Comment on Press Reports

In light of the Jumbos CEO telephone interview with Reuters on Friday 24th October 2008, the management of Jumbo would like to highlight the following.

The one who reads the full interview of Mr Vakakis will conclude that what was said /stated cannot be implied directly or indirectly, as a warning for the group’s three-year profit and sales targets. On the contrary the first financial year of three-year plan was above the targets as well as the first quarter of the present financial year that will be published will be above the management’s targets. Mr Vakakis clarified that a manager in order to express an objective estimate for the group’s targets would have at first to wait for the stabilisation of the markets and having as a base the real data to carve new or to adjust the existing strategies to the maximisation of the group’s results.