As part of the obligations of the Company, according to Article 4.1.4.3.2 of the ATHEX regulation, OPAP S.A. announces that a conference call took place on 22 March 2012 whereby the Management informed the analysts and institutional investors on the Group financial results for the fiscal year 2011. The major figures of the FY11 financial statements were presented while reference was made on the company's targets and priorities for 2012.

Specifically:

Group revenues for 2011 reached €4,358.5m versus €5,140.0m in 2010 (down 15.2%).  In  Q4 2011 revenues decreased by 7.9% compared to Q4 2010, however sequentially improved versus both the 11.4% decline in Q3 2011 and the 22.0% reduction in Q2 2011.

The Group's EBITDA reached €734.2m in 2011 from €911.3m in 2010 (down 19.4%).

This was due to reduced revenues and increased commissions for the Monitor & Go Lucky games, partially offset by the containment of distribution expenses and lower Stihima payout.

In Q4 2011 EBITDA decreased by 14.1% to €185.0 versus €215.3 in 2010, due to reduced revenues, one-off costs related to the acquisition of the new licenses and increased donations and grants.

2011 net profit decreased by 6.7% to €537.5m (2010: €575.8m) and 19.5% lower compared to the FY 2010 adjusted Net Profit of €667.7m due to the extraordinary tax charge of €91.9m in 2010.

As far as dividend distribution, the Board of Directors of OPAP, resolved upon the distribution to the shareholders of a gross dividend of €0.72 per share for the fiscal year 2011 compared to €1.54 per share for the fiscal year 2010.

Additionally it has been noted that given the adverse economic environment, 2011 was a milestone year for OPAP as the Company:

• Added a significant product in its portfolio through the license acquisition for 35,000 Video Lottery Terminals (VLTs).
• Extended its current concession until 2030.
• Further rationalized distribution costs and introduced Monitor & Go Lucky games.

In 2012 OPAP's major objectives are to implement the VLTs strategy, to prepare its participation in the online market following the appropriate regulatory steps and to continue pursuing the Hellenic Lotteries license. Through these additions, OPAP will achieve the most complete product portfolio in the industry.

In 2012 the company is aiming to harvest the benefits of these major investments based on its strong brand, its business mix and its extensive agency network.