PIRAEUS PORT AUTHORITY SA

Notification according to Law 3556/2007

Piraeus Port Authority S.A notifies, in accordance to the L3556/2007 and the Decision 1/434/2007 of the Hellenic Capital Market Commission and after the relevant notice of MORGAN STANLEY, received on 28/9/2007, that its controlled undertakings, MORGAN STANLEY & CO INTERNATIONAL PLC and MORGAN STANLEY & CO INCORPORATED NEW YORK, on 25/9/2007 disposed common nominal shares of the company PIRAEUS PORT AUTHORITY S.A, resulting to the reduction of the total participation of MORGAN STANLΕY, in terms of the total voting rights from the 10% limit and specifically from 11,295% to 1.848% (462.108 voting rights, against 2.823.628 that were possessed). In parallel there was also a change, greater than 3% at the percentage of the aforementioned shareholder in terms of total voting rights of the company PIRAEUS PORT AUTHORITY S.A. In this percentage (1.848%) is included the participation of the controlled undertakings MORGAN STANLEY & CO INTERNATIONAL PLC (1.825% or 456.357 shares and voting rights) and MORGAN STANLEY & CO INCORPORATED NEW YORK (0.023% or 5.751 shares and voting rights).