CARS MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COMPANY S.A

Draft Merger Agreement regarding absorption of affiliate company MOTODYNAMICS INSURANCE AGENTS S.A. approval

Following its previous announcement of 13/02/2009, MOTODYNAMICS S.A. informs the investors that its Board of Directors approved in its meeting of 18/03/2009, the Draft Merger Agreement regarding the absorption of the company under the trade name MOTODYNAMICS INSURANCE AGENTS S.A. (company to be merged by absorption) from MOTODYNAMICS S.A., pursuant Greek Laws 2190/1920 and 2166/1993.
The Draft Merger Agreement, which was approved on the same date from MOTODYNAMICS INSURANCE AGENTS S.A. Board of Directors, was signed by the authorised representatives of the merging companies.
The Draft Merger Agreement and the required documents shall be published shortly pursuant to the relevant laws.