Athens, April 17, 2002 (ALTEC GA) (AICr.AT) ·through its subsidiary company SYSWARE Romania SRL, has undertaken the larger IT project in the Balkans. The project involves the design and implementation of the integrated information system of the state oil company of Romania, PETROM S.A. The value of the project amounts to 55.2 million Euro, with the potential of further expanding the contract up to 50% on the initial value.

ALTEC undertook the project through an international biding competition, in which many large European IT companies participated.

The project relates to the computerization of the central facilities, the peripheral centers, as well as of the 480 out of 750 gas stations of PETROM in Romania, in order to have an on-line information in a regional as well in a centralized level for the sales and inventory turnover of gas. Through the international biding competition ALTEC undertook the study and design of the integrated solution, the installation of equipment as well as the development and installation of the software.

The project will be completed in the next 20 months and the maintenance services will have a three-year duration.

ALTEC with the undertaking of this project promotes the capabilities of Greek businesses, confirming also the soundness of the up-to-now strategic choices, as well as the effectiveness of the investments, which were realized in Greece and abroad.