HERACLES GENERAL CEMENT COMPANY S.A.

Announcement

On Monday the 7th of May 2007, following the invitation of the Vice-Minister of Labor Mr. G. Giakoumatos, a tri-partite meeting took place between the company and the union of Halkis Plant. In the meeting GSEE and the Cement Federation were present.
Further to this meeting, and under the auspices of the Vice-Minister of Labor, the company and the Halkis Plant union agreed to start a ten days discussion process.
In the frame of the above process, the company agreed to restart temporarily the plant under the following conditions:
1. Normal operation of the plant free from any obstructions
2. The maintenance contractors and the contractor of the mobile equipment of the quarry will be operating without any obstruction
During these discussions, the transfers of the employees, due to the assignment of the quarry transportation to the contractor, who have not accepted their new position, is frozen.
HERACLES G.C.Co has restarted Halkis Cement Plant the morning of 8th of May, and is entering this discussion process with a strong will to find a viable solution for its future, fully aware of its responsibilities.