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 1st 2007, that on October 25th 2007, the said company, proceeded to the purchase 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 increased from 48.207.627 to 49.057.627 and the percentage on total voting rights of the above company changed from 4,916 % to 5,002%.