MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. announces that its shareholder under the legal name "Petroshares Limited" made the following statement:

"Petroshares Limited ("Petroshares") today announces its intention to sell approximately 6 million common shares issued by MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. ("Company") via an accelerated book building to international and domestic institutional investors via a private placement. The size of the offering represents approximately 5.4% of the Company's outstanding share capital. All the shares to be offered are listed on the Athens Exchange and are currently held directly by Petroshares. Citigroup Global Markets Limited ("Citigroup"), Merrill Lynch International ("Merrill Lynch") and NBG International have been appointed as Managers of the offering. Citigroup and Merrill Lynch are acting as Bookrunners."