Further to our announcement of January 29th, 2008 Forthnet informs the investors that the transfer of 8,158,912 shares with the respective number of voting rights in Forthnet, from NOVATOR EQUITIES LTD ("NOVATOR"), CYCLADIC CATALYST MASTER FUND ("CYCLADIC") and the Foundation of Research and Technology Hellas ("FORTH") to Forgendo Limited ("FORGENDO") has been completed. The transaction has been realised at a share price of ?11.5 per share. Following this transaction NOVATOR and CYCLADIC do not participate any more in the share capital of Forthnet whereas FORTH remains a shareholder in Forthnet with 2,412,465 shares or 6.21% of Forthnet share capital. FORGENDO has now become Forthnet's largest shareholder. This announcement has been drafted and published in accordance with the Laws 3340/2005 (art.10) and 3556/2007 (art.3 par.1,(ist), (bb) and the resolution of the Hellenic Capital Market Commission under number 3/347/12.7.2005. The company will proceed further with notifications according to art. 14 par.3 of the L. 3556/2007.