The Euro 390 mn debt restructuring and refinancing of Delta Group has been completed successfully. The refinancing of the Group was realized via Delta Holding S.A. and has two parts:

1) Euro 190 mn was raised through a US Private Placement bond issue of 7 & 10 years tenure, which is the first one for a Greek borrower in the specific market and was substantially oversubscribed from the original size.

2) Euro 200 mn was raised through a 5 year syndicated bond loan placed in the Greek and European bank market.

Bank of America was the overall coordinator of the refinancing. Bank of America acted as sole agent on the USPP, in which 9 of the largest US institutional investors in the above market participated and two European ?most of which are insurance companies. For the Euro 200 mn bond loan, Bank of America and Hypovereinsbank were MLAs and Joint Bookrunners and the other MLAs were EFG Eurobank, Alpha Bank, National Bank of Greece & Piraeus Bank. 14 Banks participated in total. Through this refinancing Delta Group improves its financial structure and extends the duration of its debt under significantly improved cost. Through the new centralized cash management, Delta Group ensures 1% yearly cost savings, i.e Euro 3 mn approximately.The sound capital structure of the Group today is reflected by the ratios Net Debt/EBITDA which is expected to be below 3:1 by year end and EBITDA/Net Interest which is expected to be higher than 4.5:1. It is noted that after the latest financial transactions of the Group as well as the increased cash flows expected to be generated in the coming years, the ratio Net Debt/EBITDA will be below 2.5:1 in the next couple of years. Delta Group would like to thank all parties involved in this successful transaction and particularly Bank of America, the Mandated Lead Arrangers and the remaining banks, as well

as the Group's legal consultants PI Partners Law Firm.