Avacom: Final results 2007

We wish to announce that at the meeting held on April 30, 2008, the Board of Directors of Avacom Public Company Ltd examined and approved the audited results for the year ended December 31, 2007. The results were not ready for approval due to a delay in the preparation of the results of the subsidiary Ceilfloor Public Company Ltd. The Board of Directors will hold a new meeting for the examination of the results and the setting of the date of the Annual General Meeting as soon as the final results of the subsidiary are ready.

The Annual Report and financial statements for the year ended December 31, 2007 will be posted to the beneficiaries pursuant to the CSE Law and Regulations.

Copies will be available at the Company’s office, 213 Strovolou Avenue, 2090 Nicosia.