With regards to his letter dated May 2nd 2006, the member of Board of Directors Mr. Tzortzakis Pantelis resigned due to the increased amount of his work responsibilities and professional obligations. The Companys Board of Directors proceeded with the replacement of Mr. Tzortzakis Pantelis according to article 22 paragraph 1a of the Article of Association. The new member of Board of Directors is Mr Dimitrios-Iraklis Kalogerakis who had been elected first substitute member during the ordinary general meeting that took place on June 12th, 2005.