The company CORINTH PIPEWORKS S.A. announces that, according to the relevant decision of its BoD, on 1.08.2005 proceeded with the take over and acquisition of the equity stakes, (21% of the corporate capital), of its subsidiary company "CPW EUROPEAN TRADING Gmbh", which is based in Dyssedolf, Germany. After the aforesaid take over, the company's holding reaches 100%.