th. from – € 215 th. in Q1 2008. Losses before taxation reduced to € 1.7 mil. from € 2.1 mil. in Q1 2008, whereas losses after taxation reduced to € 1.8 mil. from € 2.2 mil. in Q1 2008.

On a consolidated level, turnover decreased by 32% reaching € 25.9 mil. from € 38.0 mil. in Q1 2008. Gross Profit reduced by 19% at € 5.1 mil. from € 6.3 mil. in Q1 2008 whereas as a percentage of sales increased to 20% from 16.5%. EBITDA reached € 89 th. from -€ 26 th. in Q1 2008, whereas excluding the one-off expenses of € 257 th. the adjusted EBITDA reached € 346 th. this fiscal quarter. Losses before taxation reached € 2.6 mil. (a reduction of 30%) from € 3.5 mil. in Q1 2008. Finally, losses after taxation reached € 3.2 mil. from € 4.0 mil. in 2007 fiscal year.

Specifically concerning the group figures:

α) Contribution margin increased to 31% of 26% same period last year.,thus taking into consideration the decrease of plant expenses, gross profit margin increased to 20% from 16.5% last year.

b) There is a significant reduction by 19% of administrative and selling expenses.

On a parent company level:

α) Contribution margin increased to 40% instead of 24% last year thus, taking into consideration the plant expenses reduction, gross profit margin increased to 18% instead of 10% last year.

b) There is a significant reduction by 16% of administrative and selling expenses.

The financial results improvement (positive operational earnings instead of losses in parent company and Group as well as the reduction of losses by 30%) on an environment of unprecedented volume sales reduction is the outcome of successful and timely realisation of the restructuring plan which started in December 2008 and focused on two major targets:

a) The reduction of plant overheads and administrative expenses in the Group’s factories in South Africa, Greece, Spain, Italy, and Germany by € 6.9 mil. (initial plan € 4.4 mil., which increased by € 2.5 mil. in March due to the greater than initially expected operations decrease in the main markets the Group operates).

b) The improvement of the contribution margin by 3 percentage points, mainly through changes in the trade policies of the group in its main markets of operation.

The 1^st quarter results confirm the fact that the aforementioned targets (overheads reduction, gross profit margin increase) have been achieved, whereas sales volume lags considerably versus the initial plan as the main focus markets of the Group present greater decline than initially expected.