THESSALONIKI WATER AND SEWAGE COMPANY SA

Approval of the Explanatory Report

Water Supply & Sewerage Company of Thessaloniki S.A. announces that, according to the art. 11a of L. 3371/2005, the Board of Directors by its decision no. 246/2007 approved the Explanatory Report of the BoD's Annual Administration Report of 2007 to the Annual Regular Stockholders Meeting.