Announcement

The Company announces in accordance with the Regulation (EU) under no 809/2004 of the European Commission, dated 29 April 2004 and the Law 3401/2005 (art.16) that the Supplement of the Prospectus approved by the Capital Market Commission (CMC) with regard to the company's share capital increase by euro 25.265.558,20 through cash payment and a pre-emptive right in favour of its existing shareholders at a ratio of 5 new to 4 existing shares, resolved by the Shareholders' Extraordinary General Meeting held on 17.3.2006, will be available to the public investors from today , the 17th of May 2006. A total of 21.411.490 new registered shares will be issued, each with a nominal value of euro 1.18 and an offer price of euro 5.60, while a total amount of euro 119,904,344 (21,411,490 x euro 5.60) is expected to be raised. The pre-emptive right exercise period is determined from 8/5/2006 till 22/5/2006 and the rights trading period from 8/5/2006 till 16/5/2006. For the shares to be issued an application for admission to trading will be filed to the ATHEX. Admission and trading of the new shares on the ATHEX will be subject to approval of the Company's application by the ATHEX Board of Directors. The said Supplement of Prospectus will be published today, the 17th of May 2006 on the website of the company "http://www.forthnet.gr/media/Company/prospectus2006" as well as on the website of ATHEX "http://www.ase.gr". It will be also available in hard copy at the Company's central offices, at Atthidon street 4, 17671 Kallithea, from the 17th of May 2006 till the termination date of the subscription period. Investors who have agreed to purchase shares or have subscribed for the purchase of shares before the publication of the Supplement, may retract from the purchase or subscription the latest within three business days from the publication of the supplement. For further information please address to the company's Shareholders Department (tel. 210 9559294 ή 210 9559298).


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