Jumbo makes a dynamic start by launching three new stores

Jumbo group the biggest retail company of toys, baby products, stationary products and other relevant products in Greece announces the launching of three new stores for the current financial year 01/07/2008-30/06/2009. The group accelerated the execution of its investment plan for the expansion of its network. In the two first months of the current financial year July 2008-June 2009 proceeded with the opening of the three stores that it were programmed to operate in the first half of the current financial year. In July the company launched the hyper store in Promahonas located at Serres near the Bulgarian borders of circa 8.000 sqm. In August the company launched the Group’s biggest store located in Athens at Piraeus Avenue (circa 20.000sqm) and a second store located in Athens at Marousi (circa 10.000 sqm) next to Neratziotissa station of the Athens-Piraeus Electric Railways (ISAP). Today, the Group operates 44 stores of which 19 are located in Attica, 22 in Greek province, 2 in Cyprus and 1 in Bulgaria. As it has already been announced the sales for the financial year ended on 30 June 2008 were increased by 17.88% y-o-y making the announced target for 21.42% net profits increase absolutely feasible. The first two months of the current financial year sales increase is within the management’s target for 2007-2010 CAGR 15%. FY 2007/2008 financial results will be announced on September 24th after market closing.