Corinth Pipeworks S.A. following the decision of the Ordinary General Shareholders meeting of June 12, 2007, regarding the issuance of up to 50 million common bond loan, announces that on September 10, 2007 its Board of Directors approved the issuance and disposal via private placement to COMMERCIAL BANK OF GREECE, a ten million euro face value (Euro 10,000,000.00) common bond loan, with five year tenor..