The Board of Astir Palace Vouliagmenis SA (hereafter "the Company") announces to the Company's shareholders that the increase in share capital through payment in cash and with pre-emptive rights in favour of old shareholders, as per the decision of the General Meeting of Shareholders of 30 June 2008 and carried out between 10 and 24 November 2008, was taken up at a rate of 78.124 % through the payment of a total of euro 77 876 730.36, corresponding to 16 640 327 new ordinary shares with voting rights. A total of 4 659 673 remained unsold.
On 25 November 2008, by decision of the Board of Directors the said 4 659 673 unsold shares were offered to the Company's principal shareholder National Bank of Greece SA, thereby covering the share increase 100% and raising a total of euro 99 684 000.00.
Pursuant to the above, the Company's share capital will increase by euro 63 900 000.00 through the issue of 21 300 000 new ordinary voting shares of a par value of euro 3.00 each.
The new shares arising from the said increase will be rendered to beneficiaries in dematerialized form and credited to shareholders' accounts with the Dematerialized Securities System, as arranged with beneficiaries.
The date on which the new shares will be credited to shareholders' accounts and on which trading of said shares on the Athens Exchange will commence will be announced by the Company in a forthcoming announcement.