Athens, April 17th, 2008

Presentation of I. Kloukinas-I. Lappas SA in the Association of Greek Institutional Investors

The annual presentation of I.Kloukinas-I.Lappas SA took place on Thursday 17th of April 2008 in the Association of Greek Institutional Investors. The management of the company referred to the financial results of 2007, as well as to its perspectives and strategic goals.

The year 2007 was a year of dramatically increased activity regarding the expansion of the network of Mothercare stores in Serbia and Albania as well as the acquisition of “COMPTON HOUSE PROPERTIES” which retains the exclusive right of purchasing products of the Company under the name “Early Learning Centre Limited” in Greece. Mothercare brand had maintained its leading position in the Greek infantile products market by increasing its market share over 35% with a network of 40 stores.

The Group turnover amounted to 64.003 thousands euro over 56.683 thousands, an increase of 12,91% over 2006, operating profits before taxes and interest ( EBIT ) amounted to 23.296 thousands euro over 17.471 thousands euro an increase of 33,34 %, while the profits before taxes, were 21.861 thousands over 16.769 thousands, increased at 30,37% .The profits after taxes and rights of minority amounted to 15.691 thousands euro, over 13.348 thousands euro increased at 17,55% .
Finally, the Group’s Equity for 2007 increased to 66.383 thousands euro, from 54.700 thousands euro in 2006, an increase of 21,36% .
Part of the profit increase was due to the revaluation of the investment property in Ermou str. Without the revaluation, profits before tax are increased to 53% at 14.890 thousands euro.

In terms of the parent company, the turnover amounted to 54.285 thousands euro over 51.375 thousands euro, an increase of 5,66% compared to 2006 . The operating profits before taxes and interest ( EBIT ) amounted to 18.823 thousands ,over 16.151 thousands, an increase of 16,54 % euro while the profits before taxes amounted to 18.803 thousands euro over 15.503 thousands, an increase of 21,29% .The profits after taxes amounted to 14.151 over 12.829 thousands euro an increase of 10,31% . The proposed dividend per share for 2007 is 0,25 euros an increase of 43%.

In regards to the sales turnover, the company estimates an increase of 45% for 2008, 25% for 2009 and 15% for 2010 .In regards to the net profit , the company estimates an increase of 45% for 2008, 30% for 2009 and 15% for 2010. This improvement is mainly due to the expansion of the network in Balkans with 46 new Mothercare stores and 41 new ELC sales points. The company also operates in the energy sector with a Small Hydroelectric Plant of 2,5 MW. Additionally the company owns approved hydroelectric projects of 5 MW at the stage of licensing.
Regarding the construction sector the backlog for 2008 is almost 38 m euro specializing in the private sector. The goal of the company is to maintain the net profit margin of 10%. Finally the value of the Fixed assets of the company is estimated to be 100 m. euro.