OPAP S.A. in response to the letter of the Capital Markets Commission (ref. 5316/30.11.2007), following an article in Eleftherotypia newspaper and the previous corporate announcements dated 1.8.2007 and 23.10.2007, announces the following:
(1) In the News Release on 21.11.2007 for the Interim Financial results for the nine month period it is stated on page 3 that "...the present value of the minimum lease payments has been recognised in the financial lease liabilities section of the balance sheet and is calculated taking into account the relative 3-year lease payments as well as the option rights (i) to acquire the technological infrastructure and (ii) to extend the software licenses' use until December 31, 2016 for a price of ?20m and euro 58.5m, respectively, plus VAT..."
(2) On 27.11.2007 OPAP S.A.'s announcement to the Athens Exchange informed the investor community that the consortium of INTRALOT SA.-INTRALOT INTERNATIONAL LTD and the BETTING COMPANY S.A., exercised in writing its put option right to transfer to OPAP S.A. the software licenses until 31.12.2016 at a total cost of euro 58,520,000 (plus VAT)
(3) To date, none of the parties have exercised their put option right to acquire the technological infrastructure.
(4) The agreement includes the terms for the provision by the consortium of maintenance, technical and operation services for all the equipment (including the 29,800 terminals -of three different types). The above mentioned cost can not be currently defined as it depends on one part on the timetable of availability of all the agency terminals as well as the withdrawal of old type terminals and on the other part on OPAP's decision on the ratio of terminals' type.