According to an announcement released by Kerameia Allatini ABETE on Friday, the reasons that led to the failure of an agreement between MFS Holding and the company are attributable to the following:

“Further to the announcement dated 13/3/2006 on the EGM decision and in order to avoid misinterpretations, it is clarified that the resulting exchange relation of shares of Kerameia Allatini ABETE with those of MFS holdings PLC Group of Companies is regarded a disadvantageous due to the variability of the insurance operations in relation to the stability in the value of properties and due to the fact that in case of contribution of a majority stake of MFS Holdings Plc, the MFS shares would predominate the shares of Kerameia Allatini ABETE”.