MOTOR OIL (HELLAS) CORINTH REFINERIES S.A announces that the Annual Ordinary General Shareholders Meeting of May 31st, 2005 approved the acquisition of own shares according to article 16 par. 5 of the C.L 2190/1920. The maximum number of own shares which is possible to be acquired equals 1,107,800 representing 1% of the total issued and outstanding shares of the Company. The minimum and the maximum purchase price per share was set at euros 7 and euros 17 respectively. The purchases will be effected within 12 months from the date of the decision of the above mentioned Annual Ordinary General Meeting of Company Shareholders.