MOTOR OIL (HELLAS) CORINTH REFINERIES SA

Payment of the dividend remainder amount for the year 2007

MOTOR OIL (HELLAS) S.A announces that the Annual Ordinary General Meeting of the Company shareholders of May 29th, 2008 approved the distribution of an aggregate dividend amount of euro 1.20 per share for the fiscal year 2007. It is reminded that on December 12th, 2007 the Company paid an interim dividend of euro 0.20 per share as advance payment for the year 2007 dividend.
As a result, the remainder amount of dividend payable for the year 2007 equals euro 1.00 per share.
Shareholders entitled to the remainder amount of dividend are the owners of the shares of the Company at the closing of the trading day of the Athens Exchange of Friday May 30th, 2008 according to the clearing of the Hellenic Exchanges S.A (previously Central Securities Depository - CSD - S.A.). As of Monday June 2nd, 2008 the shares will trade ex-dividend remainder for the year 2007.
The payment of the dividend remainder for the year 2007 to the shareholders will be effected according to one of the following options through the payee bank BANK OF PIRAEUS S.A on Tuesday June 10th, 2008:
1. Through the Dematerialized Securities System (S.A.T) Operators (banks, brokerage - securities firms) according to the payment procedure defined in article 329 of the Athens Exchange Regulation and in article 39 of the CSD Regulation
2. Shareholders who have revoked the dividend collection authorization to their S.A.T Operators will be attended to at any branch of BANK OF PIRAEUS S.A.
3. Shareholders not credited by their S.A.T Operators, for whatever reason, will be attended to at any branch of BANK OF PIRAEUS S.A. after Tuesday June 17th, 2008.
For the cases 2 and 3 described above, shareholders can collect the dividend remainder in person or through their legally authorized representative until December 31st, 2008 by presenting to the payee bank a copy of their S.A.T details and their Identification Card.
After December 31st, 2008 the collection of the dividend remainder will be possible only from the Headquarters of the Company, Shareholders' Department (12A Irodou Attikou str., 151 24 Maroussi tel. 210 8094 042).
Dividend remainder collection certificates (for tax purposes) for the cases 2 and 3 will be issued by BANK OF PIRAEUS S.A while shareholders falling into case 1 will be attended to by the Shareholders' Department of the Company (tel. 210 8094 042).
Dividends which will not be collected within 5 years are written off in favor of the Hellenic State.