ELVAL S.A., replying to the 5173/30-10-2008 letter of the Hellenic Capital Market Commission and in continuation of the announcement of 29/10/2008 referring to the Memorandum of Understanding with FURUKAWA-SKY ALUMINIUM Corp., announces that this memorandum is an initial agreement of the companies, concerning the Capital Increase of BRIDGNORTH ALUMINIUM, by 14 mil. GBP. The above agreement will be completed after the sign off of the final agreement between the shareholders of all parts and after obtaining relevant regulatory approvals.