The Board of Directors during its session on 12 January 2005, accepted the resignation of Mr. Christos Mentzelopoulos as of 31.12.2004, as member of the Board of Directors.

According to articles 11 and 18 of the Company's Articles of Association and following the relevant resolution of the Ordinary Shareholders Meeting, so that the number of members remains unchanged, the Board of Directors elected Mr. Michel Rose as member of the Board, in replacement of the resigned one, who is going to serve the rest of the term of office of the resigned member, which ends with the Ordinary Shareholders Meeting in 2006 and which will judge the deeds of the fiscal year 2005. Mr. M. Rose is Chief Operating Officer and President of Cement Division of Lafarge and the ratification of his election will be effected by the first General Meeting (Ordinary or Extraordinary) to be convened.

Moreover, pursuant to the provisions of law 3016/2002, as amended by the provisions of law 3091/2002, the Board of Directors appoints as non executive member of the Board Mr. Michel Rose, since he fulfills the conditions of articles 3 and 4 of law 3016/2002 as amended and be in force.

Following the above the Board of Directors is composed by the following Members:

1. Jean-Charles Blatz, Chairman - executive member
2. Ioannis Pechlivanidis, Vice Chairman - non executive member
3. Albert Corcos, C.E.O. - executive member
4. Eric Meuriot, executive member
5. Agissilaos Karabelas, non executive member
6. Anthimos Thomopoulos, non executive member
7. Dimitrios Danilatos, independent member
8. Jacques Gani, independent member
9. Michel Rose, non executive member