ANNOUNCEMENT

With respect to the interview of PPC's  Chairman and CEO, Mr. Arthouros Zervos, which was published in the international news agency Reuters, PPC clarifies that:

References regarding the imminent risk of power shortages are not true.

PPC's Chairman having been asked about  the overdues of third parties to the Οperator of Electricity Market (LAGIE SA),  he stressed the need for reinforcement of LAGIE  SA's  liquidity in order to ensure the smooth operation of the Greek electricity market. Furthermore, he stated that PPC has settled the total of its dues towards LAGIE.

The cash reserves of about €170m. mentioned in the interview refer to 31/3/2012.

PPC's management states that there is a close cooperation among the competent bodies, for the efficient handling of the matter the sooner possible.

Athens,5^th of June  2012