The Board of Directors of MOTOR OIL (HELLAS) S.A in their meeting of May 20th, 2005, and in accordance with the terms defined in article 16 of L. 2190/1920, decided the sale of the aggregate of 15,180 common registered shares acquired by the Company during the buy back program of own shares. These shares represent a percentage of 0.01370% of the share capital of the Company. The minimum sale price was defined at euros 12.00 per share and the time period for the completion of the sale transactions was defined from May 26, 2005 till June 17, 2005.