FG Europe S.A. Group presentation took place today, September 17th 2008, within the framework of Greek companies, hosted by the Association of Greek Institutional Investors. Keynote speakers for FG Europe were Mr. Georgios Fidakis, Chairman of the Group, Mr. Ioannis Pantousis, Managing Director, and Mr Evangelos Lianopoulos, Deputy General Manager and Investor Relations Director. The speakers presented the financial results for the first half of 2008 (period ended on June 30 2008) and made reference to the highly positive progress of the Group to date, the soaring profitability that led to the decision for the distribution of interim dividend of the amount of euro 0.12 per share against dividend attributable for the fiscal year 2008, as well as Group estimates for the financial results of the total of the fiscal year 2008.

Concisely, for the first half of 2008:

Total sales for the parent company rose to euro 87.87 million, against euro 84.00 million for the respective period of 2007, posting an increase of 4.61%. Sales of air conditioners grew by 34%, reaching euro 69.31 million against euro 51.77 for the respective period of 2007

Specifically, sales of air conditioners in the Greek market increased by 51%, amounting to euro 47.40 million against euro 31.55 for the first half of 2007. Exports to foreign markets where the company is active rose to euro 21.91 million against euro 20.42 million for the respective period of 2007, posting an increase of 7%.

Sales of ESKIMO and SHARP white home electric appliances rose to euro 4.29 million against euro 5.46 million for the first half of 2007, posting a decrease of 21%. Sales of SHARP consumer electronics also decreased by 21%, amounting to euro 3.42 million against euro 4.35 million for the respective period of 2007.

A decrease of 52% was noted in sales of mobile telephony products (euro 10.85 million against euro 22.42 million in the first half of 2007), in compliance with the company's stated policy of gradual withdrawal from the mobile telephony sector.

The significantly increased by 25% sales of durable consumer products for the parent company, the financial figures of which largely affect on the figures and profitability of the Group, resulted in: An increase of 66.24% noted in Earnings Before Interest Tax Depreciation and Amortization (EBITDA) for the Group, which rose to euro 19.04 million against euro 11.45 million for the first half of 2007, thus also shaping the EBITDA margin to 21.50%, against 13.58% for the respective period of 2007

An increase of 63.41% in Earnings Before Tax which amounted to euro 16.68 million against euro 10.21 million for the respective period of 2007, thus shaping the EBT/ Revenue ratio to 18.84%, against 12.10% for the respective periof of 2007

Increased by 74.43% Earnings After Tax and Minority Interests for the Group, which rose for the first half of 2008 to euro 12.33 million against euro 7.07 million for the respective period of 2007.

For the total of the fiscal year 2008 FG Europe Group Management proceeded to announcing a revision of its initial estimates, readjusting them as follows:

Total revenue for the Group is estimated to slightly decrease by 3,35% (against FY 2007) amounting to euro 149.30 million Earnings Before Interest Tax Depreciation and Amortization (EBITDA) are estimated to increase by 23.65% and amount to euro 27.50 million against euro 22.24 million for 2007 (EBITDA for FY 2007 was recalculated according to Circular 34 of the Hellenic Capital Market Commission), thus accordingly shaping EBITDA margin to 18.42% against 14.40% for the respective period of 2007

Earnings Before Tax are expected to rise to euro 21.60 million against euro 18.57 million for 2007, posting an increase of 16.32%. Net Earnings After Tax and Minority Interests for the Group are expected to rise to euro 16.20 million against euro 13.23 million for 2007, posting an increase of 22.45%.

Finally the presentation concluded to the following:

Management is currently considering ways of exploiting added value attributed to current assets in order to further reduce its debt obligations.

Amidst the negative for capital markets climate, the Group's ongoing progress and high profitability nevertheless lay the ground for the distribution of a satisfactory to shareholders dividend for the fiscal year 2008, following the distribution in August of interim dividend of euro 0.12 per share.