Piraeus Real Estate Investment Company S.A., following its announcement dated 6.5.2008, clarifies that the published Data & Information for the period from 1.1.2008 until 31.3.2008, except the provisions regarding the employee termination payments, do not include any provisions for the unaudited fiscal years since 2005, as the Management assesses that, due to the special taxation system applying to the Company (as a REIC, it is taxed on its assets and not on its profits), no tax discrepancies will arise from the audit of the accounts.