ΑΣΤΗΡ ΠΑΛΑΣ ΒΟΥΛΙΑΓΜΕΝΗΣ Α.Ξ.Ε.

Share capital increase through payment in cash

The Board of Astir Palace Vouliagmenis SA (hereafter "the Company") announces that 21 300 000 new ordinary shares of the Company, of a par value of euro 3.00 each, deriving from the share capital increase through payment in cash to its old shareholders, will commence trading on the Athens Exchange as of Friday, 28 November 2008, as per the relevant decision of the General Meeting of Shareholders of 30 June 2008.
On 27 November 2008, the Athens Exchange approved the trading of the new shares. The Company's new shares will be credited to shareholder accounts in the Dematerialized Securities System on the date of commencement of trading. For further information, please contact the Company's Shareholder Services Department at the Company's premises, Apollonos 40, Vouliagmeni, Athens, tel.: +30 210-8901656.