Athens, March 27th, 2008

I. Kloukinas - I. Lappas SA announces – Financial results 2007

The Group turnover amounted to 64.003 thousands Euro over 56.683 thousands, an increase of 12,91% over 2006,operating profits before taxes interest and depreciation ( EBITDA ) amounted to 23.296 thousands € over 17.471 thousands €. an increase of 33,34 %, while the profits pre taxes, were 21.861 thousands over 16.769 thousands, increased at 30,37%.

The profits after taxes and rights of minority amounted to 16.228 thousands €, over 13.584 thousands € increased at 19,47%.

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%.

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 pre taxes, interest and depreciation ( EBITDA ) amounted to 18.823 thousands, over 16.151 thousands, an increase of 16,54 % Euro while the profits pre 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 Euros an increase of 10,31%.

The proposed dividend per share for 2007 is 0,25 Euros an increase of 43%.

In the company’s pre tax profits is included 6.970 thousands Euro from the re evaluation of Investment property of Ermou 47.

Without this readjustment the profits pre taxes , interests and depreciations in unified base amounted in 17.569 thousands, opposite 11.619 thousands increased at 51,21%, the profits after taxes in 11.000 thousands, opposite 7.068 thousands increased at 55,63% , the profits of commercial activity, pre taxes amounted in 10.999 thousands, opposite 6.411 thousands, increased at 71,58 % and the construction activity 3.761 thousands, opposite 3.715 increased at 0,01%.