direct/ Neochimiki: Institutional investors acquire 16.12% stake of Lamda in a private placement - High demand from European and overseas investors

Athens, Munich, 10th of November 2006. The Greek chemical distribution and logistics corporation Neochimiki L.V. Lavrentiadis S.A. has reduced its former 50.15% stake in Lamda Detergents S.A., a producer of quality detergents for multinationals like Henkel, Unilever, Metro, among others, to 34.03% (-16.12%).

The transaction is worth EUR 35.28 m. representing 6.3 m. Lamda shares. The demand was very high; the placement overscribed four times. The shares have been acquired by several institutional investors from Europe and overseas, in a private placement run by Sal. Oppenheim jr. & Cie., Piraeus Securities S.A. and Proton Bank S.A.

"Neochimiki will use the proceeds from today´s private placement to further implement our clear strategic goals in both our home market Greece as well as in the even more dynamic markets of South-Eastern Europe" explains Dr. Lavrentis Lavrentiadis, CEO of Neochimiki L.V. Lavrentiadis S.A.

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About Neochimiki L.V. Lavrentiadis S.A.:

Founded in 1974, Neochimiki is a Greek mid-cap (approximately EUR 480 million in market capitalization) and regional distributor of quality chemical raw materials for multinationals such as Shell, BASF and BP. Neochimiki also produces quality detergents for Henkel, Unilever, Carrefour, Ecolab, Sara Lee and Metro in modern, former Henkel- and Hoechst-facilities. The company´s import substitution activities in the detergents sector, as well chemical raw materials distribution operations (especially in the rapidly growing south-eastern European markets) are driving Neochimiki´s rapid growth today. In the past five years, its sales and profits have increased over 80% per year on average. Long-term cost-plus contracts with multinationals ensure the sustainability of this rapid growth. Neochimiki (FTSE/ASE40 index) has probably the largest international shareholder structure of all Greek listed companies and counts among its current shareholders investors from Germany, Austria, Switzerland, Italy, France, Great Britain, Spain, Belgium, and the Netherlands. For general information concerning the aforementioned corporations, please visit: http://www.neochimiki-lavrentiadis.gr; www.lamda-detergents.gr

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