FORTHNET A.E.

Announcement

Forthnet SΑ reports that in accordance with the No 28757/ΥΠΕ/4/00447/Ν.3299/Ε/22.12.2006 resolution of the Minister of Economy & Finance, the company''s business plan, amounting to Euro 28.54 mil, has been included in the provisions of the Development Law (3299/2004). As such, Forthnet has been granted a government subsidy of up to Euro8.56 mil., or 30% of the total investment. The Company''s business plan anticipates the development of an extensive broadband services network, as a means to offer new services for voice, data and content. The specific investment is part of a broader investment plan that exceeds Euro 250 mil., while its deployment started since June 2006. The aforementioned investment plan will be funded by a mix of equity and the aforementioned subsidy.