In reply to relevant letters dated September 6th, 2006 (Ref. No. 43840 and 3754) addressed to it by Athens Exchanges and Capital Markets Commission MOTOR OIL hereby announces that, as part of its business strategy, it continuously conducts discussions with other companies engaging in the oil refining and trading sector and the energy production at large, as a means to achieve further development in its activities and find potential synergies. Furthermore, it is a firm policy of the Company to only proceed with official announcements to the investment community in cases in which a business event, as provided for by the Regulation of the Athens Exchanges and the requirements of the legal framework for the listed companies, must be disclosed.

The above are also valid as regards press releases indicating a cooperation with the company Lukoil.