The company announces that on 14 June 2007 the shareholders of HELLENIC CABLES S.A. assembled at the scheduled Annual Regular General Meeting. Tree shareholders were present, who hold 18.277.980 shares of the total 27.161.550 shares, this is the 67,29% of the votes and pertaining to the topics of the daily order have unanimously decided:
1. The approval of the annual financial statements of fiscal year 2006, following the relevant reports of the Board of Directors and Auditors.
2. The release of the members of the Board of Directors and auditors from all liabilities for fiscal year 2006.
3. The approval of the disposal of net profits of fiscal year 2006 and the distribution of a dividend of 0.10 euros per share. Dividend beneficiaries are the owners of Nominal Shares of the company, at the end of the meeting of the Athens Stock Exchange on 6/20/2007. Beginning 6/21/2007 our shares will be traded at the Stock Exchange without the right to a dividend for fiscal year 2006. The payment of the dividend will be completed by the network of ALPHA BANK from 6/28/2007 until the end of the year.
4. The election as sworn auditor for fiscal year 2007 of the auditing company ERNST & YOUNG, with the remuneration in accordance with its proposal. Mr. Georgios Anastopoulos (RN SAA: 15451) is appointed as Regular Sworn Auditor and Mr. Nikolaos Argyrou (RN SAA: 15511) as deputy
5. The election of the members of the new Board of Directors, in accordance with the provisions of L. 3016/2002 pertaining to company management as amended by L. 3091/2002, of the following: 1. Ioannis Batsolas, 2. Grigorios Konstantakopoulos, 3. Periklis Sapountzis, 4. Andreas Kyriazis, non-performing and independent member, 5. Konstantinos Laios, 6. Michael Diakogiannis, 7. Theodoros Valmas, 8. Wiedenmann Rudolf, 9. Efstathios Striber, non-performing and independent member, 10. Ioannis Stavropoulos, 11. Ronald Gee, 12. Iakovos Georganas. The term of the members of this new Board of Directors, begins from the following day of its election and will end on the meeting day of the Regular General Meeting of the year 2008.
6. The approval of the remuneration of the members of the Board of Directors in accordance with article 24 par. 2 of the C.L. 2190/1920.
7. The amendment of article 4 of the Articles of Association regarding the goal of the company.
8. The approval of the issue of common bond loans, in accordance with the L. 3156/2003, of a total amount up to the amount of 50,000,000.00 euros which will be entirely covered by banks and will be used partly for the replacement of an existing short term loan with a long term loan, and partly for the financing of investment programs of the company. The Board of Directors is authorized to define the more specific terms and the process of the issue of these loans.
9. The approval of the commitment of a financial amount of Six Hundred Fifteen Thousand Euros (euro 615,000), which comes from Emergency Tax Reserves of the 2006 fiscal year. The amount will be used for coverage of private participation of the investment implemented by the company within the scope of L. 3299/2004 _ Approving Classification Decision 31629/YPE/4/00496/Ε/L.3299/2004/30-12-2006. The aforementioned will appear in a separate account in the accounting books of the company and cannot be distributed prior to the passing of a five year period from the completion date of the investment.