In reply to the Capital Market Commission''s letter of 2 April 2007, the Company hereby announces that:
1. As the Company has informed investors in previous announcements, the Company''s management is, in collaboration with the international investment firm Lazard, exploring the international market for suitable investors in the Company.
2. As part of this process, the Company confirms that it has come to an initial agreement for international investors to acquire a holding in it, by increasing its share capital by Euro 60 million, and through a Euro 60 million convertible bond issue.
3. The terms of the above agreement, including the final issue price of the new shares and the terms of the convertible bond, are subject to a full financial and legal inspection, as is usual in transactions of this size.
4. When the negotiations will have been completed, the Company will proceed to the necessary announcements.
Of course, all of the above must be approved by the General Meeting of Shareholders and the competent Authorities.