FRIGOGLASS A.B.E.E. (the "Company") announces that the Annual General Meeting of its Shareholders of June 9 2006 resolved the simultaneous increase and decrease of the Company's share capital of an amount of Euro 50.400.000 as follows:
a) increase of an amount of Euro 50.400.000 through capitalization of part of the share premium account and
b) decrease of an amount of Euro 50.400.000 in order to set off losses incurred through the first application of the International Accounting Standards (Change of Accounting Standards).

The simultaneous increase and decrease of the share capital shall be effected through the respective increase of the Company's shares' nominal value from Euro 1 to Euro 2,26 and simultaneous decrease of the Company's shares' nominal value from Euro 2,26 to Euro 1. Following the above increase and simultaneous decrease, the Company's share capital amounts to Euro forty million (euro 40.000.000) divided in forty million (40.000.000) shares of a nominal value of Euro 1 each. The Ministry of Development approved through its decision No. Κ2 - 9806/3-7-2006 the amendment of the respective article of the Company's Articles of Association. The Board of Directors of the Athens Stock Exchange was informed in its meeting of September 7 2006 on the above amendments of the Company's share capital. Following the above, as of September 13, 2006, the Company's shares will be traded in the ASE with a nominal value of Euro 1 each. For further information, shareholders may be addressed to the Company's Investor Relations Department (tel. 210 6165 757 κα. Lillian Phillips).