Polycarou lifts stake in Avacom Net

Avacom Net Public Company Ltd made an announcement to the CSE and the SEC that on December 15, 2006, Polys Polycarpou Investments Ltd and Polys Polycarpou acquired a significant stake in the share capital of the Company.  Through the purchase of 6.32 mln shares, Polycarpou increased his stake from 4.92% previously to 9.14% in a deal valued at close to EUR 0.5 mln if the transaction occurred close to the 0.08 euro cent price.