Alpha Grissin - BACKGROUND

change

BACKGROUND

HISTORY

The company started operating in 1985 trading as LEONIDAS MICHANGELIDIS – EVANGELOS KATSAITIS Co.

A complete Technical Support Department was created in 1987, operating round the clock, 24/7.

In 1988, the acquisition of LIEBERT in the USA by EMERSON ELECTRIC offered an opportunity to the company to operate in UPS systems.

The first customers in UPS were the University of Patras and the Public Petrol Corporation (currently Hellenic Petroleum), whose UPS systems are still working trouble-free.

In 1989 the unlimited company LEONIDAS MICHANGELIDIS- EVANGELOS KATSAITIS was converted into the Societe Anonyme COMPUTER SUPPORT SYSTEMS, trading as ALPHA SA.

In 1991 a contract was signed with IBM Hellas SA, whereby the Company became the exclusive dealer of IBM for the EMERSON Uninterrupted Power Supply systems until 1996.

In 1992 the first contract (908/92) was signed with the Hellenic Telecommunications Organisation SA (OTE) for the supply of Uninterrupted Power Supply Systems, upon strict technical evaluation of the products by a special committee of OTE. This first contract was followed by numerous contracts for the same equipment, which currently makes the company the supplier of 80% of all UPS systems successfully operating in OTE.

In 1997 the Company was awarded the President’s Cup by LIEBERT for the highest sales in Europe, as expressed in absolute figures and not in proportion to the population.

In 1998, the LIEBERT Group– which is now controlled by EMERSON ELECTRIC – acquired HIROSS (the largest European company in HPAC), and was renamed into LIEBERT– HIROSS. The trading of LIEBERT’s Close Control A/C products by the Company extended to the products of the new company.

In an effort to ensure quality and reliability for its products and services, the Company has, since establishment, been implementing a Quality Control System, which soon led to its certification with ISO9001 by Bureau Veritas Quality International (BVQI) in 1999. In 1999 the procedures to confirm collaboration with GAMATRONIC Electronic Ind. were complete for the exclusive trading of specific products (UPS, Rectifiers, Inverters, etc), thus paving the way for new Company activities and exceeding the anticipated sales figures.

In 2000 the Company collaborated with C&D TECHNOLOGIES, the largest Group in batteries worldwide. In the same year, the Company undertook the trading of ERICSSON ENERGY SYSTEMS, which was renamed into EMERSON ENERGY SYSTEMS following its acquisition by EMERSON ELECTRIC.

The Extraordinary General Meeting of the Company‘s Shareholders as of 24/03/2000 (Government Gazette 2812/20.04.2000) decided to change the Company’s style from ALPHA SA to ALPHA GRISSIN INFOTECH SA.

In December 2000, the Company used its know-how to assemble rectifiers which were procured to OTE, Albanian Mobile Communications (AMC), INTRACOM (Peania), Motorola S.A. and SIEMENS.

In August 2001 the Company proceeded with the establishment of a technical support branch in Thessaloniki, for better service and direct response to its customers’ needs in Northern Greece.

In March 2002 the Company signed a one-year contract (automatically renewable) with NEWAVE S.A.(Switzerland) for the import and trade of UPS systems.

In April 2002 the Company signed a contract with a term until 31/12/2004 (automatic renewable) with EMERSON ENERGETSKI SUSTAVID.O.O. (Croatia) for the import and trade of rectifiers.

On 6 April 2004 the Company obtained Stock Exchange approval for the listing of its shares on the market, and on 20 April 2004 the Company started trading its shares on the Athens Exchange.

In December 2004 the subsidiary ALPHA GRISSIN INFOTECH BG AD was established, with registered office in Sofia, Bulgaria. The new company shares the same scope as ALPHA GRISSIN INFOTECH SA and also operates as the first data centre of Bulgaria.

In April 2005 ALPHA GRISSIN INFOTECH SA participated in the establishment of ALPHA KRAKOW DEVELOPMENT S.P.Z.O.O with registered office in Krakow, Poland. The objective of the new company is real estate management and development in Poland. In parallel, according to its Articles of Association, the company will also operate in the wholesale of home appliances, machinery, fixtures and additional equipment, in consultancy in computer equipment and data processing, the maintenance and repair of office machinery, accounting equipment and computers.

The Extraordinary General Meeting of the Company's shareholders as of 27/06/2005 (Government Gazette 8923/12.08.2005) decided to change the Company’s name from COMPUTER SUPPORT SYSTEMS SA to COMPUTER APPLICATIONS AND REAL ESTATE.

In June 2006, ALPHA GRISSIN INFOTECH SA entered energy and more specifically renewable energy sources. It operates in the study and development of wind and photovoltaic parks in selected regions of Greece. Within the second six-month period of 2006, ALPHA GRISSIN INFOTECH SA submitted to the Regulatory Authority for Energy applications for the development of four (4) wind parks and one photovoltaic park.

In December 2006, the acquisition of the company ALPHA GRISSIN MANAGEMENT SERVICES LTD was completed for the consideration of €18,000. The acquisition was made at the face value of corporate shares, and ALPHA GRISSIN INFOTECH SA is now the only partner in the company. The decision of acquisition had been made by the Extraordinary General Meeting of shareholders as of 02/10/2006. The company operates in the provision of consultancy in the following fields: a) sales, b) distribution network organization and development, c) product promotion, d) strategic growth and penetration into new markets, e) accounting monitoring and f) financing and payroll.