METLEN ENERGY & METALS S.A.

Announcement.

The Company hereby announces that the Board of Directors, at its meeting of 5.12.2007, resolved on the specification of the terms and table of allocation of the stock option plan of the Company pursuant to the provisions of article 13 para. 13 of codified law 2190/1920 as in force, in favor of members of the Board and executive members of the Company and its affiliates, in accordance with the decisions of the General Meeting of shareholders of the Company on 14.6.2006 and 3.9.2007. According to the above decision, there are 28 beneficiaries with up to 41,014 corresponding call options for the current year. The acquisition price of the options was fixed at Euro 30.47 per share.