SANYO HELLAS HOLDING proceeds to significant changes in the managing structure as well as in the operation of its group of Companies.

Under this frame, the position of the new Head Business Administrator of the company takes over Mr Polychronis Ladonicolas, former top level Executive of BP company in Greece and in foreign.

Mr George Christodoulopoulos holding this position until now, takes over the role of company's advisor and remains as an executive member of the Board of Directors.. until December 31st of 2004.

The above changes concern the general policy revision as well as the development of specific plans and initiatives which focus to the expansion and the upgrade of company's position.

Mr Polychronis Ladonicolas, the new Head Business Administrator of the parent company, is an Electrical, Mechanical Engineer with a post-graduate education in Finance and Business Administration.

He worked in BP's group of companies Management for over 34 years in the headquarters of Greece, as well as in London and Germany (Hamburg). The main sectors of his action were the Managing and Trade Operation, the Supply and Transportation Division, the Strategic Planning, the Development and Expansion of BP? s activities in Europe. The last years was advisor of the high level Executives in BP. He was also participated in group's Board of Directors like in Greece, Denmark, Germany, Sweden, Holland.

Mr Polychronis Ladonicolas is married with 2 children and speaks the English and German language.