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ANNOUNCEMENTS

Hellenic Fabrics

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In compliance with paragraph 4.1.4.2. of the Regulation of Athens Exchange S.A. and the Commission Regulation of the European Communities No 2273/2003, the company implementing the decision of the Annual General Meeting of the shareholders of 18.06.2010 and the decision of the Board of Directors of 31.12.2010, announces that during the period starting the 1st of January 2011 and ending the 30th of June 2011, it intends to purchase up to 500.000 of own shares, through the securities company "INVESTMENT BANK OF GREECE S.A.", at a maximum price of 5.00 euros and at a minimum price of 0.10 euros, for distribution to staff and consultants of the company and its affiliated companies, "KILKIS SPINNING MILLS S.A." and "THESSALY COTTON GINNING S.A.". 

In the context of our companys aforementioned share buy back program and in accordance with par. 2 and 3 of article 5 of the Commission Regulation no 2273/2003 of the European Communities, HELLENIC FABRICS S.A. announces that, based on the low liquidity of the relative market, it intends to proceed during the period starting the 1st of January 2011 and ending the 30th of June 2011 to purchases in excess of the 25% limit of the average daily transaction volume, as it is defined according to par. 2 of the same article. The purchases will not exceed under any circumstances the percentage limit of 50% of the average daily transaction volume.

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