Following the publicity given by the Media to the reference made by MYTILINEOS S.A. Chairman Mr Evangelos Mytilineos in the Mediterranean Energy Summit to the Group's interest in the creation of an offshore Terminal for loading and storage of Natural Gas in collaboration with MOTOR OIL (HELLAS) S.A., with whom, as already announced on 26/11/2009, an agreement has been concluded for the joint import and trading of Natural Gas in all its forms (LNG, CNG etc.), MYTILINEOS S.A. would like to clarify the following:
Given the interest of the two Groups in the import and trading of Natural Gas, we have proceeded to exploratory contacts looking for companies with international activities in this particular sector, in order to map out the technologies and possibilities available for delivery "import" trading of Natural Gas. It is too early at this point to make specific references to the amount of such an investment, as various options are being considered. In any case, both companies, MYTILINEOS and MOTOR OIL, will examine in detail the financial aspects of the investment prior to any decisions being taken. In all cases, MYTILINEOS S.A. will adhere to its standing practice of releasing announcements to the investing public in the event of a development whose disclosure is mandatory under the Athens Exchange Rulebook and the legislation in force on the obligations of listed companies.
This clarification announcement is published in response to a relevant query from the Hellenic Capital Market Commission, which the Company received on 19 May 2010.