S&B Industrial Minerals S.A. announces that the Decisions 1630 and 1631/08 of the Athens Administrative Court of Appeal issued following the Company's recourses, annulled the administrative acts imposing the fines of ?392,000, enforced in October 2007 by the Ministry of Environment, Planning and Public Works, for alleged environmental violations in our Company's installations on Voudia and Tsigrado (Milos island).
The Administrative Court of Appeal Decisions annulled the fines for violation of a "material procedural rule" regarding the right of the interested party to a hearing before the administrative authorities for the expression of its views prior to the issuance of the respective administrative act.
Following the above decisions, the Company will proceed to the necessary actions for reimbursement of the fines which had been paid.