CTC sells Domex and Scandia to Ermes

Following the transfer of the activities of CTC-Domex to Domex Trading Co Ltd from January 1, 2009 and the prior transfer of activities of CTC-Scandia to IDEEA Distribution of Appliances (subsidiary of Scandia Company Ltd), which sells electric and electronic appliances such as Philips, Whirlpool, De Dietrich, Bosch, Miele, Neff, Galanz, CTC and its subsidiary Ermes Department Stores Plc agreed that the two companies (Scandia and Domex) be sold by CTC to Ermes against EUR1.5 mln for Domex and EUR4 mln for Scandia. The valuations were set on the basis of a study by Deloitte & Touche and were evaluated by the competent committees and the Boards of Directors of the two companies.