MOTOR OIL (HELLAS) S.A announces that the Annual Ordinary General Meeting of the Company shareholders of May 31st, 2005 approved the distribution of an aggregate dividend amount of euros 0.85 per share for the fiscal year 2004. It is reminded that on 20.12.2004 the Company paid an interim dividend of euros 0.20 per share as advance payment for the year 2004 dividend. As a result the remainder amount of dividend payable for the year 2004 equals euros 0.65 per share.

Shareholders entitled to the remainder amount of dividend are the owners of the shares of the Company at the closing of the trading day of the Athens Stock Exchange of May 31st, 2005 according to the clearing of the Central Securities Depository S.A. As of June 1st, 2005 the shares are traded ex-dividend remainder for the year 2004. The commencement of the payment will be within 20 calendar days following the AGM date. The exact payment commencement date will be declared with another announcement.