ANNOUNCEMENT

Termination of Contract with Halyvourgiki S.A.

Commenting on press articles and in reply to the relevant letter sent by the Capital Markets Committee, PPC S.A. informs  that the Board of Directors approved the termination of the Contract (“Shareholders' Agreement”), dated 12.2.2009, between PPC S.A. and HALYVOURGIKI S.A. and the payment of €593.024 corresponding to the 49% of the total pre-investment expenses stipulated in the Contract. The Contract related to the joint construction and operation of two CCGT units with a total capacity of 880MW.

Athens 20-10-2011