The company ALAPIS S.A. discloses according to article 14 law 3556, that after a relevant disclosure it received from the company MORGAN STANLEY as of November 15th 2007, that on Novemver 2nd 2007, the said company, proceeded to the sale of shares of the company ALAPIS S.A., through its controlled companies : MORGAN STANLEY AND CO INTERNATIONAL PLC and MORGAN STANLEY AND CO INCORPORATED NEW YORK and as a result, its total number of shares and voting rights decreased from 49.057.627 to 48.890.030 and the percentage on total voting rights of the above company changed from 5,002% to 4,985%. Specifically, MORGAN STANLEY AND CO INTERNATIONAL PLC holds 1,237% of the total voting rights of the above company and MORGAN STANLEY AND CO INCORPORATED NEW YORK holds 3,748% of the total voting rights of the above company.