By the present announcement we would like to inform you in accordance with Article 4, paragraph 1(e) of the CMC's decision no 5/204/14.11.2004, that there has been a amendment in the incorporation of our Company' s Board of Directors. In particular, the Company's Board of Directors during its session on May 25th, 2006, elected Mr Kostas Sfakakis as Independent, Non Executive Member in replacement of Mr George Vlahos, who resigned on 10/5/2006. Mr Kostas Sfakakis was born in 1948. He has a wide experience in managerial positions at large Greek and foreign industrial companies. Mr Sfakakis has studied in the Athens University of Economics & Business (ASOEE). The above replacement will be submitted for approval by the next General Shareholders Meeting of the Company.

Following the aforementioned changes, the new Board of Directors reorganized as a body corporate with the following Members:
1. Minas Tanes, President - Non-Executive Member.
2. Dionisios Rorris Vice President & CEO - Executive Member.
3. Aggelos Plakopitas, Non Executive Member.
4. Emmanouil Kotronakis, Non-Executive Member.
5. Michael Madianos, Non-Executive Member.
6. Stelios Argyros, Member, Independent, Non Executive.
7. Kostas Sfakakis, Member, Independent, Non Executive