The Annual General Meeting of the Shareholders of "SIDENOR, STEEL PRODUCTS MANUFACTURING COMPANY, S.A.", was held at PRESIDENT HOTEL, 43 Kifissias Avenue, Athens, on Tuesday, June 13, 2006 at 12:30 hours, pursuant to the pertinent notice of the Company's Board of Directors, dated May 19, 2006. The General Meeting, with a total number of shares represented 70.412.360 out of 95.506.626 (thus 73.72%), approved the Company's Annual Financial Statements for the financial year 2005, together with the Board's and the Auditors' Reports on them and also decided to discharge the members of the Board and the Auditors from all liability for damages, concerning the financial year 2005. Then, the General Meeting approved the distribution of the profits for the year 2005. Moreover, it was decided that the beneficiaries of the dividend of EURO 0,16 per share would be the shareholders of the Company after the closing of the A.S.E. on 28/06/2006. From 29/06/2006, the Company's shares will be negotiated without the right on the 2005 dividend. The payment of the dividend will be made through the network of the ALPHA BANK branches, starting on July 6, 2006, until the end of the year. Then the General Meeting elected as auditors for the financial year 2006 the audit firm "PriceWaterHouseCoopers", their remuneration to be fixed following their pertinent offer. Also the General Meeting approved as members of the new Board of Directors, the following
1.George Kalfarentzos
2.Gregory Konstantakopoulos
3.Athanassios Mitropoulos
4.Efstathios Striber, independent member
5.Andreas Adamopoulos
6.John Economou
7.Theodossios Papageorgopoulos
8.Andreas Kyriazis, independent member
9.Robert Monnot

The term of office of the above Board members will start on the day after their election and it will terminate at the date of the A.G.M. of the year 2007. The General Meeting also approved the amounts to be paid to Board members. Then the General Meeting approved the issue of debenture loans, according to the L 3156/2003, amounting in total up to Euro 130.000.000,00, which will be totally covered by Banks. The pertinent amounts will be used partly to replace existing short term loans by long term loans and partly to finance the Company?s investments programs, as well as the participation in capital increases of subsidiaries. Finally, the General Meeting approved the purchase of shares of the company SOVEL S.A., up to the number of 315.211, following art. 23a of C.L.2190/1920, from VIOHALCO S.A.