Dolphin submits takeover bid for Aristo

Dolphin Capital Atlantis Ltd submitted a Public Offer to the shareholders of Aristo Developers Pcl: (ARD) seeking the acquisition of up100% of the shares of Aristo Developers at a consideration of EUR 2.15 cash for every ARD share.

Dolphin Capital Atlantis acquired 20.05% of the share capital of ARD at the price of EUR 2.15 per share from Elma Holdings and submitted to the CSE all the relevant forms of transfer on April 5, 2007. Via a sale and purchase agreement, Dolphin Capital Atlantis secured the acquisition of 59.54% by Th. Aristodemou and associated (to him) persons. The transfer of the stake of 59.54% to Dolphin Capital Atlantis to the CSE is subject to

the approval of the Commission for the Protection of Competition and any other competent authority.