HELLENiQ ENERGY Holdings Societe Anonyme

Definition on the published financial data of the period 01.01.2007 - 31.03.2007

In accordance with International Financial Reporting Standards (IFRS), comparative information is presented in the financial statements to reflect the same accounting principles used in the current reporting period. Where necessary (e.g., changes in IFRS or accounting principles) and as stated in the Condensed Interim Consolidated Financial Statements of the Group (Note 2 Accounting Policies), the presentation of comparative figures may differ from those of previously published financial statements. Within this framework and in accordance with IAS1, we clarify that for comparative purposes, in the published Financial Data and Information for the three month period ended 31 March 2007 (Income Statement), in the 31 March 2006 Group comparatives, income amounting to Euro 6.716 mil. is included in Gross Profit (as an increase in Sales of Euro 3.214 mil. and a decrease in Cost of Sales of Euro 3.502 mil) instead of in Other Operating Income / (expenses) as per the Condensed Interim Consolidated Financial Statements of the Group for the three month period ended 31 March 2006. The reclassification has no impact on the profit or the total assets and total liabilities of the Company and the Group.