LAMBRAKIS PRESS SA announces that the Company's Board of Directors in its session of September 5, 2006 was briefed on the completion of the study assigned to the consulting firm McKinsey concerning the reorganization of the Company on the basis of the modern international standards adopted by mass media companies. The Board of Directors approved the new organizational structure of the upper level of the Company and the Group as follows:
The Company's Board of Directors will comprise the following committees:
* AUDIT COMMITTEE: Having jurisdiction over assessing risk management and the internal audit control system.
* STRATEGIC DEVELOPMENT AND INNOVATION COMMITTEE: Having jurisdiction over designing and monitoring the Group's strategy.
* PERFORMANCE MANAGEMENT AND CONTROL COMMITTEE: Having jurisdiction over surveying the performance procedures of the business units.

Τhe Company also constitutes the position of the Corporate Secretary primarily assigned to keep minutes, prepare the agenda of the meetings as well as the administrative procurement for all the meetings of the Board of directors and the Executive Committee.
The Board of Directors is also supported by the already existing INTERNAL AUDIT DEPARTMENT and the LEGAL DEPARTMENT as well as the following Committees and Units:
* EXECUTIVE COMMITTEE: Coordinating and monitoring the business of the Company and the Group.
* PUBLISHING COMMITTEE: Coordinating the course of the publications of the Group.
* DEPARTMENT OF STRATEGIC PLANNING: Planning the general directions of the Group's strategy. According to the new organizational structure, five new Business Units are constituted, comprising the core business of the Group as follows:
* BUSINESS UNIT OF NEWSPAPER TO VIMA headed by the newspaper's Director
* BUSINESS UNIT OF NEWSPAPER TA NEA headed by the newspaper's Director
* MAGAZINE BUSINESS UNIT headed by Mr. Nikolaos Tsouvalas
* DIGITAL MEDIA BUSINESS UNIT headed by Mr. Panagiotis Psycharis
* MEDIA SUBSIDIARIES BUSINESS UNIT

Also, two new centers are constituted as follows:
* OPERATIONS & BUSINESS DEVELOPMENT CENTER having the responsibility of the business development of the Group and its Business Units. The Center also supervises the Sales and Marketing of the Group, the Circulation Office as well as the Media Subsidiaries Business Unit. Mr. Stergios Nezis is appointed Head of the Operations & Business Development Center.
* CORPORATE CENTER, supervising the financial and administrative operations of the Group as well as the Human Resources department. The Corporate Center also supervises the non-media related subsidiary companies of the Group. Mr. Nikolaos Pefanis is appointed Head of the Corporate Center.

In forthcoming resolutions, the Board of Directors will appoint the members of the Strategic Development and Innovation Committee, the Performance Management and Control Committee and the Strategic Planning department and will assign the duties of the Corporate Secretary.
Following the implementation of the organizational structure of the upper managerial level of the Group, the organizational structure of the Company in the remaining levels will be concluded with the contribution of the Heads of Business Units and Centers as well as the department of Human Resources.