With our present notification and pursuant to article 283 of the Athens Exchange Regulation (decision 1/304/2004 of the Capital Market Commission) we hereby forward to you, the information that we have received pursuant to article 10 of the decision 5/204/14.11.2000 of the Capital Market Commission (as in force) in connection with the intention of the shareholder of our company, Charalampos Vovos son of Armodios, to transfer part of his shares issued by our company

More specifically, Charalampos Vovos intents to transfer up to 4,330,500 common, registered shares with voting rights, representing up to 12.76% of the total share capital, from June 22, 2005 until July 1, 2005. The percentage of the current stake of the shareholder Charalampos Vovos in our company is 63.7895%. The members of the Athens Exchange through which the transactions will be effected are "NATIONAL Securities S.A." and "ALPHA FINANCE Brokerage Investment Services S.A." Furthermore, the shareholder of our company clarifies the following: 1. The sale of the aforementioned shares will be effected by way of book building and will be addressed to a limited number of institutional investors. Deutsche Bank AG London will be the Global Coordinator and Sole Book-runner in relation to the offering of the aforementioned shares.

2. The intended volume of transactions which will be finally effected, as absolute number and as absolute percentage of share capital of the company Babis Vovos International Construction S.A., may be less subject to demand and market conditions but in any case, the maximum number of shares to be sold by the shareholder Charalampos Vovos son of Armodios in the company Babis Vovos International Construction S.A. will not exceed 4,330,500 shares, i.e. 12.76% of the share capital of the aforementioned company.We remain at your disposal for any further clarification or query you may have in connection with the present notification.